List SDN/kUSD pair on Karura Swap

Shiden is a multichain dApp hub on Kusama supporting Ethereum Virtual Machine, WebAssembly, and multiple L1 blockchains. Shiden became a Kusama Parachian back in June 2021 and now it is ready to test XCM with Karura.

Please find more information from @astarnetwork | Linktree

TL;DR
List SDN (Shiden’s native token) on Karura Swap and open SDN/kUSD pair.

Motivation
There are at least 3 motivations. First, we have been working with the Acala team for years and make technical innovations together in the Polkadot ecosystem such as the first-ever XCMP transaction on Rococo. Kusama is now live and we would like to create the next chapter of Polkadot/Kusama’s history together with the Acala ecosystem. Second, it is very important to list our native token on decentralized exchanges so that it becomes easier for people to get involved in our community and ecosystem. Third, XCM is the core feature of Kusama. It is meaningful for the entire Kusama community to create the XCM use cases together.

Evaluation of Liquidity Pool

  • Trading pair: SDN/kUSD
  • Motivations for creating the pool: We would like to start from the most basic pair and increase the number of pairs step by step.
  • Mechanisms for listing new pools: Bootstrap listing, with liquidity mining.
  • List Bootstrap parameters if applicable:
  • Liquidity Program if any: No trading is allowed during Bootstrap campaign.
  • Incentive: In total $30k worth SDN for the first 3 months

Evaluation of the tokens

  • Utility of the token: SDN is the native token for Shiden Network
  • Features and innovation of the protocol, product, blockchain behind the token: Shiden Network is a multichain dApp hub supporting Ethereum Virtual Machine, WebAssembly, and multiple layer1 blockchains.
28 Likes

Great idea and great to see a collaboration like this come to life. Will serve as a prime example for the rest of the Polkadot ecosystem.

5 Likes

Excellent initiative

2 Likes

Great! Can’t wait to see XCM in action here.

2 Likes

I think that’s a great Idea!! Would be great to be using SDN ASAP.

2 Likes

This is great. Would you mind providing more detail on the bootstrap parameters (e.g., how big does the pool need to be? which block will trading be allowed to begin?)

Additionally, could you please share some more detail on the liquidity mining program? You said it’s going to be equivalent to $30k USD over 3 months. Is that $30k per month or over the entire program? Also, is there any loyalty bonus program with this?

2 Likes

Excellent proposal, every time we see more about XCM technology.

Do you plan to enable SDN as collateral to mint kUSD?

You will share more details about Bootstrap later right?

1 Like

Did this proposal list on karura vote ?

1 Like

Thanks for your reply. Actually, this is what we wanted to discuss with the community.

2 Likes

I think any proposal that list new asset on KAR is good, community will accept almost when voting.

1 Like

It’s good to have an SDN online on swap, but I think the SDN of $30,000 is a little bit less, so you can consider more.

2 Likes

yeb, so less compare with 200k of BNC proposal :)))

Thank you guys for your interest. We are currently working on our crowdloan preparation. This should be our first priority after our preparation is done.

1 Like

We would like to hear some news.
Have both Teams started building their XCM cooperation ?

We lack of DEX parachain trading pairs, the whole ecosystem needs them.

we started this integration a few days ago :wink:

3 Likes

Awesome this is happening, @Sota_Watanabe. Any general ETA for when the integration will be complete?