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What is Crowdloan?

Crowdloans are a component of Polkadot’s substrate framework that enables para chain development to produce $DOT and secure a place in the para chain auctions. There is a certain schedule set out for the crowdloan that must be followed before any para-chain slot auction can occur. Teams can use this area to borrow $DOT from locals for auctions. As a user, you donate your $DOT to the relay chain for the project rather than the team.


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