List BNC/kUSD pair on Karura Swap and incentive program for BNC/kUSD liquidity providers
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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

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Metadata
Proposer
Hash
Delay
02021-10-19 13:44:54
End
02021-10-19 12:37:36
Threshold
Call
Table
Json
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sectionutility
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calls
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args
currencyIdA
tokenKUSD
currencyIdB
tokenBNC
minContributionA1000000000000
minContributionB100000000000
targetProvisionA200000000000000000
targetProvisionB20000000000000000
notBefore795800
1
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dex
dexShare
0
tokenKUSD
1
tokenBNC
1
0
0
tokenKAR
1192900000000
1
0
tokenBNC
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2
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args
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0
dex
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tokenKUSD
1
tokenBNC
10x000000000000000009b6e64a8ec60000
3
callIndex0x0200
sectionscheduler
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args
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maybePeriodicnull
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call
callIndex0x0302
sectionutility
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args
calls
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callIndex0x7805
sectionincentives
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args
updates
0
dex
dexShare
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tokenKUSD
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tokenBNC
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0
0
tokenBNC
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1
0
tokenKAR
10
TimelineLatest activity undefined
2021-10-18 12:41:00
Started
referendumIndex
22
voteThreshold
SimpleMajority
2021-10-19 12:37:36
Passed
referendumIndex
22
2021-10-19 13:44:54
Executed
result
ok
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