> For the complete documentation index, see [llms.txt](https://pendulum.gitbook.io/pendulum-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pendulum.gitbook.io/pendulum-docs/community/crowdloan.md). # Crowdloan Parachain slot crowdloans are a way for new projects to get their parachain on Polkadot and Kusama. To become a parachain, a project must first bid through an auction for a parachain slot. In December 2022, Pendulum was [DotSama’s fastest crowdloan success ](https://medium.com/pendulum-chain/pendulum-wins-polkadot-parachain-in-3-minutes-dfc206ed01ce)with the 300,000 DOT (approximately $1.4M) hardcap being reached in 3 minutes. In June 2022, [Amplitude](https://pendulumchain.org/amplitude) (Pendulum's sister network) won the Kusama [auction 42](https://medium.com/pendulum-chain/amplitude-wins-kusama-parachain-slot-80e07781ddbd) with more than 24,080 KSM (approximately $1,172,930) received. **Introduction** The Pendulum community are at the fore-front of driving Pendulum ecosystem growth. Holders of the Pendulum's native [PEN token ](https://medium.com/pendulum-chain/what-is-the-utility-of-pen-b278f84e8b0d)will have ooportunities to contribute to the network through both staking and governance. Amplitude is our community-driven Kusama parachain powered by the [AMPE token](https://medium.com/pendulum-chain/amplitude-wins-kusama-parachain-slot-80e07781ddbd). Our[ Grant Program ](https://medium.com/pendulum-chain/pendulum-launches-ecosystem-grant-program-c193237305ce)funds and supports developers to build dApps on top of Pendulum while our brand [Ambassador Program](https://medium.com/pendulum-chain/the-pendulum-ambassador-program-wants-you-b0df38fd2624) gives community members paid roles in growth and marketing. **Pendulum & PEN** Pendulum won auction 35 and our Polkadot parachain went live on Mainnet 14th February 2023. A Polkadot crowdloan serves to trustlessly crowdsource DOT to bid on a parachain slot in Polkadot's parachain auctions. It is not exactly a loan, rather it is a way of locking your DOT tokens in order to vote for a parachain to successfully win a parachain slot in the network. For more information see our [quick overview.](https://pendulum-chain.medium.com/parachain-auctions-and-crowdloans-on-polkadot-kusama-a-quick-overview-2e4892a0ec90) This crowdloan allowed Pendulum to raise the required DOT to secure a parachain slot on Polkadot and to distribute PEN tokens to the early supporters in the community. Pendulum Crowdloan details include: Lease period: 96 weeks Vesting: 10% released upon TGE (token generation event) 90% released linearly over 96 weeks Eligibility: Users must agree to Terms and conditions, No KYC required DOT Lockup Period: 96 weeks Token Received: PEN Redeeming DOT: Your DOT will be unlocked and returned to you without any input required Exchange listings for PEN are projected for late February 2023. PEN will be the native token of Pendulum. PEN utilities include powering transactions as the Pendulum gas token, governance, and staking. Ticker: PEN\ Relay Chain: Polkadot\ Supply Structure: Inflationary\ Total Supply: 200,000,000\ Initial Circulating Supply: 15,200,000\ Supply at Genesis: 160,000,000\ Read the full [PEN tokenomics](https://medium.com/pendulum-chain/what-is-the-utility-of-pen-b278f84e8b0d) here and a detailed summary of [PEN utilities here](https://medium.com/pendulum-chain/what-is-the-utility-of-pen-b278f84e8b0d). PEN crowdloan rewards Check here -> c08e959d5c024417a28357b5aa6772a6 Note: If you are eligible for the rewards and haven't received them yet, please reach out to us on [Telegram.](https://t.me/pendulum_community) --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://pendulum.gitbook.io/pendulum-docs/community/crowdloan.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.