ZLK/KAR Bootstrap and Liquidity Incentive Program to be launched on Zenlink DEX

Published in

Zenlink Foundation Ltd.

5 min readDec 16, 2021

As the first native cross-chain DEX protocol on Polkadot, Zenlink will actively explore cooperation with more Polkadot/Kusama parachains to maximize the utility of the Zenlink DEX Protocol and serve the dotsama community.

Today we are pleased to announce that after Moonriver and Bifrost we will be working with Karura Network and as a first step we will launch the ZLK/KAR Bootstrap on Zenlink DEX to complete the listing of KAR on Zenlink DEX and a liquidity incentive program will be launched accordingly.

Since KAR will need to cross-chain from Karura to Bifrost via HRMP, this is a three-way collaboration between the Zenlink, Karura, and Bifrost teams, and we will be providing the community with a user guide with more details below.

ZLK/KAR Bootstrap Pool

In order to establish better liquidity for ZLK/KAR pair before opening for trading, we will build a ZLK/KAR liquidity pool through Bootstrap, again, Bootstrap Pool contributors will still be able to earn ZLK rewards, more details about ZLK/KAR Bootstrap are as follows.

Minimum target provision（Minimum liquidity requirement to enable swap and staking）

ZLK：50,000
KAR：30,000

Maximum target provision

ZLK：1,000,000
KAR：1,000,000

Start & End Block

Start Block: When Bootstrap contract is deployed
End Block: #970460
Time conversion: start time 2021–12–16 1:00 pm UTC, end time 2021–12–18 1:00 am UTC, total duration 36h

Incentives

Total Incentives: 5000 ZLK
Rewards you can earn = Your LP Share * Total Rewards

ZLK/KAR LP Farming

Once the Bootstrap is successfully completed, we will initiate ZLK/KAR LP Farming to provide benefits to KAR holders as more details are below.

Farming Period: December 18 — January 18, 2021 (LP Farming will last #214272 blocks, and this period is estimated based on the total prize pool and reward release rate, subject to block confirmation time)

Total Farming Incentive: 35000 ZLK + 6000 KAR + 4000 BNC

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/redeem earned ZLK at any time from the Earn screen in Zenlink DEX

User Guide

To participate in the ZLK/KAR Bootstrap and LP farming requires cross-chaining the KAR from the Karura parachain to the Bifrost parachain, and the following are two cross-chaining methods for community reference.

Option 1: Cross-Chain via Karura Swap

Step 1: Use your PC browser to visit https://apps.karura.network/portfolio/cross-chain and connect your wallet.

Step 2: Select “From Chain”, “To Chain” and the token to be Cross-Chained respectively, then enter the amount, confirm the information is correct and click “ Transfer”, then sign in PolkadotJS to submit the transaction.

Once the transaction is complete, you will be able to view your KAR balance on the Bifrost parachain at https://bifrost.app/wallet, so far you have completed your KAR cross-chain and will be able to participate in the Bootstrap in Zenlink DEX (https://dex.zenlink.pro/#/ bootstrap/list).

Option 2: Cross-Chain via Bifrost DApp

Step 1: Use your PC browser to visit https://bifrost.app/wallet and connect your wallet.

Step 2: Slide down to find the KAR token and click Cross-chain on the right side to select “Cross-in”.

Step 3: Click to select Karura and then click the “Confirm” button.

Step 4: Enter the amount of KAR tokens you want to cross-chain to Bifrost and click “Confirm”.

Step 5: After confirming the information is correct, click “Confirm” and sign in PolkadotJS to submit the transaction.

After the transaction is completed you can try to refresh the page and check the KAR balance, after the balance is shown correctly you can visit Zenlink DEX: https://dex.zenlink.pro/#/bootstrap/list and wait for Bootstrap to open and participate in it.

FAQ

Q: How to participate in Bootstrap?

A: You can check out how to participate in Bootstrap in the Zenlink Wiki: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide/using-zenlink-dex#bootstr

Q: What are the benefits of contributing liquidity to the ZLK/KAR Bootstrap Pool?

A: ZLK/KAR Bootstrap Pool contributors will split the ZLK prize pool based on the liquidity share, while you will claim your LP tokens upon successful completion of the Bootstrap, and once LP farming starts you will be able to stake your LP tokens to the farming pool to earn more ZLK.

Q: Can I cross-chain my KAR back to the Karura parachain?

A: Yes, you can follow a similar process to cross-chain your KAR back to the Karura parachain by referring to the cross-chain guide above.

Learn more about Zenlink:

📚 — Whitepaper | Tokenomics