AIR/aUSD Listing and Liquidity Incentive Program Launching on Karura Swap
48-hour bootstrap provisioning period expected live on July 13
We’ve been busy building on our experimental Kusama network, Altair. Now that the XCM channel between Altair and Karura is finally open, it’s time to move forward and list AIR/aUSD on Karura Swap!
The AIR/aUSD bootstrapping period will start at block 2266477 (est. 7/13/2022 13:00 UTC) and will last for 48 hours. If liquidity targets are met, AIR/aUSD will be tradable on Karura Swap shortly after the end of the bootstrapping period.
Listing AIR/aUSD on Karura Swap is the first step to ensure people can trade AIR on a DEX natively on Kusama, increasing token availability and community involvement in the ecosystem. Further pairs will be added subject to community discussion.
Incentive Program & Loyalty Bonus
To incentivize users to provide liquidity to the upcoming AIR/aUSD pool, Altair has allocated a total of 1,000,000 AIR and 2,000 KAR. The 1,000,000 AIR will be distributed as follows: 100,000 AIR will be distributed to the participants of the bootstrapping period (first 48 hours), while 900,000 AIR will be distributed over a 30 day period.
Total Incentives: 1,000,000 AIR + 2,000 KAR
Bootstrap Duration (approx. 48 hours): from block 2266477 to 2278819
Incentive Duration (30 day period): from block 2278819 to 2470133
Loyalty Bonus Percentage: 50%
- Claiming rewards before the end of the 30 day incentive period will void the loyalty bonus, which is 50% of the rewards. Read more on the AcalaSwap wiki under “Incentive Program.”
- Rewards claimed after the loyalty program ends (at block 2524430) will be eligible for the loyalty bonus.
About Altair
Altair is Centrifuge’s canary network on Kusama. Centrifuge allows issuers to tokenize Real-World Assets (RWAs), bridge them on-chain as NFTs and borrow stables against them. aUSD will be the first decentralized stablecoin supported to fund the lending pools on Altair. A next step could be to use AIR as collateral to mint aUSD once the pool has enough liquidity.
About Karura
Karura/Acala is the EVM compatible DeFi hub of the DotSama ecosystem. Its flagship product is a decentralized overcollateralized stablecoin called aUSD. Karura Swap is a trustless, automated market maker (AMM)-style decentralized exchange on the Karura network. Karura Swap supports the ability to trade native Substrate tokens and ERC-20 tokens.
