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This proposal will start the bootstraping period for trading pair BNC/kUSD on Karura Swap.
- 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:
Not Beforeblock #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 .
If you just want to trade, then please wait till the trading is enabled.
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.
- Previous discussion: https://acala.discourse.group/t/list-bnc-kusd-pair-via-bootstrap-on-karura-swap/291
- Subscan: https://karura.subscan.io/referenda/22
- SubSquare: https://www.subsquare.io/karura/democracy/referendum/22
- Karura Forum: https://acala.discourse.group/t/21-list-bnc-kusd-pair-on-karura-swap-and-incentive-program-for-bnc-kusd-liquidity-providers/383