IYO targets achieved! ZLK transfer and listing will be enabled through Bootstrap
Since the launch of Zenlink’s IYO, all community members have been working towards the initial targets set. At the end of the 1st cycle of the IYO, we were just one step away from achieving the targets, and then we initiated a community poll and adjusted the IYO targets to take into account the actual situation. Today, we are pleased to announce that we have achieved our adjusted targets and will be enabling ZLK transfer and listing through Bootstrap.
In particular, the Bootstrap is part of enabling ZLK transfer and listing, and ZLK will open for transactions and transfers as soon as the Bootstrap is successfully completed. In addition, ZLK staking and LP farming will be available after Bootstrap ends, so if you expect to start ZLK transfers and transactions soon, you can participate in Bootstrap to boost it.
Bootstrap Pools
Bootstrap is designed to help bootstrap liquidity of a token pair, enabling liquidity pools to be created with greater capital efficiency during initial allocation and price discovery. It will separate the process of price changes, pair allocation, and liquidity construction, thus creating more reasonable exchange rates before trading, and effectively avoiding pre-emptive trading, etc. You can learn more about Bootstrap here: https://wiki.zenlink.pro/zenlink-dex-dapp/bootstrap
ZLK will start liquidity pools and open for trading on both Moonriver and Bifrost via Bootstrap, more details are below.
Bootstrap Pools on Moonriver
ZLK/MOVR
Minimum target provision（Minimum liquidity requirement to enable swap and staking）:
ZLK：100000
MOVR：1500
Maximum target provision:
ZLK：1000000
MOVR：15000
End block height: #963903
Time conversion: start time 2021–11–23 12:00 UTC, end time 2021–11–25 06:00 UTC, total duration 42h
ZLK/USDC
Minimum target provision（Minimum liquidity requirement to enable swap and staking）:
ZLK：100000
USDC：500000
Maximum target provision:
ZLK：1000000
USDC：5000000
End block height: #963903
Time conversion: start time 2021–11–23 12:00 UTC, end time 2021–11–25 06:00 UTC, total duration 42h
Bootstrap Pools on Bifrost
ZLK/KSM
Minimum target provision（Minimum liquidity requirement to enable swap and staking）:
ZLK：50000
KSM：1000
Maximum target provision:
ZLK：500000
KSM：10000
End block height: #816888
Time conversion: start time 2021–11–23 12:00 UTC, end time 2021–11–25 06:00 UTC, total duration 42h
ZLK/BNC
Minimum target provision（Minimum liquidity requirement to enable swap and staking）:
ZLK：50000
BNC：70000
Maximum target provision:
ZLK：500000
BNC：700000
End block height: #816888
Time conversion: start time 2021–11–23 12:00 UTC, end time 2021–11–25 06:00 UTC, total duration 42h
How to participate in Bootstrap?
Before participating in Bootstrap make sure you have successfully installed the Metamask (for Moonriver) and PolkadotJS (for Bifrost) extensions and have the appropriate token balance to participate in Bootstrap pools. The following is a quick tutorial.
Step 1: access https://dex.zenlink.pro/, and click “Bootstrap” on the left to enter the Bootstrap interface, select a random Bootstrap pool in progress and click “+Bootstrap” in its upper-right corner.
Step 2: select “Both” or “Single-Token” to add liquidity and enter the amount or quantity you want to add.
Step 3: complete the token approval and click the “Supply” button below, then sign and submit the transaction in your wallet.
Step 4: wait for Bootstrap to end and check the results, which contain the following two situations.
Once Bootstrap is successful, LP tokens will be allocated to all users who add liquidity during the Bootstrap process, and users can claim them in the following ways (generally speaking, after a successful Bootstrap, there will be a settlement period of several hours before users can claim their LP tokens):
- Enter DApp: https://dex.zenlink.pro/#/bootstrap/list.
- Check “My Bootstrap”, select the Bootstrap that you participated in and completed successfully, and click claim.
- After signing and confirming the transaction in the wallet, you can complete the application for the LP token, and then you can find the LP token on the “Pool” page.
If Bootstrap fails, users need to manually redeem their contributed tokens:
- Enter DApp: https://dex.zenlink.pro/#/bootstrap/list.
- Check “My Bootstrap”, select the Bootstrap that you participated in and failed, and click redeem.
- After signing and confirming the transaction in the wallet, you can complete the redemption of the token.
By now, you have understood the overall Bootstrap process. As part of the ZLK transfer and listing, Bootstrap will provide a great liquidity base for ZLK and create better trading conditions for the community. Upon successful completion of the Bootstrap, participants will be able to claim their LP tokens in the first instance and stake them in the LP Farming Pool to earn ZLK rewards.
FAQ
Q: When can I transfer and trade ZLK?
Once the Bootstrap is successfully completed, users will be able to make ZLK transfers and trades.
Q: Which tokens can participate in Bootstrap?
According to the upcoming Bootstrap pools, you will need to hold one or more of ZLK, MOVR, USDC, KSM, BNC tokens to participate in Bootstrap.
Q: Are there any rewards for participating in Bootstrap?
Users will not be rewarded for participating in the Bootstrap, but you can claim your LP Tokens as soon as the Bootstrap is completed and then stake them in the LP farming pools to earn ZLK rewards. Note that once you have claimed your LP Tokens and stake them, you will not be able to view your liquidity share in the “Pool” until you have redeemed your LP Tokens from the farming pool.
Q: When will ZLK staking and LP farming be available?
Once Bootstrap is successfully completed, we will deploy the staking and LP farming contracts (expected to last a few hours) and once it is ready, users will be able to participate in ZLK staking and LP farming.
If you have any questions about Zenlink, please join our Telegram group for answers!
Learn more about Zenlink:
📍 — DEX DAPP | Website | Twitter| Github | Telegram EN | Telegram CN | Announcements Channel
📚 — Whitepaper | Tokenomics
