TL;DR

Proposal to list UNQ (Unique Network) native token on Acala Swap as the initial step to Advanced Economic Models implementation.

Motivation

As an old player of Polkadot ecosystem, we would like to integrate with multiple solutions in it. Listing UNQ on Acala swap is the first step towards integrating the projects we are going to host into the ecosystem.

Description

Unique Network applications can create their own cryptocurrencies as Substrate tokens or as an ERC-20 compatible fungible token. The first ambitious goal for Unique Network is to enable paying UNQ network fees in application currency to help their users avoid the necessity to deal with both UNQ and application tokens, and finally to enable application developers to sponsor user transactions to completely shield the end users from dealing with cryptocurrencies and creating the perfect frictionless user experience.
Nonetheless, for the safety of Unique tokenomics, we need to be able to exchange application tokens back for Unique. In order to complete the circle For the seamless exchange between application tokens and UNQ, we need to list UNQ on the Acala swap as the first step.

Proposal 1

• Enable Bootstrap for UNQ/DOT pool at block #3432175
• 168 hours of bootstrapping period ends at block #3482575
• Bootstrap Start Time: April 24, 2023 11:00 AM (UTC)
• Minimum liquidity target is 1,400,000 UNQ OR 2,000 DOT
• Minimum contribution requirement is 700 UNQ OR 1 DOT

No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:

• Not Before the ending block has passed AND
• Either the pool has 1,400,000 UNQ OR 2,000 DOT in liquidity
• Both UNQ & DOT has >0 liquidity

If this referendum passes, and Bootstrap kicks off:

• You can contribute liquidity for UNQ, or DOT, or UNQ & DOT at the same time. The actual exchange rate of UNQ/DOT can only be known once the Bootstrap is completed.
• At the time of your contribution, you are allocated a number of LP tokens, and indicative LP shares of the pool, which are subject to change as more liquidity is added.
• 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.

Incentives

Incentives Parameter(#3482575)
Incentives for LP: 1m UNQ + 1k DOT
Incentives for Bootstrap: 300k UNQ (The Bootstrap rewards will airdrop to the participants directly after the Bootstrap end).
Incentives Period: 3 months
Loyalty Bonus Percentage: 50% (Claim rewards before loyalty program ends will void loyalty bonus, which is 50% of the rewards).
Loyalty Program Period: 3 months (Claim rewards after loyalty program ends (Block number #4144975) will be eligible for the loyalty bonus).