Inaugural taiKSM/TAI Pool Launch on Karura
We’re excited to announce the first taiKSM/TAI pool 🎉 ! The pool will be live on 3/23/2022 3:00 UTC.
taiKSM, the first synthetic KSM asset that has been launched on Karura is now live for trading! taiKSM was designed to become an integral part of the entire Kusama ecosystem — in a few words :
- taiKSM enables highly efficient swap transactions (KSM-LKSM)
- taiKSM maintains a stable peg against KSM
- taiKSM unifies siloed KSM liquidity across Parachains
- taiKSM maintains and distributes yields from underlying KSM derivatives to taiKSM holders (ie. LKSM)
We encourage all taiKSM and $TAI holders to participate in the taiKSM/TAI pool to help bootstrap liquidity. The goal of taiKSM/TAI pool is to enable:
- Indicative pricing for $TAI
- Bootstrapping initial liquidity for $TAI
- An exchange medium for supporters to buy/sell $TAI
As a friendly reminder, all interactions with Taiga Protocol during our Soft Launch period will count towards protocol usage. Early supporters and users of Taiga Protocol will be incentivized with exclusive benefits. For details, please refer to Taiga Soft Launch.
Benefit as LPs
For liquidity providers supplying taiKSM and TAI to the pool, you can earn the swap fees which will be paid out in the form of taiKSM and TAI.
How to provide liquidity
- Access Karura and connect your wallet
- Select “Swap” from the left-hand menu, then select the “Liquidity” tab and select “Add Liquidity”
- Choose “LP TAI-taiKSM” as the pair token
- Then enter the amount of taiKSM and TAI you wish to provide (It will be based on a determined ratio, so just need to enter one of them)
- Click the “Add Liquidity” button and sign the transaction
*Do not open the “Stake LP Tokens” option to add liquidity
- You can see your LP token in the asset list of portfolio page
How to remove liquidity
- Access Karura and connect your wallet
- Select “Swap” from the left-hand menu, then select the “Liquidity” tab and select “Withdraw Liquidity”
- Choose “LP TAI-taiKSM” as the “Withdraw Token”
- Then enter the amount you wish to withdraw
- Click the “Withdraw Liquidity” button and sign the transaction
*If you opened the “Stake LP Tokens” option to add liquidity, you need to open the “Automatically unstake LP Tokens and withdraw” option to withdraw
Resources
About Tapio & Taiga
Tapio is a synthetic asset protocol enabling efficient liquidity for uniform assets on Polkadot. It is designed to mitigate liquidity silos by synthesizing different formats of assets into a highly usable synthetic asset in the Polkadot ecosystem. Taiga is an experimental protocol on Kusama and the sister project of Tapio.
Tapio officially started in early 2021 when we received the Web3 Foundation Open Grant and the inaugural Acala Ecosystem Grant. Our team is composed of engineers, financiers, security experts and serial entrepreneurs based in Canada, China , Europe and the U.S.
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