Unique Network’s native ecosystem token UNQ is available on Acala Swap.

Bootstrap date: April 24

Pair: UNQ/DOT in Bootstrap mode

Bootstrap rewards: 300,000 UNQ

Mining Rewards: 1,000,000 UNQ + 1,000 DOT

Maximize an excellent opportunity to join the bootstrap mode, be an early liquidity provider and earn rewards in UNQ and DOT.

More information on how to earn UNQ and DOT rewards as a liquidity provider (LP) on Acala Swap follows.

Why UNQ is Launching on Acala Swap

Among the primary objectives of UNQ is allowing users to pay network fees on the Unique Network. This approach generates a fluid user experience and enables application developers to sponsor user transactions.

Listing UNQ on the Acala Swap is the first step to complete the circle of seamless exchange between application tokens and UNQ.

The Importance of Liquidity Bootstrap

Utilizing a bootstrap period is beneficial, although listing on the trading platform can begin either without one.

During the Bootstrap period, we temporarily freeze trading and encourage meeting specific liquidity requirements to ensure reasonable slippage, consolidate a proper exchange ratio, and prevent adversarial operations like front-running.

Liquidity providers (LPs) can provide liquidity for one side (e.g., UNQ) or both sides (UNQ and DOT) of the trading pair. When they meet the time and liquidity requirements, the bootstrap period ends and establishes an opening exchange ratio.

We allocate LP tokens to each liquidity provider.

LP Shares (= LP Tokens / Total LP Tokens) is a pro rata representation of LP's contribution to the overall liquidity of a pool. Liquidity providers can redeem these LP shares for underlying assets (UNQ and DOT).

Bootstrap Conditions

Enable Bootstrap for UNQ/DOT pool at block #3432175
Bootstrap period duration 168 hours
Bootstrap period ends at block #3482575
Bootstrap start time April 24 | 11:00 AM (UTC)
Minimum liquidity target 1,400,000 UNQ or 2,000 DOT
Minimum contribution requirement 700 UNQ OR 1 DOT

Important notes.

During the Bootstrap period, trading is not allowed unless these criteria are met:

  • The pool must have at least 1,400,000 UNQ or 2,000 DOT in liquidity.

  • Both UNQ and DOT must have liquidity greater than zero.

  • Trading will not be permitted until after the ending block has passed.

Earning Rewards with UNQ and DOT Liquidity Mining

Incentives Parameters
Bootstrap incentives 300,000 UNQ Once the Bootstrap period ends, the rewards will be airdropped directly to the participants.
LP incentives 1,000,000 UNQ + 1,000 DOT
Loyalty bonus percentage 50% If you claim your rewards before the loyalty program ends, you will forfeit the loyalty bonus, which amounts to 50% of the rewards.
Incentives period Three months
Loyalty Program period Three months You can claim your rewards and receive the loyalty bonus after the loyalty program ends, which will be at Block number #4144975.

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About Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD (aUSD), is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.

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