Bootstrapping Turing Liquidity on Mangata X
Announcing the TUR:MGX liquidity pool and bootstrap launching August 29th!
The OAK Strategic Partnerships Fund and Mangata Ecosystem Development Fund are pleased to announce the TUR:MGX trading pair launch with 1,000,000 $TUR and 10,000,000 $MGX added to the bootstrap on August 29th.
All Kusama users are invited to help establish and maintain deep liquidity for the $TUR liquidity pool launching on Mangata X, the revolutionary proof-of-liquidity DEX that features gas-less swaps and eliminates front-running.
Join the bootstrap on August 29th at liquidity.mangata.finance by contributing $TUR or $MGX into the liquidity pool. Any Kusama user can deposit $KSM and swap for $MGX now to get ready to buy $TUR or provide liquidity for Turing Network’s native currency. All liquidity providers on Mangata X share 25 million $MGX in monthly liquidity rewards, so LP yield forecast is … sunny* 😎
TUR:MGX swapping will be disabled for the first 48 hours to protect early traders from high slippage.
Turing Bootstrap Bonus
50,000 $TUR will be distributed in rewards from OAK’s Strategic Partnerships Fund to Kusama users who participate in bootstrapping the pool (first 48 hours) and continue to provide liquidity for at least 7 days. Snapshots of Mangata X blocks will be taken to:
- Determine each account’s contribution to bootstrapping TUR:MGX as a percent of liquidity in the Mangata X block when trading begins*.
- Verify continued liquidity for 7 days after trading begins.*
*$TUR and $MGX contributions from treasuries are not eligible for Turing Bootstrap Bonus. Users who withdraw TUR:MGX liquidity before 23:00:00 UTC on September 7 are also not eligible for the Turing Bootstrap Bonus… this is definitely not financial advice.
Follow OAK and Mangata social channels for reminders and updates on the timing of the launch on the 29th (only ten days away)!👇
Mangata is a next-generation DEX with the mission to make tokens from all ecosystems tradable on a single DEX. It features gasless swaps, prevents front-running and MEV on the consensus level without additional fees, and secures the network with the revolutionary proof-of-liquidity consensus. As a Layer 1 app-chain building on Substrate, it is not bound by legacy restrictions and can customize the rules of the chain to optimize the whole ecosystem around capital efficiency and fairness.
About OAK Network
OAK Network is a layer one blockchain that enables multi-chain applications to automate single or recurring transactions using a simple ‘if this’ trigger condition and ‘then that’ transaction instruction. As the web3 hub for cross-chain automation, OAK unlocks a diverse range of rich DeFi user experiences including scheduled and recurring payments, stable-cost-averaging, stop loss and limit orders, and non-custodial copy trading.