#11 Referendum proposal: Enable BNC Transfer

Summary

In the #6 Referendum proposal, Bifrost and Karura parachain opened up the HRMP channel. Recently, since the XCM upgraded to V1, we both performed synchronously from V0 to V1, but due to the frequent upgrades recently, we closed the cross-chain transact temporarily, so please do not try to transact yet, otherwise, your assets will be lost.

Open the BNC/kUSD Bootstrap on Karura

The Bifrost team attempts to list BNC, first and foremost, in a decentralized manner. Hence, listing on the decentralized exchange - Karura Swap on the Karura network - Kusama’s DeFi center fits well with the Bifrost DeFi protocol. BNC Listing on Karura will also be a first-of-its-kind cross-chain listing and application in the Kusama ecosystem.

There will be a liquidity bootstrap event before the function of BNC transfer opens up through democracy to make the prior accumulation of liquidity for the BNC/kUSD initially opened. Here are some rules on it:

a. It will start block #TBD till #TBD (roughly 48 hours)

b. NO trading is allowed during this period

c. You can contribute liquidity for BNC, or kUSD, or BNC & kUSD at the same time. The actual exchange rate of BNC/kUSD can only be known once the Bootstrap is completed.

d. At the time of your contribution, you are allocated some LP tokens and indicative LP shares of the pool, which are subject to change as more liquidity is added.

e. You should only participate if you want to become a liquidity provider for the pool. Please be aware of various risks associated with being a liquidity provider.

Read more details at List BNC/kUSD pair via Bootstrap on Karura Swap.

v0.9.4

The v0.9.4 version upgrade mainly includes the launch of

  • BNC Transfer

Proposal

  • :raising_hand_man: Voting Period: #605,575
  • :rocket: Activate Period: #611,552
  • Execution:
    • Upgrade v0.9.4
parachainSystem.authorizeUpgrade('0xcb84bdecd0c5646408ec8f0ab647c91440978ebaa7dd7330e411cd871fcd49e0')
  • Proposal preimage:
0x37e0f2209e3267e87cd0ecce85da98d13bd1b5810e08d5f958cd2e6d0ad79d15
  • Proposal hash:
0x37e0f2209e3267e87cd0ecce85da98d13bd1b5810e08d5f958cd2e6d0ad79d15
9 Likes

AYYYYYEEEEEE !!! :heart_eyes: :partying_face: :star_struck:

1 Like

Yeah , I will definitely support this referendum, let’s vote

Vote for it:Polkadot/Substrate Portal

1 Like

C’est parti

Voted! :sunglasses:

Its what I was waiting for. Thanks

终于要来了