Bifrost will support Calamari Kusama Crowdloan through SALP Protocol
We are pleased that Bifrost will be supporting Calamari in the second batch of the Kusama slot auctions through the SALP protocol and releasing its contributors’ bonding liquidity.
Bifrost x Calamari
As the canary network of Manta, Calamari will be first rolling out Maripay and Mariswap as on-chain privacy products, as it paves the way for privacy as a utility service within the entire Kusama ecosystem. Using zkSNARKs with a focus on DeFi, Calamari Network will open the opportunities for financial tools built on Web 3.0 by offering a layer of decentralized privacy. Bifrost intends to leverage Calamari’s privacy technology to accelerate the development of its own projects including privacy-preserving derivatives.
Calamari will participate in the second batch of Kusama slot auctions as one of the strongest competitors. In an effort to assist in the Calamari crowdloan, Bifrost will partner with Calamari to offer its SALP protocol. Using the SALP protocol, users will be able to join derivatives mining with vsKSM, and receive Bifrost’s native token $BNC as a reward. This is on top of the $KMA rewards that users receive as part of the Calamari crowdloan rewards. Once Calamari wins the auction, the vsKSM will be tradable for swap between KSM and other assets effortlessly.
Calamari Crowdloan Rewards
In the 2nd batch of bidding, Calamari is offering the following rewards for those who vote Calamari:
- Stake 1 KSM to earn 10,000 KMA
Calamari Token $KMA is distributed with a community-first focus. Up to 30% of the project’s entire supply (3,000,000,000 KMA) is distributed to Crowdloan participants as part of the rewards for helping Calamari Network secure a parachain.
- 10% Bonus for Frontline Supporters
The first 500 supporters receive a 10% bonus reward of $KMA.
- 5% Bonus for Early Supporters
Supporters 501 to 1,000 receive a 5% bonus reward of $KMA.
- 5% Bonus for Referral Fees
Referrers and referred supporters both receive 2.5% bonuses in $KMA.
More information on Calamari Crowdloan rewards can be found at this link: https://mantanetwork.medium.com/the-calamari-crowdloan-on-kusama-74a3cb2a2a4b
Calamari Crowdloan: https://crowdloan.calamari.manta.network/
What is SALP?
SALP (Slot Auction Liquidity Protocol) aims to issue derivatives vsKSM/vsDOT for KSM/DOT Parachain contributors, vsKSM/vsDOT can be used for DeFi applications such as swap and liquidity mining during the KSM/DOT bonding period, exchange KSM/DOT in AMM at any time. After the parachain lease expires, derivatives can be fully redeemed for KSM/DOT in 1:1. Learn more about SALP.
What is Calamari
Calamari, Manta Network’s canary-net, is the plug-and-play privacy-preservation parachain built to service the Kusama DeFi world. It combines Kusama and zkSNARKs to bring on-chain privacy to transactions and swaps.
- MariPay, its token-agnostic private payment service. MariPay supports the private transfer of Kusama and its Parachain assets, including major crypto assets supported on Kusama. Users can transact popular assets like stablecoins and wrapped BTC while simultaneously reaping the benefits of on-chain privacy through ZKP.
- MariSwap, its private AMM-based DEX. MariSwap offers users the capability of swaps between parachain assets while preserving the privacy of the user addresses. It also provides never-before-seen features in the industry such as private liquidity pools.
Calamari will be the only platform on Kusama that can meet user on-chain privacy needs, boost anti-surveillance, and ensure private tokens’ decentralization and interoperability.
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked assets to provide liquidity. Bifrost launched derivatives asset vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of the Substrate Builders Program and Web3 Bootcamp.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as staking and Crowdloan through vToken, realize the risk hedging of staking assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.