MOVR/xcKINT Bootstrap and Liquidity Incentive Program to be launched on Zenlink DEX
Interlay is known for bringing Bitcoin to the Polkadot network, which will serve as the Polkadot parachain and connect to Cosmos, Ethereum, and other major DeFi networks. Kintsugi is the canary network of Interlay on the Kusama network, which won the Kusama slot in October 2021 and issues the KINT token.
With the opening of the HRMP channel between Kintsugi and Moonriver, KINT (and soon kBTC) can now be migrated from Kintsugi to Moonriver and accessed and used on Moonriver as xcKINT, for example, to perform DeFi activities.
xcKINT is the 3rd XC-20 token after xcKSM and xcRMRK. As the first native cross-chain DEX protocol on Polkadot, Zenlink has provided support with X-Transfer integration and building DeFi use cases for xcKSM and xcRMRK, so it is the same for xcKINT.
We have worked with the Kintsugi team to integrate KINT’s Kintsugi<>Moonriver transfer into X-Transfer and will launch a bootstrap and liquidity incentive program to provide DeFi gains for the Kintsugi community. Read on to learn more details about xcKINT bootstrap and farming, as well as how to transfer KINT from Kintsugi to Moonriver via X-Transfer.
MOVR/xcKINT Bootstrap Pool
In order for MOVR/xcKINT to have better liquidity before trading, we will create a MOVR/xcKINT liquidity pool through Bootstrap and we will offer ZLK + xcKINT rewards to all Bootstrap Pool contributors, more details about MOVR/xcKINT Bootstrap are as follows.
Minimum target provision（Minimum liquidity requirement to enable swap and staking）
- MOVR：1442
- xcKINT：8800
Maximum target provision
- MOVR：10811
- xcKINT：66000
Start & End Block
- Start Block: When Bootstrap contract is deployed
- End Block: #xxxx (will be added before the start based on the block production rate)
- Time conversion: start time 2022–3–9 8:00 am UTC, end time 2022–3–10 8:00 am UTC, total duration 24h
Incentives
- Total Incentives: 1500 ZLK + 180 xcKINT
- Rewards you can earn = Your LP Share * Total Rewards
MOVR/xcKINT LP Farming
Once the Bootstrap is successfully completed, we will initiate MOVR/xcKINT LP Farming to provide benefits to xcKINT holders as more details are below.
As a next step, once the Bootstrap is successfully completed, we will initiate MOVR/xcKINT LP Farming to provide DeFi gains for xcKINT holders and also provide the Dotsama community with the best DEX platform for swap xcKINT tokens. Below are more details on the xcKINT farming pool.
Farming Period: Long-term (if the incentive is adjusted or discontinued, a separate announcement will be made, please follow the Twitter or Zenlink Discord server)
Rewards calculation formula: actual rewards users can earn per block = (number of users staked tokens / total number of staked tokens) * reward release rate
Rewards Claim: users can claim rewards once in each reward interval, please refer to the countdown displayed on the front end of Zenlink DEX for the specific time to claim rewards.
How to Transfer Kintsugi Tokens to Moonriver via X-Transfer
X-Transfer is a new feature of Zenlink, which integrates cross-chain and token transfer functions and will be a great convenience for the community. It supports the one-click transfer of KINT or xcKINT between Kintsugi and Moonriver fast and at a low cost.
Note: Before migration, please make sure you have enough KINT balance on Kintsugi for cross-chain transfer and set aside a small amount of KINT for cross-chain network fees when transferring.
Step 1: Visit https://dex.zenlink.pro/ and find X-Transfer in the Swap page, and keep the default cross-chain option.
Step 2: Select the KINT token and select “Kintsugi” and “Moonriver” in the “Source chain” and “Destination chain” respectively.
Step 3: Input the amount of tokens to be transferred and fill in a Moonriver address to receive xcKINT, then click the Transfer button below.
Step 4: After confirming that the information is correct on the pop-up page, click the Transfer button again and sign in PolkadotJS to submit the transaction.
After a few moments, you will be able to see your xcKINT balance in Zenlink DEX by clicking on the wallet icon in the top right corner. Transferring xcKINT from Moonriver to Kintsugi will follow a similar process. In addition, you can also consider doing the above cross-chain operation through the Moonriver app.
It’s time to jump into the juicy pool and just enjoy it!
Learn more about Zenlink:
📍 — DEX DAPP | Website | Twitter| Github | Telegram EN | Telegram CN | Announcements Channel
📚 — Whitepaper | Tokenomics
