Background
This proposal aims to enhance liquidity and support the trading of jitoSOL and LDOT tokens on Acala by implementing the following key actions. Improved liquidity and trading capabilities for jitoSOL and LDOT tokens on Acala. Enhanced DeFi opportunities for users, with additional incentives to engage in the liquidity pool. Broader adoption and integration of jitoSOL within the Acala network.
Proposal Content
1.Register jitoSOL Metadata
Register jitoSOL token metadata to ensure proper identification and representation within the Acala ecosystem.
2. Update DEX Predeploy Contract
Update the DEX pre-deploy contract to support the trading requirements of the jitoSOL-LDOT pair.
3. Deploy jitoSOL-LDOT LP Token Contract
Deploy the liquidity pool (LP) token contract for the jitoSOL-LDOT pair, which will facilitate users’ ability to provide liquidity and earn rewards.
4. Configure Euphrates LP jitoSOL-LDOT Pool
Configure the liquidity pool on the Euphrates network to support the jitoSOL-LDOT pair, creating new trading opportunities within the ecosystem.
5. JitoSOL-LDOT Bootstrap Launch
At block #7,304,110 (Estimated time: November 7, 2024, 02:30 AM UTC), the jitoSOL-LDOT bootstrap phase will be initiated, allowing initial liquidity contributions to set the price and prepare the pool.
6. Euphrates LP jitoSOL-LDOT Pool Reward Activation
At block #7,317,403 (Estimated time: November 9, 2024, 02:30 AM UTC), reward incentives for the Euphrates LP jitoSOL-LDOT pool will go live, providing monthly rewards of 700,000 ACA for liquidity providers.