1. What is Basilisk?
Basilisk is not just a canary network or fork of HydraDX. It's a complementary sister chain where new projects can use Basilisk's own implementation of Balancer Liquidity Bootstrapping Pool to bootstrap liquidity for their tokens.
2. Not a Mere Canary Network
Basilisk is not a mere canary network - it is an independent chain which has the mission to enable frictionless liquidity bootstrapping for new crypto assets.
Basilisk is a natural stepping stone on HydraDX journey of building the liquidity infrastructure of the future. This plan will eventually culminate in the HydraDX Omnipool which is intended to operate as a Polkadot parachain in order to enable frictionless liquidity for any asset on any chain.
3. What will Basilisk have?
The first version of Basilisk will offer an advanced implementation of an LBP module as well as other XYK pools with order matching transactions. In the following iteration, Basilisk will introduce other price discovery mechanisms (auctions and bonding curves), an AMM for swapping correlated assets (stablecoins or wrapped tokens), as well as cross-AMM order matching.
Also, there will be an NFT marketplace. The Basilisk team is currently working with a team called SubAuction! The goal is to deliver a better and cheaper UX for NFT users.
4. Basilisk Liquidity Bootstrapping Event
Basilisk’s native token - BSX will also have its own LBP event. For that purpose, their team will be working with another parachain project that will help bring a stablecoin ecosystem to Kusama.
5. HydraDX & Basilisk Team
Co-founded by The Zee Prime team, HydraDX & Basilisk team contains professional people with many years of experiments to enable frictionless liquidity for all crypto assets. They are:
Basilisk is a liquidity bootstrapping protocol designed to operate as a parachain in Kusama, the Substrate canary network from the Polkadot family. Together, Basilisk and HydraDX create a synergy which caters to the varying needs of crypto assets throughout their entire life cycle. Bootstrap liquidity in the early stages using Basilisk, then move over to the HydraDX Omnipool to unlock unprecedented liquidity in an ocean of assets.