Withdraw Kusama Treasury subsidy KSM/vKSM liquidity from Zenlink and MangataX DEX

Tyrone
1yr ago
1 Comments
Democracy

TL,DR

This proposal is the Step #1 in Bifrost new Treasury proposal: KSM liquidity subsidy for KSM liquid staking token - vKSM , withdraw 626.1974 vKSM and 705.4221 KSM liquidity from MangataX DEX and withdraw 21,759.4 vKSM and 25,995.7572 KSM liquidity from Zenlink DEX.

Summary

Liquidity withdrawal steps:

1. MangataX DEX

Withdraw liquidity from Bifrost Foundation address (dmTEFZ77m7WtJmd7PY6pMh111uTtW9jpwfwasTGsWKUGp5M) on Mangata, againest to the past proposal detials: https://bifrost.subsquare.io/post/25

  1. Withdraw vKSM-KSM LP from farming pool.
  2. Withdraw vKSM-KSM liquidity from the pool.
    • 626197400000000 vKSM (12 decimals)
    • 705422100000000 KSM (12 decimals)

(Amount above might change during the proposal in voting, withdrawn received amount will be the actual amount)

  1. XCM transfers liquidity back to Bifrost.
  2. Bifrost Foundation address transfer liquidity back to Bifrost Treasury (eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F)

2. Zenlink DEX

Withdraw liquidity from Bifrost Treasury (eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F) on Bifrost-ZenlinkDexPallet, againest to the past proposal detials: https://bifrost.subsquare.io/post/5

  1. Initiate vKSM-KSM liquidity withdraw from to Zenlink pool via the function: ZenlinkProtocol::withdraw_liquidity method.
    • Withdraw LP Amount: 23,641,868,080,654,619

  • Withdraw Details

Next Step

Step 2: Redeem withdrawed Bifrost Treasury vKSM to KSM via the referendum.

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