List QTZ/aUSD pair on Karura swap with incentive

TL;DR

Proposal to list QTZ (Quartz by Unique) native token on Karura Swap as the initial step to Advanced Economic Models implementation.

Motivation

As an old player of Polkadot ecosystem, we would like to integrate with multiple solutions in it. Listing QTZ on Karura swap is the first step towards integrating the projects we are going to host into the ecosystem.

Description

Unique Network applications can create their own cryptocurrencies as Substrate tokens or as an ERC-20 compatible fungible token. The first ambitious goal for Unique Network is to enable paying Quartz network fees in application currency to help their users avoid the necessity to deal with both QTZ and application tokens, and finally to enable application developers to sponsor user transactions to completely shield the end users from dealing with cryptocurrencies and creating the perfect frictionless user experience.

Nonetheless, for the safety of Quartz tokenomics, we need to be able to exchange application tokens back for Quartz. In order to complete the circle For the seamless exchange between application tokens and QTZ, we need to list QTZ on the Karura swap as the first step.

See Quartz tech paper to read more on the subject of Transaction Sponsoring and Advanced Economic Models:

## Proposal 1

  • Enable Bootstrap for QTZ/aUSD pool at block #TBD
  • 168 hours of bootstrapping period ends at block #TBD
  • Bootstrap Start Time: April 13, 2022 10:00 PM (UTC)
  • Minimum liquidity target is 500,000 QTZ OR 50,000 aUSD
  • Minimum contribution requirement is 10 QTZ OR 1 aUSD

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

  • Not Before the ending block has passed AND
  • Either the pool has 500,000 QTZ OR 50,000 aUSD in liquidity
  • Both QTZ & aUSD has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

  • You can contribute liquidity for QTZ, or aUSD, or QTZ & aUSD at the same time. The actual exchange rate of QTZ/aUSD 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.

## Incentives

Incentives Parameter(Block TBD)

Incentives for LP: 1m QTZ + 3k aUSD

Incentives for Bootstrap: 200k QTZ (The Bootstrap rewards will airdrop to the participants directly after the Bootstrap end).

Incentives Period: 3 months

Loyalty Bonus Percentage: 50% (Claim rewards before loyalty program ends will void loyalty bonus, which is 50% of the rewards).

Loyalty Program Period: 3 months (Claim rewards after loyalty program ends (Block number TBD) will be eligible for the loyalty bonus).

## Proposal 2

  • Enable Bootstrap for QTZ/KAR pool at block #TBD
  • 168 hours of bootstrapping period ends at block #TBD
  • Bootstrap Start Time: April 13, 2022 10:00 PM (UTC)
  • Minimum liquidity target is 500,000 QTZ OR 25,000 KAR
  • Minimum contribution requirement is 10 QTZ OR 0.1 KAR

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

  • Not Before block the ending block has passed AND
  • Either the pool has 500,000 QTZ OR 25,000 KAR in liquidity
  • Both QTZ & KAR has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

  • You can contribute liquidity for QTZ, or KAR, or QTZ & KAR at the same time. The actual exchange rate of QTZ/KAR 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.

## Incentives

Incentives Parameter(Block TBD)

Incentives for LP: 1m QTZ + 1500 KAR

Incentives for Bootstrap: 200k QTZ (The Bootstrap rewards will airdrop to the participants directly after the Bootstrap end).

Incentives Period: 3 months

Loyalty Bonus Percentage: 50% (Claim rewards before loyalty program ends will void loyalty bonus, which is 50% of the rewards).

Loyalty Program Period: 3 months (Claim rewards after loyalty program ends (Block number TBD) will be eligible for the loyalty bonus).

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