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Summary
This proposal will start the bootstraping period for trading pair BNC/kUSD on Karura Swap.
Proposal
- Enable Bootstrap for KSM/kUSD pool at block #782000 (est. 2021/10/19 13:00 UTC)
- 48 hours of bootstrapping period ends at #795800 (est. 2021/10/21 13:00 UTC)
- Minimum liquidity target is 20,000 BNC OR 200,000 kUSD
- Minimum contribution requirement is 0.1 BNC OR 1 kUSD
No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:
- The
Not Before block #795800 (est. 2021/10/21 1300 UTC) has passed AND
- Either the pool has 20,000 BNC OR 200,000 kUSD in liquidity
- Both BNC & kUSD has >0 liquidity
If this referendum passes, and Bootstrap kicks off:
- It will start block #782000 till #795800 (roughly 48 hours)
- NO trading is allowed during this period
- You can contribute liquidity for BNC, or kUSD, or BNC & kUSD at the same time. The actual exchange rate of BNC/kUSD can only be known once the Bootstrap is completed .
- At the time of your contribution, you are allocated a number of LP tokens, and indicative LP shares of the pool, which are subject to change as more liquidity is added.
- You should only participate if you want to become a liquidity provider for the pool. Please be aware of various risks associated with being a liquidity provider .
Note: Please read carefully how the Bootstrap works , and various risks associated with being a liquidity provider.
If you just want to trade, then please wait till the trading is enabled.
Incentive Program
Bifrost Foundation have allocated 200,000 BNC for an incentive program for the liquidity provider of BNC/kUSD pool with total duration of 3 months. In additional to that, Acala Foundation also allocated 25,000 KAR as additional incentive to BNC/kUSD liquidity providers.
- Total Incentives
- 200,000 BNC or 66,666 BNC per month for 3 months
- 25,000 KAR or 8333 KAR per month for 3 months
- Duration: from block #795800 to #1443800
- Loyalty Bonus Percentage: 70%
- Claim rewards before loyalty program ends will void loyalty bonus, which is 70% of the rewards. Read more here.
- Claim rewards after loyalty program ends (#1443800) will be eligible for the loyalty bonus.
Additional Links