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January 5, 2022

Efinity Parachain Slot Confirmed: Now What?

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Efinity Parachain Slot Confirmed: Now What?
Find out what's next in the Efinity journey after securing our slot as a Polkadot parachain.

Over the holidays, Efinity secured its place on Polkadot, winning Slot 6 in the parachain auctions.

First and foremost, we want to extend our gratitude to our community and supporters, without which this wouldn't have been possible.

Because of you, we smashed it out of the park and pulled ahead in Slot 6 with such a convincing lead that other projects thought it best to focus on the next slot.

Now, it's time to focus on what happens next!

Crowdloan Rewards

Just to recap, 200 million Efinity (EFI) tokens will be spread across the almost 7.7 million DOT contributed in the crowdloan.

That’s roughly 26 EFI per DOT.

This will be released linearly over the 96-week parachain period, starting from when we onboard as a parachain in March 2022. You can calculate rewards for your participation on our Crowdloan page.

EFI rewards will be sent to the wallet you contributed from. For most people who used the polkadot.js.org wallet, this should be straightforward as finding EFI in that wallet. You can check it anytime, grab the EFI that’s accumulated, and do whatever you want with it.

If you contributed on an exchange or wallet that doesn’t support EFI, we’re working on a system that lets you nominate a wallet for your tokens to be forwarded to.

The same goes for our NFT rewards, the Degens—you’ll be able to nominate a wallet address for these to be forwarded to. 250 random contributors will receive a Degen NFT, along with the 250 top contributors.

Onboarding as a Polkadot Parachain

Efinity was ready to be plugged in as a parachain as early as November 2021, so we’re more than ready to be onboarded in March 2022. We’ll keep working on the technology, running benchmarks, developing our new standard for cross-chain tokens, and getting developers excited about all the new possibilities. Prior to launching the parachain on Polkadot, we'll be launching on Polkadot's Rococo testnet.

Over 75 developers and partners have already committed to developing games and apps on Efinity, and behind the scenes we’ve been talking to some big players in gaming about what Efinity can do for them. Watch this space!

Once Efinity is live, you’ll be able to transfer NFTs across parachains and other blockchains. You’ll be able to bid on NFTs on marketplaces outside the blockchain, and bring them onto Efinity.

Game developers will be able to offer a seamless experience, as new players won’t have to worry about buying crypto or have a wallet connector pop up before they know how to play.

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Looking Ahead

2022 is shaping up to be the biggest year yet for Enjin and Efinity!

Beyond onboarding as a Polkadot parachain, we've got a slew of new product developments and releases in store.

NFT.io is next off the rank in Q1—our upcoming next-generation NFT marketplace. Like a cross-chain version of OpenSea, but broader, NFT.io will be for everything, from gaming to art NFTs and beyond.

Version 2 of the Enjin Wallet is also coming up, and you can expect to see more about that in Q2. We’re already testing the app in alpha and it looks great, so we’ll be releasing a trailer and some demo videos of that soon.

We also want to recognize the great work being done in the NFT space across different categories, so we’ll be hosting the NFT Awards ceremony to honor the winners from 2021. This will be hosted in Decentraland in February, so you can 100% be there yourself!

The Enjin / Efinity synergy will properly manifest in 2022, as we allow users to stake ENJ to nominate Efinity collators (and earn EFI rewards for their efforts!), and use EFI for governance of the network. If you're still not sure how the two tokens work together in harmony, take a look at our full post about ENJ and EFI or this video from our friends at Altcoin Buzz to get all the details.

This next year is going to be a fun ride, and we can't say thank you enough to all the supporters, adopters, partners, and community members that are making it possible.

We're just at the start of the Efinity journey. Now let's go build the future of NFTs!

Efinity Parachain Slot Confirmed: Now What?
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