#41
#35 Listing RMRK on Karura(start kUSD/RMRK, KSM/RMRK bootstrap)
Democracy
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Executed

Now that $RMRK is registered in Karura's app UI and the chain recognizes it, it is time to bootstrap a pool and get some liquidity going. For this, we propose the following parameters, more or less directly copied from Karura's BNC launch but adapted to both a KSM and a kUSD pool.

Proposal 1

  • Enable Bootstrap for RMRK/kUSD pool at #1,381,000 (estimated Monday, 24th Jan)
  • 48 hours of bootstrapping period ends at #1,394,000 (estimated Wed, 26th Jan)
  • Minimum liquidity target is 10,000 RMRK OR 250,000 kUSD
  • Minimum contribution requirement is 0.1 RMRK OR 1 kUSD

No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:

  • Not Before the ending block has passed AND
  • Either the pool has 10,000 RMRK OR 250,000 kUSD in liquidity
  • Both RMRK & kUSD has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

  • You can contribute liquidity for RMRK, or kUSD, or RMRK & kUSD at the same time. The actual exchange rate of RMRK/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 .

Proposal 2

  • Enable Bootstrap for RMRK/KSM pool at block 1,381,000 (estimated Monday, 24th Jan)
  • 48 hours of bootstrapping period ends at block #1,394,000 (estimated Wed, 26th Jan)
  • Minimum liquidity target is 10,000 RMRK OR 1000 KSM
  • Minimum contribution requirement is 0.1 RMRK OR 0.05 KSM

No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:

  • Not Before block the ending block has passed AND
  • Either the pool has 10,000 RMRK OR 1000 KSM in liquidity
  • Both RMRK & KSM has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

  • You can contribute liquidity for RMRK, or KSM, or RMRK & KSM at the same time. The actual exchange rate of RMRK/KSM 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 .

Incentives

There will be an LP incentive program. Details will be announced soon!

Edited
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Business
Metadata
Proposer
Index
41
Threshold
2
Hash
0xe6548adf0d2a9cf5f602762598994c589e5a375e368c16d0029b9611d2921402
Call
Table
Json
callIndex0x4507
sectiondemocracy
methodfastTrack
args
proposalHash0xba3f3e4e46ffe625035d384f2bfdc781180b660563658eaa120531b336963283
votingPeriod7200
delay300
TimelineLatest activity undefined
2022-01-19 03:56:54
Proposed
fastTrack
2/2
Aye(2)
Nay(0)
2022-01-19 03:56:54
Vote
2022-01-19 03:57:42
Vote
2022-01-19 03:58:06
Closed
2022-01-19 03:58:06
Approved
2022-01-19 03:58:06
Executed
Result
Succeed
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