PolarisDAO Launches on Karura Swap With Over 700,000 ARIS in Liquidity Mining Rewards

3 min readApr 19, 2022

Trustless trading for the ARIS/KSM pair will go live following a 48-hour period of one- or two-sided bootstrap provisioning on Karura.

Karura Swap, the AMM-style decentralized exchange on Kusama, has joined forces with PolarisDAO to introduce its newest trading pair ARIS/KSM. The pair will launch in Bootstrap mode on April 21 at 23:30 UTC with trustless trading scheduled to go live on April 23 at 23:30 UTC.

To celebrate the launch, PolarisDAO is offering liquidity mining rewards of up to 700,000 ARIS. The reward pool will be offered to ARIS/KSM liquidity providers within 2 months, and an additional 50% of the “loyalty” bonus will be offered to Karura Swap users who keep the reward in the pool until the end of the program.

Discover Trustless Trading with Karura Swap

Karura Swap is an automated market maker (AMM)-styled decentralized exchange protocol implemented and deployed as upgradable runtime modules on Karura. With support for both native Substrate tokens and ERC-20 tokens, Karura Swap serves as the gateway and liquidity hub of Kusama with Karura already accumulating over $52 million USD in total value locked via the exchange, kUSD stablecoin protocol, and KSM liquid staking derivative.

Better Liquidity with Bootstrap

Once launched, ARIS or KSM holders can provide one- or two-sided liquidity over the course of a 48-hour period, thanks to Karura Swap’s novel bootstrap mechanism.

Bootstrap is essentially a “warm-up” period for liquidity providers for any given pair on Karura Swap. With “Bootstrap,” Karura enables trustless trading at a fair market rate by temporarily disabling trading for a specific time period until the predetermined liquidity requirements are met. Once the bootstrap period is complete, the exchange rate is made public and trading is enabled on Karura Swap. More details on the Bootstrap period can be found here.

The ARIS/KSM pair will launch in Bootstrap mode on April 21 at 23:30 UTC and continue for an estimated 48 hours (with the period ending at block #1797581). Then trading will become enabled providing that the pool has met its set criteria targets of 500,000 ARIS or 250 KSM in liquidity.

Incentive Program

PolarisDAO has allocated a total of 700,000 ARIS to the incentive program. 100,000 ARIS will be distributed to liquidity providers during Bootstrap (48 hours), 600,000 ARIS will be distributed for 2 months, of which 50% will be distributed to liquidity providers within 15 days, and the remaining 50% will be distributed to loyalty programs.

Claim rewards before loyalty program ends will void loyalty bonus, which is 50% of the rewards.

Claim rewards after loyalty program ends will be eligible for the loyalty bonus.

Guides to Get Started

To transfer ARIS tokens to Karura, check out our transfer guide. For transferring ARIS to Karura via Polkawallet, you can follow the directions here.

About Karura

Karura is the all-in-one DeFi hub of Kusama. Founded by the Acala Foundation, Karura is a scalable, EVM-compatible network optimized for DeFi. The platform offers a suite of financial applications including: a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX — all with micro gas fees that can be paid in any token. Karura is a blockchain platform custom-built for DeFi and powered by KAR, which enables settlement for transactions and smart contract execution, incentivizes node operators, and empowers its holders to participate in governance.

About PolarisDAO

PolarisDAO is a community-managed DAO with members from Web3 developers, artists, and venture capitalists. We are committed to advancing the NFTs market in the Dotsama ecosystem and identifying early investment opportunities.

PolarisDAO Launches on Karura Swap With Over 700,000 ARIS in Liquidity Mining Rewards

Written by PolarisDAO