Zenlink will soon launch trading mining and liquidity mining activities for vsKSM, BNC, kUSD, KSM
Zenlink, Polkadot’s first native cross-chain DEX, is now live on Bifrost and Moonriver and launching IYO. Currently, Zenlink has over $100M TVL on Moonriver, and on Bifrost, the BNC/KSM, vsKSM/KSM, KSM/kUSD Bootstrap has also been oversubscribed and is about to begin trading mining and liquidity mining activities at block height #704500 (expected November 6 at 13:00 UTC).
According to previously announced IYO details, Zenlink is offering 2,600,000 ZLK (total rewards across Bifrost, Moonriver, and Shiden) for this incentive campaign and will be distributed within 4 weeks. Users will be able to earn ZLK through participation in Trading Mining, Liquidity Mining, and invite to earn activities. More details about IYO incentives can be found here.
In addition, Bifrost Foundation has provided 110,000 BNC as an additional incentive for the incentive campaign, with the following incentive details for each pair (4-week total incentive).
In particular, kUSD will need to be cross-in Bifrost from Karura in order to participate in the campaign, and you can see a tutorial on how to cross-in kUSD to Bifrost here.
This means that users can earn both ZLK and BNC incentives for participating in the liquidity mining for the above-mentioned pairs.
For now, Bootstrap for BNC/KSM, vsKSM/KSM, and KSM/kUSD are all oversubscribed, and once the block height is reached, all users who provided liquidity to the above pools will receive the corresponding LP Tokens. if you want to be the first to participate in the liquidity mining, then you need to claim your LP Tokens and Stake them after the Bootstrap is completed.
However, if you don’t participate in the Bootstrap, you can also add liquidity to the pool after the Bootstrap ends and the liquidity pool is created to get LP Tokens and stake them to participate in the liquidity mining to earn ZLK&BNC.
What is vsKSM?
vsKSM is a derivative asset issued by Bifrost to unlock the liquidity of KSM locked in the parachain auction process. Users who participate in the parachain crowdloan using the Bifrost SALP protocol receive vsKSM+vsBond derivative assets and can redeem the pledged KSM in a 1:1 merger at the end of the slot lease period.
What is kUSD?
kUSD is a cross-chain over-collateralized stablecoin issued on the Karura blockchain similar to DAI and is one of the native assets of the Karura network.
Kusama native assets will soon be available on Zenlink DEX Trading and Farming are important manifestations of the interoperability of the Polkadot ecosystem, and as the XCMP matures in the future, more composability and interoperability of Polkadot DeFi will be available with Zenlink.
The Farming Pools for BNC/KSM, vsKSM/KSM, and KSM/kUSD are ready to be launched on November 6 at 13:00 UTC. (This time is not precise, it depends on the speed of the block produced by the Bifrost parachain)
If you have any questions about the launch of Zenlink, please join our Telegram group.
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