Shiden treasury proposal for SDN incentive program on Karura Swap

Shiden Network (Kusama) Proposal
1

TL;DR

SDN is planned to be listed on Karura Swap in early August (SDN/aUSD pair). We would like to request 40K SDN ($13K) for the bootstrap + incentive program on Karura Swap after the listing.

Why this is important to Astar

Astar aims to become the innovation hub on Polkadot by providing true interoperability through XCM as well as supporting EVM + WASM smart contracts. Creating a new use case for SDN on Karura Swap is a great first step towards our collaboration with Acala ecosystem which will further expand to ASTR in the coming months. Successfully launching the pool in the initial phase is crucial and we would like to request support by the Shiden treasury.

Bootstrap Program

Before the trading can start, there is a bootstrap period on Karura Swap. This is a preparation period before listing. No trading is allowed during this period and the community can deposit either SDN/aUSD or both. This ends when the minimum liquidity target is met, and the bootstrap period ends (48 hours). SDN price at the end of the Bootstrap Program then becomes the opening trading price.

The minimum liquidity target is $50K, which means 25K aUSD and 80K SDN (≒$25K). In order to incentivize the community to provide liquidity during this period, we would like to request 5K SDN from the treasury for this. Acala team will airdrop the Bootstrap rewards to the participants directly after the Bootstrap end.

Below is how the bootstrap page on Karura Swap looks like

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For more information on Bootstrap Program on Karura Swap: https://docs.acalaswap.app/overview/bootstrap-program

Incentive Program

8 weeks incentive program will be held on Karura swap to boost the growth of the pool in the initial phase. We request 35K SDN for this campaign and this number comes from the simulation below.

The target TVL of this pool in week 8 is $440K which is the same amount as the pool by other parachains (e.g. aUSD/KBTC by Interlay). With 35K SDN, the APR will be around 14% in week 8 which is the same level as SDN dApp Staking. Acala team will also provide 2,000 KAR as an extra incentive in this pool.

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For more information on Incentive Program on Karura Swap: https://docs.acalaswap.app/overview/incentive-program

12 Likes
2

Totally support this proposal! Let’s make Astar and Acala ecosystem great! IMO partnerships like this is crucial for both development.

1 Like
3

Very good collab and added usecase. Definitely support this.

1 Like
4

I fully support this proposal. We need more tokens listed in karura (and next in Acala) and doing incentives is required for users bring liquidity.

3 Likes
5

I fully support SDN on Karura! It already took to long :slight_smile:
LFG!

4 Likes
6

Right all ideas,all sports

7

I also support this proposal. We should have more use cases on Shiden

4 Likes
8

Forum users with Trust Level 2 and above can vote

Approve proposal to use Astar Treasury
  • Yes
  • No

0 voters

9

@moderators @admins @Ambassadors @trust_level_2 @trust_level_3 @trust_level_4

Please vote wisely!

10

There is a typo on the poll.

“Approve proposal to use Shiden Treasury”.

I apologize for the mistake.

1 Like
11

I support this but just joined the forum so can’t vote. Also, can someone explain why this is not in the governance section on polkadot.js?

12

Because we do not have onchain governance yet.
@ShidenAstar

13

Good answer, thank you. :wink: