OAK Network: Polkadot Crowdloan Launch

OAK Network is wildly excited to announce the launch plan for our crowdloan on Polkadot!

With the Turing network launch complete and development progressing with our parachain partners (Acala Network, Parallel Finance, Bifrost Finance, Crust Network, and Phala Network) to bring automation features to Kusama, we are ready for the next stage. The OAK Network mainnet launch marks another key step in our journey of building the Web3 hub for cross-chain automation.

OAK Network will enable innovative automation functionality for Polkadot parachains and products in a secure, trustless, and scalable manner. Securing our parachain lease on the Polkadot network will allow our team to quickly ship new features to our Polkadot partners via OAK after first evaluating for quality and safety on Turing.

OAK Crowdloan

The OAK Network crowdloan will go live on September 20th, 2022 — 23:00 UTC in anticipation of the 28th auction beginning on approximately September 22nd, 2022 — 19:24 UTC. The complete Polkadot auction schedule and relevant information can be found here. Members of our community who are staking DOT and wish to contribute to the crowdloan will need to unbond by Monday, August 22nd — 23:00 UTC.

Contributors will receive up to 1.5% of the OAK tokens from an initial supply of 1 billion at a ratio of up to 100 OAK per 1 DOT contributed. Full OAK Tokenomics and reward structure are coming soon to the official website.

Bonus Rewards

We took a number of lessons away from our Turing Network crowdloan — our team could not be more grateful for the support and feedback from the community. In an effort to show our thanks, we will be including early bird, referral, and community bonuses similar to our Turing crowdloan alongside an additional bonus for those who contributed to our Kusama crowdloan.

The OAK crowdloan website will be launching this Friday, August 11th at UTC 23:00. Stay tuned to our Twitter, Discord and Telegram for the website launch announcement which will include bonus reward details and instructions on how to receive your referral code.

Please note that referral codes from the Turing Crowdloan will not be accepted for the OAK crowdloan. Previous contributors will automatically have a new code generated and emailed to them. Alternatively, prior contributors will be able to enter their email on our crowdloan website to confirm their new referral code.

Ways to Participate

Supporters will be able to contribute to the crowdloan via the OAK Web App using a Polkadot.js wallet and extension to loan their unbonded DOT.

Please also stay tuned for partnership announcements in the coming weeks allowing a variety of crowdloan supporters to contribute directly through our website earning a referral bonus alongside a liquid derivative of their DOT.

What should I do next?

Prepare your DOT tokens — If you are currently staking DOT you wish to use for the crowdloan, you will need to unbond those tokens. If this is your first time contributing to a Polkadot crowdloan, you will need to acquire some DOT tokens from a centralized exchange or other fiat onramp.

For anyone interested in joining the crowdloan we have resources available to help you learn everything you will need in our community Discord including guides and a helpful team of mods to answer questions.

If this is your first time hearing about OAK, we encourage you to check out our website for more information on our vision for Web3 cross-chain automation as well as information on our live canary network Turing.

The technically inclined should also make sure to visit our OAK developer portal to discover key concepts behind OAK including our live time trigger which enables auto-compounding for DeFi, subscription services, and stable-cost-averaging strategies.

Finally, make sure that you follow our OAK Network team on Twitter, Telegram and LinkedIn. We will be sharing frequent updates that cover everything you will need to know for the crowdloan campaign as well as exciting new product launches for Turing. We appreciate the continued support from the Polkadot and Kusama ecosystem and look forward to pushing the boundaries of cross-chain automation.