Proposal to list UNQ (Unique Network) native token on Acala Swap as the initial step to Advanced Economic Models implementation.
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.
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.
No trading is allowed during Bootstrap, and trading can only be enabled once the following criteria are met:
If this referendum passes, and Bootstrap kicks off:
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).