Bifrost to Support Calamari Kusama Crowdloan Through SALP Protocol
We are pleased that Bifrost will be supporting Calamari in the second batch of the Kusama slot auctions through the SALP protocol and releasing its contributors’ bonding liquidity.
Bifrost x Calamari
As the canary network of Manta, Calamari will be first rolling out Maripay and Mariswap as on-chain privacy products, as it paves the way for privacy as a utility service within the entire Kusama ecosystem. Using zkSNARKs with a focus on DeFi, Calamari Network will open the opportunities for financial tools built on Web 3.0 by offering a layer of decentralized privacy. Bifrost intends to leverage Calamari’s privacy technology to accelerate the development of its own projects including privacy-preserving derivatives.
Calamari will participate in the second batch of Kusama slot auctions as one of the strongest competitors. In an effort to assist in the Calamari crowdloan, Bifrost will partner with Calamari to offer its SALP protocol. Using the SALP protocol, users will be able to join derivatives mining with vsKSM, and receive Bifrost’s native token $BNC as a reward. This is on top of the $KMA rewards that users receive as part of the Calamari crowdloan rewards. Once Calamari wins the auction, the vsKSM will be tradable for swap between KSM and other assets effortlessly.
Calamari Crowdloan Rewards
In the 2nd batch of bidding, Calamari is offering the following rewards for those who vote Calamari:
Stake 1 KSM to earn 10,000 KMA
Calamari Token $KMA is distributed with a community-first focus. Up to 30% of the project’s entire supply (3,000,000,000 KMA) is distributed to Crowdloan participants as part of the rewards for helping Calamari Network secure a parachain.
10% Bonus for Frontline Supporters
The first 500 supporters receive a 10% bonus reward of $KMA.
5% Bonus for Early Supporters
Supporters 501 to 1,000 receive a 5% bonus reward of $KMA.
5% Bonus for Referral Fees
Referrers and referred supporters both receive 2.5% bonuses in $KMA.
More information on Calamari Crowdloan rewards can be found at this link: https://mantanetwork.medium.com/the-calamari-crowdloan-on-kusama-74a3cb2a2a4b
Calamari Crowdloan: https://crowdloan.calamari.manta.network/
What is SALP?
SALP (Slot Auction Liquidity Protocol) aims to issue derivatives vsKSM for KSM contributors, vsKSM can be used for DeFi applications such as swap and liquidity mining during the KSM bonding period, exchange KSM in AMM at any time. After the parachain lease expires, derivatives can be fully redeemed for KSM in 1:1 peg. Learn more about SALP.
About Manta Network
Manta Network is the on-chain privacy solution for blockchain assets build from the first principle. In short term, Manta will be a product that enables high-performance private DeFi transactions, such as FT/NFT transfer and AMM styled swap. In the long term, Manta will be the platform for privacy-preserving blockchain applications.
Manta’s founding team comprises many US cryptocurrency veterans, professors, and scholars whose experience includes Harvard, MIT, and Algorand. The advisors of Manta include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, and Consensys’ Shuyao Kong. Manta has previously completed a million-dollar seed round of financing led by Polychain and participated by Three Arrows Capital, Multicoin, Alameda, and Hypersphere. Manta is also a grant fund recipient of Polkadot’s official Web3 Foundation. Manta also is an outstanding member of the Substrate Builder Program and the Blockchain Accelerator of the University of Berkeley.
What is Calamari
Calamari, Manta Network’s canary-net, is the plug-and-play privacy-preservation parachain built to service the Kusama DeFi world. It combines Kusama and zkSNARKs to bring on-chain privacy to transactions and swaps.
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged 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 the 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 pledge rights such as staking and Crowdloan through vToken, realize the risk hedging of pledge 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.