List PHA/kUSD pair on Karura Swap with incentive

Summary

This proposal will start the bootstrapping period for trading pair PHA/kUSD on Karura Swap.

Proposal

  • Enable Bootstrap for PHA/kUSD pool at block #1697502 (est. TBD)
  • 12 hours of bootstrapping period ends at #1700047 (est. TBD)
  • Minimum liquidity target is 250,000 PHA OR 50,000 kUSD
  • Minimum contribution requirement is 50 PHA OR 10 kUSD

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

  • The Not Before block #1700047 (est. 2022/03/25 02:00 UTC) has passed AND
  • Either the pool has 250,000 PHA OR 50,000 kUSD in liquidity
  • Both PHA & kUSD has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

  • It will start at block #1697502 til #1700047 (roughly 12 hours)
  • NO trading is allowed during this period
  • You can contribute liquidity for PHA, or kUSD, or PHA & kUSD at the same time. The actual exchange rate of PHA/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 are 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.

If you just want to trade, then please wait till the trading is enabled.

Incentive Program

  • Phala Network has allocated a total 100k PHA + 10k kUSD for the incentive program. 10% of the total incentive reward will be distributed to the liquidity providers in Bootstrap period(12 hours), and 90% will be a 14 days period campaign.

  • Total Incentives

    • 100k PHA
    • 10k kUSD
  • Duration: from block #1700339 to #1801141

  • Loyalty Bonus Percentage: 50%

    • Claim rewards before the loyalty program ends will void loyalty bonus, which is 50% of the rewards. Read more on the AcalaSwap wiki under “Incentive Program”
    • Claim rewards after loyalty program ends (#2139539) will be eligible for the loyalty bonus.

Additional Links

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