We are pleased that Bifrost will be supporting Quartz in the third batch of the Kusama slot auctions through the SALP protocol and releasing its contributors’ bonding liquidity.
Bifrost x Quartz
The Unique Network aims to provide the feature rich and flexible configuration experience to its users. This includes multiple authorization levels, economic models that enable freemium application marketing, miscellaneous administration options, advanced spam protection. The goal is to cover the broad spectrum of NFT applications’ development needs and provide maximum flexibility at low to affordable cost.
The canary network Quartz is designed to enable the most powerful and advanced NFT functionality on the Kusama Network. By securing a parachain slot on Kusama we will be able to deliver on that mission.
Bifrost will partner with Unique Network to fast-track the democracy for Quartz SALP creating, to support its liquid crowdloan may catching up the 3rd batch auctions.
By using the SALP protocol, contributor will be able to generate derivatives vKSM & vsBond (Quartz), hedge against the 48-week KSM bonding period.
In addition, vsKSM & vsBond (Quartz) holders can join Quartz’s derivative mining, and receive Bifrost’s native token $BNC and Quartz’s native token $QTZ as reward. This is on top of the $QTZ rewards that users receive as part of the Quartz crowdloan rewards. Once Quartz wins the auction, the vsKSM will be tradable for swap between KSM and other assets effortlessly.
Quartz Crowdloan Rewards
The base reward is 237 QTZ for every KSM bonded. However, early participants get more — the first KSM contributed will get 750 QTZ. For subsequent KSM bonded, refer to the chart or use the calculator to check how many QTZ will you receive for the KSM you want to bond. Only KSM that were bonded before the successful auction win will be eligible for rewards.
The reward curve gives you a view of the rewards through the auction duration.
Use the calculator to view an estimated number of QTZ tokens you will receive for KSM you plan to bond.
Up to 8% of the total QTZ supply is reserved for the crowdloan participants with a 10 month vesting (linear vesting every block) period. This is 80,000,000 out of the total 1,000,000,000 QTZ.
About Unique.Network & Quartz
Unique Network is the first NFT chain built for Polkadot and Kusama network. It aims to provide a feature-rich and flexible configuration experience to its users. This includes multiple authorization levels, economic models that enable freemium application marketing, miscellaneous administration options, advanced spam protection. The goal is to cover the broad spectrum of NFT applications development needs and provide maximum flexibility at low to affordable costs.
Quartz is the canary network of Unique Network — A new user-friendly platform for you to test extreme innovation in NFTs and build for the next generation. Built on Substrate, Quartz gives you the most versatile options for discovery and democratization of the NFT ecosystem and marketplaces (with very low barriers for entry).
Bifrost will support Quartz (Unique.Network) Kusama Crowdloan through SALP Protocol was originally published in Bifrost — DeFi for PoS. Staking and Liquidity. on Medium, where people are continuing the conversation by highlighting and responding to this story.