#2 List KAR/KSM pair via Bootstrap on Karura Swap

Summary

This proposal will enable the following Swap features

  • enable Bootstrap for KAR/KSM pool, read more on Bootstrap here
  • trading cannot start before block #183,600
  • minimum liquidity target for KAR is 100,000 OR minimum liquidity target for KSM is 1,000
  • each contribution requires a minimum of 10 KAR OR a minimum of 0.1 KSM

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

  • The Not Before block #183,600 has passed AND
  • Either the pool has 100,000 KAR OR 1,000 KSM in liquidity
  • Both Token A and Token has >0 liquidity

If this referenda passes, and Bootstrap kicks off:

  • It will start #block 174245 and ends #block 183600 (roughly 36 hours)
  • NO trading is allowed, therefore the exchange rate between KAR/KSM can be consolidated
  • You can contribute liquidity for KAR, or KSM, or KSM & KAR at the same time. The actual exchange rate of KAR/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 .

Disclaimer: the Acala Foundation may choose to use its own holding to contribute to the Bootstrap program to help kick start the trading pool.

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.

Proposal

The proposal has been fast-tracked so that it can be enabled soon after transfer is enabled.

  • Voting period is roughly 2 days
  • There’s a 3-hour delay period for execution upon referendum passes

Vote here & read about the democracy process here

4 Likes

The actual exchange rate of KAR/KSM can only be known once the Bootstrap is completed .