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This proposal will enable the following Swap features
- enable Bootstrap for KSM/kUSD pool, read more on Bootstrap here
- this is a short Bootstrap between block #268,500-#269500 (roughly 3 hours) as KSM doesn’t need much discovery
- trading cannot start before block #269500
- minimum liquidity target for KSM is 250 OR minimum liquidity target for kUSD is 50,000
- each contribution requires a minimum of 0.1 KSM OR a minimum of 20 kUSD
No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:
Not Beforeblock #269500 has passed AND
- Either the pool has 250 KSM OR 50,000 kUSD in liquidity
- Both KSM & kUSD has >0 liquidity
If this referendum passes, and Bootstrap kicks off:
- It will start block #268,500 till #269500 (roughly 3 hours)
- NO trading is allowed during this period
- You can contribute liquidity for KSM, or kUSD, or KSM & kUSD at the same time. The actual exchange rate of KSM/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 .
Disclaimer: the Acala Foundation may choose to use its own holding to contribute to the Bootstrap program to help kick start the trading pool.
If you just want to trade, then please wait till the trading is enabled.
Incentive program proposal details are here
- Voting period is fast-tracked, roughly 15 hours (so that if passes, the pair will be listed after kUSD minting is enabled in this proposal)