Krystal, a multi-chain platform that acts as a point of access for people to easily transact with leading protocols on different blockchains, has added a new feature to its user interface via its newly debuted KrystalGO.
The launch of the KrystalGO services appears to be in compliance with the platform’s mission of simplifying access to the DeFi space.
The platform has designed its KrystalGO in a way that allows community members to easily participate in the public rounds of funding of different token projects supported on the platform.
The services featured with KrystalGO will give community members the opportunity to easily participate in token sales of high-quality blockchain projects. Users will be able to carry out these operations on KrystalGO with very simple steps and straightforward requirements. Users can participate on KrystalGO following the steps below;
- Participants are required to complete the Know Your Customer (KYC) process. This is supported by a 3rd party service provider, Blockpass.
- Participants have to stake Kyber Network Crystal (KNC) and swap tokens on Krystal. There are no minimum requirements set for both.Based on the amount of KNC staked and the USD value of token swaps, participants accumulate points.
- a. For every KNC staked on KrystalGO, 1 point is awarded.
- b. For every 10 USD trade volume on Krystal, 1 point is awarded. Trade volume of token swaps on Krystal is calculated in USD. It is calculated 30 days back from the end of a project’s whitelist stage.
- Based on the points accumulated, participants will be allocated to their respective tiers.
a. Participants in tiers Topaz & Obsidian go through a raffle process to be allocated a slot.
b. Participants in tiers Emerald & Sapphire are automatically allocated a slot.
- All participants with allocated slots are guaranteed token allocation. The higher the tier, the greater the token allocation.
Per the announcement, the platform currently supports any DeFi and NFT projects built on Ethereum, Binance Smart Chain (BSC), Polygon, and Avalanche to launch on KrystalGO.
It revealed future projects it would support in upcoming months and plans to soon expand its services to projects and users on other networks while informing interested participants that they can visit the KrystalGO website to start preparing for the upcoming launches.
The CEO at Krystal, Sunny Jain elaborated on the potentials of the project saying;
“By supporting high quality DeFi and NFT projects on popular blockchains, KrystalGO is opening its doors to a huge community of projects and users. Perfectly aligned with our mission of improving accessibility of DeFi to the masses.”
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