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docs/README.md

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# InterBTC & Kintsugi Documentation
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## Radically Open Bitcoin for Decentralized Finance
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## Radically Open Bitcoin for Decentralized Finance
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**interBTC** is Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant. interBTC will be hosted as a Polkadot parachain and connected to Cosmos, Ethereum and other major DeFi networks.
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**interBTC** is Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant. interBTC will be hosted as a Polkadot parachain and connected to Cosmos, Ethereum and other major DeFi networks.
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**Kintsugi** is Interlay’s canary network for interBTC, a testnet with real economic value deployed on Kusama (Polkadot’s canary network). Kintsugi and interBTC share the same code base - with the difference that Kintsugi will be 2-3 releases ahead of interBTC with more experimental features.
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**Kintsugi** is Interlay’s canary network for interBTC, a testnet with real economic value deployed on Kusama (Polkadot’s canary network). Kintsugi and interBTC share the same code base - with the difference that Kintsugi will be 2-3 releases ahead of interBTC with more experimental features.
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![Cryptocurrency-backed Assets](_assets/img/CbA.jpg)
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### Issue, Trade, and Redeem
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The life-cycle of interBTC follows the three main protocols:
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- **Issue:** Lock your BTC with a Vault. Pick one, or run your own. Your BTC is always safe and insured by Vault collateral.
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- **Issue:** Lock your BTC with a Vault. Pick one, or run your own. Your BTC is always safe and insured by Vault collateral.
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- **Mint:** Get interBTC at a 1:1 ration to your locked BTC.
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- **BTC DeFi:** Earn on your Bitcoin. Use interBTC as collateral, for lending, yield farming and more. On Polkadot, Kusama, Cosmos, Ethereum and other major DeFi platforms.
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- **BTC DeFi:** Earn on your Bitcoin. Use interBTC as collateral, for lending, yield farming and more. On Polkadot, Kusama, Cosmos, Ethereum and other major DeFi platforms.
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- **Redeem:** Redeem interBTC for actual BTC on Bitcoin - trustless and anytime you want.
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### Radically Open & Secured by Insurance
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What makes interBTC unique is the strict dedication to being trustless and decentralized.
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What makes interBTC unique is the strict dedication to being trustless and decentralized. Users
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- **Secured by Insurance**. Vaults lock collateral on the interBTC parachain in various digital assets - in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. As a user, you only trust that Bitcoin and the DeFi platform you use are secure.
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- **Secured by Insurance**. Vaults lock collateral on the interBTC parachain in various digital assets - in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. As a user, you only trust that Bitcoin and the DeFi platform you use are secure.
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- **Radically Open**. Anyone can become a Vault and help secure interBTC, anytime. Yes, you can run your own Vault!
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## Guides
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**1. [Learn about Kintsugi, the canary network on Kusama - going live NOW](kintsugi/overview.md)**
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**2. [Get a detailed overview of interBTC](start/overview.md)**
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**3. [Issue your first interBTC](start/issue.md)**
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## Contributions
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interBTC is an open-source project. We welcome contributions to the code and documentation. Feel free to checkout our [GitHub](https://github.com/interlay) or [Discord](https://discord.gg/KgCYK3MKSf).
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interBTC and Kintsugi are an open-source projects. We welcome contributions to the code and documentation. Feel free to checkout our [GitHub](https://github.com/interlay) and [Discord](https://discord.gg/KgCYK3MKSf).

docs/kintsugi/crowdloans.md

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# The Kintsugi Crowdloan
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Kintsugi participates in the Kusama parachain auctions and supports a crowdloan to enable the community to vote.
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To participate in the crowdloan, you need to lock your KSM and vote for Kintsugi to become a parachain.
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To participate in the crowdloan, you need to lock your KSM and vote for Kintsugi to become a parachain.
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Below is a summary of the Kintsugi crowdloan details, as described in the [token economy whitepaper released by Kintsugi Labs](https://raw.githubusercontent.com/interlay/whitepapers/master/Kintsugi_Token_Economy.pdf).
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### Hard Facts
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## Hard Facts
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## Hard Facts
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* **Target slot: 6 - 10**
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* **Lease duration: 8 periods (maximum lease duration ~48 weeks)**
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* **Max. lockup target: 200 000 KSM**
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### Crowdloan Airdrop: 12%
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* **Main: 10% (1 million KINT)** of the initial 4-year KINT supply, with the following vesting schedule:
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* **30% transferrable** at launch
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* Remaining **70% linearly vested** over 48-week parachain lease period.
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* **Extra: 2%** in-protocol airdrops for crowdloan participants who run Vaults and mint kBTC, **not subject to vesting**.
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The **main 10%** airdrop will feature the following **special allocations**, to create a proactive crowdloan process:
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#### Crowdloan Airdrop: 12%
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### Crowdloan Airdrop: 12%
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* **Crowdloan: 10% (1 million KINT)** of the initial 4-year KINT supply
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* **Crowdloan: 10% (1 million KINT)** of the initial 4-year KINT supply
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* **Extra 2%** in-protocol airdrops for crowdloan participants who run Vaults and mint kBTC.
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To create a proactive crowdloan process, Kintsugi features the following **special airdrops:**
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* **Early**: 5% for first 3 days of crowdloan
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* **Referral**: 5% for the referrer and referred
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* **Early**: 5% for first 3 days of crowdloan
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* **Referral**: 5% for the referrer and referred
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* **Success**: up to 100 000 additional KINT if specific KSM lockup targets are achieved. See table:
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![Crowdloan Bonuses](../_assets/img/kintsugi/crowdloan_bonuses.png)
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Any KINT not used for the Core, Early, Referral and Success Airdrop will be distributed proportionally among all participants, further increasing the ratio of KINT per locked KSM.
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### Participating in the Crowdloan
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## Participating in the Crowdloan
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## Participating in the Crowdloan
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The crowdloan is a fully permissionless event - you make your own judgement on if and how you would like to participate.
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The crowdloan is a fully permissionless event - you make your own judgement on if and how you would like to participate.
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We recommend the following ways to participate:
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1. Participate via the [Kintsugi crowdloan website](https://kintsugi.interlay.io/) using the Polkadot.js browser extension.
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2. Participate via partner exchanges.
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3. Participate via partner mobile wallets.
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#### Guides
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### Guides
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Step-by-step guides incl. screenshots will be posted here shortly.
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Step-by-step guides incl. screenshots will be posted here shortly.

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