Enable PHA, List PHA/kUSD Pair

TL:DR

List Khala Network native token $PHA on Karura, and list PHA/kUSD pair on Karura Swap.
This proposal also include some future plans based on top of first move.

References

Links to

Description

Step 1

  • Enable token transfer between Karura and Khala
  • List $PHA on Karura Network as assets
  • List PHA/kUSD pair on swap, and enable $PHA holders provide liquidity on swap
  • Enable mint kUSD based on $PHA
  • Earn $KAR for staking PHA/kUSD LP

Step 2

  • Support assets like ETH, USDC, DAI from Ethereum-Khala bridge, and support BNB, BUSD, DOT from BSC-Khala bridge after Khala launch the bridges.
  • Enable Karura assets transfer to Khala PhaSe Wallet for privacy protection after Khala launch the function

Motivation

  • There are more than $100 millions cap as $PHA on Khala Network at the moment
  • Khala Network can engaged Karura good TVL as it’s one of the running Parachain
  • Khala Network can bring real use case like privacy Defi to Karura users.
  • After proposal passed on Khala end, we can also provide reward pool to engage $KAR holders

Author

Marvin Tong, Founder of Phala Network, Council member of Khala Network

9 Likes

Would Gauntlet monitor the “risk adjustments”?

Would we get a Loyalty Bonus Incentive?

Do you guys have a estimated timeline for this already?

What is the benefit of your privacy protection against for example Calamari’s Approach?

3 Likes

Thanks for the proposal. I’m looking forward to seeing PHA on Karura Swap!

Do you intend to utilize the Bootstrap mechanism or do you have other plans for providing the initial liquidity?

3 Likes

Would Gauntlet monitor the “risk adjustments”?

  • Should do. But I suggest the council find a solution for general risk control solution

Would we get a Loyalty Bonus Incentive?

  • Yes, that’s the proposal

Do you guys have a estimated timeline for this already?

  • This would launch between late Sep to Oct. Moonriver ecosystem already launch these assets.

What is the benefit of your privacy protection against for example Calamari’s Approach?

  • Smart contract level privacy preserving, not just token private or trans private. That’s the major diff
1 Like

Thanks for supporting us!
About liquidity, Not sure yet, we will also talk more details with Karura core team

2 Likes

Thanks you for the proposal !
Very happy to see other parachain token inside Karura Dex.

  • Earn $KAR for staking PHA/kUSD LP *
    Concerning the earn do you think also add some $PHA to earn by staking PHA/kUSD LP ?
    To increase the liquidity.

And do you think have a loyalty program on it ? 6 month ? 1 year ?

Thank you.

1 Like

Excellent proposal! :clap: :clap:

I agree with the other opinions, you have to find ways to increase the initial liquidity.

1 Like

Thanks for the proposal, Marvin. Look forward to more details on the listing and programs available.

Marvin - thanks for the proposal. Excited to see PHA on Karura Swap and am eager to see how a potential new collateral on Karura plays out.