Integritee crowdloan campaign is live on Kusama and we need your support!
Support Integritee’s Parachain Bids
Integritee Network enables developers and firms to process sensitive data, without compromising on privacy. Our platform combines the trust of blockchain with the confidentiality of off-chain, trusted execution environments (TEEs). This enables developers and firms to create decentralized data-driven apps and services that can securely process sensitive data, without revealing it on chain.
The Integritee ecosystem, across all instances on Kusama, Polkadot and elsewhere, will be powered by our native token, TEER. Backers who support our parachain bids by temporarily locking in KSM will be rewarded in TEER.
We all know the problems with centralized data services. Integritee is the solution. Help us build a new internet where privacy comes as standard and earn TEER in the process.
Powering data-driven services where privacy comes as standard
Firms or consumers can process data in pre-agreed ways through open-source code, without anyone having access to the underlying dataset. The integrity of such computations is publicly auditable. This aids compliance with privacy laws like GDPR and fosters consumer trust.
Integritee is not just interoperable with all other projects on the Polkadot network, it can interface with any light-client capable blockchain or web2 API.
Easy To Adopt
Integritee can be easily adopted by both blockchain developers and enterprise clients. Third-party developers gain access to a highly interoperable Polkadot sidechain, while enterprise clients benefit from familiar processes, documentation and billing procedures.
HOW PARACHAIN AUCTIONS WORK
The Integritee Kusama Crowdloan Explained
One of the biggest advantages of Kusama is that it enables many decentralized networks to achieve strength in numbers by pooling security resources. Integritee plans to use the shared security and public auditability of Kusama to power our privacy-preserving data services.
Kusama parachains are leased in slots (lasting 6 weeks each up to a maximum of 48 weeks) to the projects which provide the largest bond in the form of locked-in KSM. Backers can support their favourite projects by locking in KSM for the duration of the lease period. The reason it is called a “crowdloan” is that backers retain full access to their KSM once the lease period ends.
Integritee will begin bidding to secure its first Kusama parachain during the second batch of slot auctions. We will be rewarding KSM holders who support Integritee bids with TEER.
HOW WE ALLOCATE TEER
10% of the total Integritee token allocation will be fairly distributed to KSM holders who support us in the Kusama parachain auctions. The quantity of TEER each supporter receives will thereby depend on the amount of KSM they lock-in, relative to the total amount locked-in by all supporters. This approach has two benefits:
Community-driven token value:
Rather than setting an arbitrary value for TEER before it is in circulation, we are letting the community set an appropriate value for the token. This enables market forces to be used as a price discovery mechanism before the token is traded on exchanges.
For TEER to serve its purpose as a means of exchange and governance for the Integritee network, it must be circulated widely. Our approach to supporter rewards guarantees that a fixed number of tokens will be distributed, regardless of the size of the winning bid(s).
Total Rewards: 1,000,000 TEER (10% of total token allocation)
As a supporter, you receive: Your KSM contribution/Total KSM contribution x 1,000,000
The Value of the TEER Token
The TEER token will be the fuel that drives the Integritee platform — a common means for platform access across all our Kusama and Polkadot parachains.
Integritee adopters will require TEER to pay for our privacy-preserving data services. Given the growing consumer and regulatory pressure to protect user privacy, technologies like Integritee are rapidly becoming essential for firms. Thus, TEER has an intrinsic value which will be directly linked to demand for Integritee’s services.
Token Burn Mechanism:
A portion of the fees paid to the treasury for each transaction will be burned. This will have a deflationary effect, reducing the supply and thereby driving growth in the value of TEER, other factors being equal.
Third-party developers can use our scalable, second-layer side chains to host their projects. Integritee will offer proportional discounts in fees to projects which lock in TEER on the Integritee parachain. This will slow down token velocity, further stimulating token value.
How does crowdlending work?
Supporters get real rewards, at no cost.
Crowdlenders never have to give up their tokens; there is only the opportunity cost of not having their KSM available for the duration of the lease. In return for this support, projects offer specific rewards.
Integritee is reserving 1,000,000 TEER — 10% of the total Integritee token allocation — to distribute to our KSM backers. This reward has a double benefit: after the planned exchange listing in Q4 2021, it will be a tradable asset. But perhaps more importantly, TEER will also give access to our privacy-preserving data services, and voting rights in governance of the decentralized Integritee parachain. If you believe, as we do, in the need for a secure alternative to centralized data services, participating in the Kusama crowdlending is a very tangible way to bring that about, and will enable you to be a real part of the future of data privacy.
The TEER rewards will be distributed in direct proportion to the size of each backer’s contribution. This will drive the price discovery of the TEER token before its listing and promote decentralization of the Integritee network.
For full details about the TEER token and the tokenomics of the Integritee platform, download the complete paper here.
Help us build an internet that’s safe for private data and earn your share of the 1 million TEER tokens we spread to the community. Participate here: https://crowdloan.integritee.network
Learn more about Integritee