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A crowdloan is a type of funding used in crypto industry to promote decentralized applications (dApps) being developed on top of current blockchain networks or new blockchain projects. In a crowdloan, users can lend or stake their cryptocurrency assets, such as Bitcoin or Ethereum, in exchange for a reward or token issued by the project.

Crowdloans enable new initiatives to receive funds from a large pool of supporters without having to rely on conventional venture capital or funding sources, which can be a potent tool to promote innovation and development in crypto world.