Acala Network

liquidity mining
Event Info

Bifrost Launches on Karura Swap With Over 200k BNC in Liquidity Mining Rewards

Trustless trading for the BNC/kUSD pair will go live following a 48-hour period of one- or two-sided bootstrap provisioning on Karura.

Karura Swap, the AMM-style decentralized exchange on Kusama, has joined forces 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.

To celebrate the launch, 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 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.

Better Liquidity with Bootstrap

Once launched, BNC or kUSD holders can provide one- or two-sided liquidity over the course of a 48-hour period, thanks to Karura Swap’s novel bootstrap mechanism.

Bootstrap is essentially a “warm-up” period for liquidity providers for any given pair on Karura Swap. With “Bootstrap,” Karura enables trustless trading at a fair market rate by temporarily disabling trading for a specific time period until the predetermined liquidity requirements are met. Once the bootstrap period is complete, the exchange rate is made public and trading is enabled on Karura Swap. More details on the Bootstrap period can be found here.

The BNC/kUSD pair will launch in Bootstrap mode on October 19 at 13:00 UTC and continue for an estimated 48 hours (with the period ending at block #795800). Then trading will become enabled providing that the pool has met its set criteria targets of 20,000 BNC or 200,000 kUSD in liquidity.

Earn Rewards with BNC & KAR Liquidity Mining

For liquidity providers who provision either BNC, kUSD, or both assets to the pool either during Bootstrap mode or once trading is enabled, Bifrost and Acala Foundation have created two reward pools.

To Qualify: Provide liquidity to the BNC/kUSD pair on Karura Swap. Rewards Period: 3 months Rewards: 200,000 BNC

To Qualify: Provide liquidity to the BNC/kUSD pair on Karura Swap. Rewards Period: 3 months Rewards: 25,000 KAR

Learn more about bringing BNC tokens from Bifrost to Karura with our parachain transfer guide, and find more details on minting kUSD stablecoin here.

Join the Karura Community Call

Join the Karura team along with featured guest Tyrone Pan of Bifrost Finance for a discussion on the new BNC/kUSD pair and learn more about the liquidity mining program. Karura community calls offer the opportunity to join the teams on stage and ask questions directly. For a calendar reminder, register here:

Karura Community Call featuring Bifrost

Eventbrite - Acala presents Karura Community Call featuring Bifrost - Wednesday, October 20, 2021 - Find event and…

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.

vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as staking and Crowdloan through vToken, realize the risk hedging of stake assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.

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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.

Acala was founded in Oct 2019, and today has received five Web3 Foundation grants, has backing from Coinbase Ventures, Pantera Capital, Polychain Capital, TQ Ventures, Arrington Capital, and other top firms, and has a distributed team in New Zealand, China, Europe, South America, and the United States.

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