RMRK Launches on Karura Swap With Liquidity Mining Rewards
The Karura and RMRK teams are pleased to announce an exciting collaboration in anticipation of RMRK’s full token migration to Karura, which brings its native token from statemine onto Karura’s DeFi network to further support the NFT protocol’s growth and engage these two passionate Kusama communities. The Karura governance referendum to support RMRK tokens as collateral, as well as initiate two trading pairs on Karura Swap, has passed with overwhelming support from the community.
RMRK is now bridgeable to Karura with two new RMRK trading pairs, RMRK/kUSD and RMRK/KSM, slated to go live on Karura Swap for trustless trading following a 48-hour period of one- or two-sided bootstrap provisioning.
At launch, the RMRK Association and Acala Foundation have committed 3,000 RMRK and 10,000 KAR in liquidity mining rewards to qualifying LPs The RMRK reward pool will be available for 30 days to Kanaria NFT holders who provide liquidity to the RMRK/kUSD or RMRK/KSM pools. In addition, KAR rewards will be available for the first week for RMRK/kUSD liquidity providers.
ABOUT RMRK
RMRK is a team spearheading the development of the RMRK protocol for creating highly composable “NFT legos” using NFTs on Kusama. With technical applications that far exceed the current ERC721 / ERC1155 standards, RMRK brings unique features to the NFT table, including: emoting to NFTs on chain, custom burn messages, the ability for NFTs to own NFTs, conditional rendering (if this, show that), slots for upgrades, multi-resources (containing both code for games and high-res cover art), and the ability for NFTs to be governed as DAOs.
ABOUT Karura
Karura is the all-in-one DeFi hub of Kusama. Founded by the Acala Foundation, Karura is a scalable, EVM-compatible network optimized for DeFi. The platform offers a suite of financial applications including: a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX — all with micro gas fees that can be paid in any token. Karura is a blockchain platform custom-built for DeFi and powered by KAR, which enables settlement for transactions and smart contract execution, incentivizes node operators, and empowers its holders to participate in governance.
RESOURCES
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