Manta Network announced that it has reached a cooperation with Bifrost, the Polkadot ecological DeFi basic agreement. Bifrost will support the Kusama slot auction of Calamari, Manta Network's community-based pioneer network, through the SALP agreement, and help Calamari release the liquidity of its voters' parachain pledged assets.
Calamari Network, as the community-based pioneer network of Manta Network, is a plug-and-play privacy protection parachain on Kusama. Calamari's early products include MariPay, a privacy payment, and MariSwap, a decentralized AMM trading platform, designed to provide privacy services for the entire Kusama's DeFi network.
As the first zkSNARK-based privacy protection parallel chain on Kusama, the Calamari network will provide privacy protection services for DeFi networks built on Web 3.0 through a decentralized privacy layer.
Bifrost will use Calamari's privacy technology to accelerate the development of its own projects in the future, including providing derivative products with privacy protection functions.
Calamari will participate in the second Kusama parachain auction as one of the strongest contenders. In order to help Calamari bid, Bifrost has reached a cooperation with Calamari and will provide it with the SALP agreement.
Through the SALP protocol, users can mint vsKSM derivatives for mining, and get Bifrost's native token $BNC as a reward, enabling pledgers to get more rewards in addition to $KMA rewards in participating in Calamari crowdlending. Once Calamari wins the auction, vsKSM will be able to easily trade between KSM and other assets.
Calamari Parachain Auction Rewards
Manta Network Calamari Network Kusama crowdlending is now open, and Calamari will distribute up to 30% of $KMA tokens to KSM pledgers. In addition, through the official website of Calamarihttps://crowdloan.calamari.manta.network/The first 501-1000 contributors will receive an additional 5% reward
The first 1-500 contributors will receive an additional 10% reward
The first 501-1000 contributors will receive an additional 5% reward
If KSM holders who support Calamari invite other KSM holders to participate in crowdlending, both parties will each receive an additional reward of 2.5% KMA
What is SALP
SALP (Slot Auction Liquidity Protocol) aims to provide parachain KSM/DOT voters with derivatives vsKSM/vsDOT, vsKSM/vsDOT can be used for DeFi applications such as Swap and liquidity during the period when KSM/DOT is used for parachain lock-up Mining, you can trade KSM/DOT in AMM at any time. After the Parachain lease expires, derivatives can be safely redeemed for KSM/DOT at a 1:1 conversion ratio.
What is Calamari
Calamari Network, as the community-based pioneer network of Manta Network, is a plug-and-play privacy protection parachain on Kusama, aiming to provide privacy services for the entire Kusama DeFi network. Calamari Network is built on Kusama as a parallel chain to ensure cross-chain interoperability, and based on zkSNARK (zero-knowledge proof technology) to ensure privacy.
What is Bifrost
Bifrost (Rainbow Bridge) is the basic protocol of Polkadot's ecological DeFi. It is committed to becoming an infrastructure for pledged assets to provide liquidity, and launched a derivative vToken for Staking and Polkadot's parachain card slot (Crowdloan). At present, it has received millions of dollars in financing from NGC, SNZ, DFG, CMS and other institutions and the Grant of the Web3 Foundation. It is also a member of the Substrate Builders Program and Web3 Bootcamp.
vToken can optimize Trading in multiple scenarios such as DeFi, DApp, DEX, CEX, etc., and realize the transfer channel of pledged rights and interests such as Staking and Crowdloan through vToken, realize the risk hedging of pledged assets, and expand scenarios such as when vToken is used as collateral for lending, its Staking income Part of the interest can be offset to achieve low-interest loans.
**About Manta**
Manta's founding team consists of several cryptocurrency veterans, professors, and academics whose experience includes Harvard, MIT, and Algorand. Manta’s advisors include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, Consensys’ Shuyao Kong.
Manta's founding team consists of several cryptocurrency veterans, professors, and academics whose experience includes Harvard, MIT, and Algorand. Manta’s advisors include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, Consensys’ Shuyao Kong.
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Calamari Website:http://calamari.network/
Manta Website:https://manta.network/
Twitter:https://twitter.com/MantaNetwork
Telegram:https://t.me/mantanetwork
Discord：https://discord.gg/ZtSuSKRy8X
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