#5 List KSM/kUSD pair on Karura Swap

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Summary

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:

  • The Not Before block #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.

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

Incentive program proposal details are here

Proposal

  • 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)

Vote here & read about the democracy process here

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