List QTZ/kUSD pair on Karura Swap

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 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:

Sponsoring pallet is available at this GitHub repository:

9 Likes

More HMRP, more benefits for everyone.
Go for it of course !

2 Likes

This is an updated proposal that includes following updates:

  • Add QTZ-KAR pair to the listing
  • Add liquidity providing plans and bootstrap parameters

Proposal 1

  • Enable Bootstrap for QTZ/kUSD pool at block #TBD
  • 48 hours of bootstrapping period ends at block #TBD
  • Minimum liquidity target is 1,000,000 QTZ OR 100,000 kUSD
  • Minimum contribution requirement is 10 QTZ OR 1 kUSD

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 1,000,000 QTZ OR 100,000 kUSD in liquidity
  • Both QTZ & kUSD has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

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

Proposal 2

  • Enable Bootstrap for QTZ/KAR pool at block #TBD
  • 48 hours of bootstrapping period ends at block #TBD
  • Minimum liquidity target is 1,000,000 QTZ OR 50,000 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 1,000,000 QTZ OR 50,000 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

There will be an LP incentive program. Details will be announced soon!

2 Likes

We’d like to make following updates to the proposals:

Proposal 1

  • 168 hours of bootstrapping period ends at block #TBD

Proposal 2

  • 168 hours of bootstrapping period ends at block #TBD
1 Like

Of courde we wznt QTZ in Karura !!