OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

Ana Marie — Sat, 25 Feb 2023 21:09:10 +0000

OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

OAK Network incredibly excited to show off the cross-chain message passing capabilities of the Turing Network in partnership with Mangata. To offer auto-compounding of liquidity pool rewards on the MangataX decentralized exchange!

The OAK Network & Mangata are proud to be pioneering parachain cross-chain functionality for the Kusama & Polkadot ecosystems.

Introduction

After the $TUR successful bootstrap on the MangataX DEX. The Turing Network now offering technical functionality to auto-compound liquidity rewards for MGX liquidity pairs including $TUR:$MGX. The auto-compounding partnership between Turing and MangataX was established through the creation of key infrastructure. To allow XCMP calls across parachains to schedule future transactions. Firstly it will be use to auto-compound MGX liquidity pools but the infrastructure can still be used for even more advanced & complex actions.

The auto-compounding function utilizes the XCM compoundRewards call to schedule a future event on the Turing Network parachain which triggers an action on the MangataX parachain. By using the XCM protocol all user funds are secure and the action is completely non-custodial. The OAK team believes this impressive demonstration of the the key advantages for parachains on Polkadot & Kusama & the potential for XCM.

Using Auto-Compounding

The auto-compounding functionality allows developers to use Polkadot.js to set up automatic claiming of liquidity pool rewards on MangataX. Then automatically add the claimed rewards into a liquidity pool. Individuals may set their own percentage threshold and use the schedule parameter to choose to execute tasks at fixed times or recurring. Combining these actions creates a variety of use cases that we are excited to see how our communities utilize.

The Future

OAK Network is happy to be collaborating closely with Mangata to offer innovative new functionality to the ecosystem. MangataX continues to create more liquidity pairs, such as their recent listing of ZLK, and our team is excited to create auto-compounding for more parachain tokens.

Outside of MangataX the Turing Network & OAK Network is working to create automation and auto-compounding for other platforms and exchanges across Kusama & Polkadot.

About OAK Network

OAKNetwork layer one blockchain that enables multi-chain applications to automate single or recurring transactions using a simple transaction instruction. The OAK unlocks a diverse range of rich DeFi user experiences including scheduled and recurring payments, stable-cost-averaging, stop loss & limit orders, and non-custodial copy trading.

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TUR:MGX Liquidity Pool And Bootstrap

Ana Marie — Wed, 24 Aug 2022 18:15:59 +0000

TUR:MGX Liquidity pool and bootstrap launching August 29th

TUR:MGX Liquidity Pool And Bootstrap. The OAK Strategic Partnerships Fund and Mangata Ecosystem Development Fund are please to announce the TUR:MGX trading pair launch with 1,000,000 $TUR and 10,000,000 $MGX added to the bootstrap on August 29th.

All Kusama users are welcome to help establish and maintain deep liquidity for the $TUR liquidity pool launching on Mangata X. The revolutionary proof-of-liquidity DEX that features gas-less swaps and eliminates front-running.

Join the bootstrap on August 29th at liquidity.mangata.finance by contributing $TUR or $MGX into the liquidity pool. Any Kusama user can deposit $KSM and swap for $MGX now to get ready to buy $TUR or provide liquidity for Turing Network’s native currency. All liquidity providers on Mangata X share 25 million $MGX in monthly liquidity rewards, so LP yield forecast is … sunny*.

TUR:MGX swapping will be disabled for the first 48 hours to protect early traders from high slippage.

Turing Bootstrap Bonus

50,000 $TUR will be distribute in rewards from OAK’s Strategic Partnerships Fund to Kusama users who participate in bootstrapping the pool (first 48 hours) and continue to provide liquidity for at least 7 days. Snapshots of Mangata X blocks will be taken to:

Determine each account’s contribution to bootstrapping TUR:MGX as a percent of liquidity in the Mangata X block when trading begins.
Verify continued liquidity for 7 days after trading begins.

*$TUR and $MGX contributions from treasuries are not eligible for Turing Bootstrap Bonus. Users who withdraw TUR:MGX liquidity before 23:00:00 UTC on September 7 are also not eligible for the Turing Bootstrap Bonus… this is definitely not financial advice.

About Mangata

Mangata a next-generation DEX with the mission to make tokens from all ecosystems tradable on a single DEX. It features gasless swaps, prevents front-running and MEV on the consensus level without additional fees, and secures the network with the revolutionary proof-of-liquidity consensus.

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About OAK Network

OAK Network a layer one blockchain that enables multi-chain applications to automate single or recurring transactions using a simple transaction instruction. As the web3 hub for cross-chain automation, OAK unlocks a diverse range of rich DeFi user experiences including scheduled and recurring payments, stable-cost-averaging, stop loss and limit orders, and non-custodial copy trading.

Website | Twitter |

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OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding