Kusama Treasury has granted Karura 22k (20k as incentive grant and 2k as aUSD liquidity grant) KSM used for boostrapping 3-pool (aUSD-USDT-USDC) powwered by the Taiga protocol deployed on Karura. This grant is used to support
- bootstrap Kusama-native decentralized stablecoin aUSD
- bootstrap Kusama-native USDT on Statemine parachain
- bring USDC liquidity from Ethereum to Karura/Kusama via Wormhole bridge
- Set up a dedicated keyless vault (namely the
Grant Vaulthereafter) on Karura to receive 22k KSM sent from Kusama Relay chain
- The Grant Vault will be managed by on-chain governance.
- Set up a temporary
LKSM/taiKSM Mint Proxyaccount, that will subsequently be used to split the 20k KSM roughly 50% as LKSM and 50% as taiKSM (synthetic KSM made from LKSM-KSM). The
LKSM/taiKSM Mint Proxywill be destroyed after completing the operations, and only
Grant Vaultcan transfer the funds via governance
LKSM/taiKSM Mint Proxyaddress:
- Set up an
aUSD Vault Management Proxyaccount, that will subsequently be used to generate aUSD liquidity from the 2k KSM, and manage the positions. The
aUSD Vault Management Proxycan only perform relevant aUSD vault management functions
aUSD Vault Management Proxyaddress:
- Follow-on proposals will release the funds in 12 tranches over 12-month period to Taiga protocol, who will be responsible to distribute them for the 3-pool LP participants.
Refer to the 3-pool program Proposal#2 for more details.
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[#54 - Proposal to Setup Keyless Vault to Receive & Manage Kusama Treasury Grant]#54 - Proposal to Setup Keyless Vault to Receive & Manage Kusama Treasury Grant