Bifrost Launches On Karura Swap For Liquidity Mining Program
Karura Swap has collaborated with Bifrost Finance to introduce its newest trading pair BNC/kUSD. The pair will launch in Bootstrap mode on October 19 at 13:00 UTC with trustless trading scheduled to go live on October 21 at 13:00 UTC.
Over 200k BNC in Liquidity Mining Rewards up for Grabs.
Bifrost and the Acala Foundation have allocated liquidity mining rewards including 200,000 BNC and 25,000 KAR. The two reward pools will be available to BNC/kUSD liquidity providers over the course of 3 months, with an additional 70% “loyalty” bonus available for Karura Swap users that keep their rewards in the pool until the program ends. Read on for more details.
Karura Swap
Karura Swap is an automated market maker (AMM)-styled decentralized exchange protocol implemented and deployed as upgradable runtime modules on Karura. With support for both native Substrate tokens and ERC-20 tokens, Karura Swap is positioned as the gateway and liquidity hub of Kusama, and has already accumulated nearly $86 million in total value locked.
Bifrost
Bifrost is committed to becoming an infrastructure that provides liquidity for staked assets. The team launched a derivative called ‘vToken’, which provides staking and Polkadot parachain slot liquidity. vToken can be used in a variety of ways across DeFi in the Polkadot ecosystem, like as a collateral for lending or for minting stablecoins.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of Substrate Builders Program and Web3 Bootcamp.
About Acala
Acala is an all-in-one decentralized finance network offering a blockchain platform secured by Polkadot, as well as a suite of cross-chain financial applications that let users trade, issue self-serviced loans, become liquidity providers, access staking derivatives, and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.
