The first Polkadot-native liquidity bootstrapping pool event has arrived


The InvArch Network is partnering with HydraDX to host the very first liquidity bootstrapping pool (LBP) event in the Polkadot and Kusama ecosystem.

LBP events are the ideal solution for projects (like the InvArch Tinkernet) that want to get tokens into the hands of their broad user base and community without the limitations of a rapidly increasing price curve that works against them.

In the Polkadot and Kusama ecosystems, the HydraDX team has made LBP one of the core functions of its Basilisk parachain. Thanks to its tech, any project that wants to determine the value of its token can go through this process to establish a fair and reasonable price.

The InvArch Network team is excited to announce that the very first project to hold an LBP in the Dotsama ecosystem will be the Tinkernet parachain, and Basilisk will be the very first project to provide the infrastructure and host an LBP campaign.

Liquidity bootstrapping pool details

After the smashing success of the Tinkernet crowd loan, the growing excitement around YoudleDAO, the DAOist cloud development kit, the GitArch decentralized application (DApp) and the imminent utility of the Tinkernet, it is clear that the time to make the TNKR token a freely available asset is now.

  • LBP token pair: KSM/TNKR 
  • LBP launch date: Oct. 12, 2022, at 4:00 pm UTC.
  • LBP ending date: Oct. 15, 2022, at 4:00 pm UTC.

Further details, including an LBP participation guide, will be made available this Monday and posted to the project’s Twitter profiles, which can be found at the end of this announcement.

Both teams are ready to launch this historic event and are looking forward to a wide and fair token distribution that ensures the availability of TNKR for all Web3 pioneers.

InvArch and Tinkernet

InvArch is a leading-edge layer-1 blockchain built to support and empower the future creator economy by providing a new foundation through its powerful nonfungible token (NFT) primitives and decentralized autonomous organization (DAO) solutions.

The InvArch Network features the most advanced NFT primitives and DAO solutions produced in the Polkadot ecosystem and is a major project pushing the limits of Web3 further than they’ve ever been possible in other ecosystems.

InvArch is designed not just to allow new products of development to take flight but also to change how individuals and teams can develop together. InvArch is built on the Substrate blockchain framework and designed to launch on the Polkadot ecosystem as a parachain.

The Tinkernet parachain is the canary network of the InvArch Network, designed as an IP asset and accelerated development staging grounds for the Kusama ecosystem. Tinkernet serves a trio of testing purposes: for the developers who maintain the network, for the developers who build on top of the network, and for the end-users of DApps and applications in the ecosystem.

HydraDX and Basilisk

HydraDX is a cross-chain liquidity protocol built on Substrate. Its mission is to enable frictionless liquidity for all crypto assets by building the first-of-its-kind multi-asset liquidity pool — the HydraDX Omnipool. With Omnipool, HydraDX breaks the traditional conception according to which assets are traded in pairs using isolated pools.

Basilisk is not a mere canary network of HydraDX — it is an independent chain that has the mission to enable frictionless liquidity bootstrapping for new crypto assets.

Basilisk is a natural stepping stone on the journey toward building the liquidity infrastructure of the future.

Together, Basilisk and HydraDX create a synergy that caters to the varying needs of crypto assets throughout their entire life cycle. Bootstrap liquidity in the early stages using Basilisk, then move over to the HydraDX Omnipool to unlock unprecedented liquidity in an ocean of assets.

More details

Stay up-to-date with the teams by following HydraDX on Twitter: 

This publication is sponsored. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *