Basilisk Finance has won the 47th Kusama parachain slot action for lease period 23-30 which will be ending by 20th July 2023.
Basilisk did not launch a crowd loan in securing this parachain slot, the team used its own funds to place direct bids for the auction. This comes at zero expense to existing BSX holders as they are not diluted by another crowd loan campaign.
What does this mean for Basilisk
Securing the second parachain slot means that Basilisk can move ahead with the following projects they have lined up in the pipeline.
– Adding liquidity mining functionality to the platform that will add very good incentives for users to stay on as long-term liquidity providers to the already existing Basilisk swap pools. With the belief that this endeavor will result in deeper liquidity on the Basilisk chain and at the same time bring Snek further in its aim of becoming the liquidity platform of choice in Kusama.
– Catering to the liquidity needs of NFT projects; where the Basilisk NFT market place will soon be released with unique features that includes royalty fees, ability to make offers for unlisted NFTs and a lot more, it will also feature a fully functional auctioning deck as well.
– implementation of the platforms redeemable NFTs functionality which will allow snek fans.
About Basilisk Finance
Basilisk is a liquidity protocol built for the Kusama ecosystem. Its mission is to enable frictionless liquidity that caters to the evolving needs of crypto assets – both fungible, and non-fungible (NFTs).
The modular design of Basilisk enables fungible assets to bootstrap liquidity by choosing the Automated Market Maker (AMM) model which they find the most convenient.
The first version came out with an implementation of Snek Swap (XYK) pools which allow users to buy and sell tokens, or to become a liquidity provider and earn rewards generated from trades.
For non-fungible tokens, this will be done with Basilisk NFT Marketplace which has a lot of promising features in production. Besides minting and listing NFTs, the Marketplace also brings the ability to set a royalty fee (a percentage of every trade goes to the owner of the fee) and to place an offer for non-listed NFTs.