Manta Network's early network Calamari parachain auction strategy is released

What is Calamari Network?

Calamari Network, as the community-driven pioneer network of Manta Network, is a plug-and-play privacy-preserving parachain on Kusama, aimed at providing privacy services for the entire DeFi network on Kusama. Calamari Network is built on Kusama as a parachain to ensure cross-chain interoperability, utilizing zkSNARK (zero-knowledge proof technology) to guarantee privacy.

Calamari's early products include:

1. Privacy Payment MariPay ------ MariPay supports private transactions of Kusama and its parachain assets, including major cryptocurrencies supported on Kusama. Users can privatize mainstream assets like wrapped stablecoins and BTC, with Calamari providing the most secure on-chain privacy through zero-knowledge proof technology.
2. Privacy Decentralized AMM Trading Platform MariSwap ------ MariSwap offers users the ability to trade between parachain assets with privacy addresses, and it also provides unprecedented new features in the industry, including privacy liquidity pools.

Calamari is the only platform that can meet users' on-chain privacy needs and censorship resistance while ensuring the decentralization and interoperability of privacy tokens.

Calamari is a delicious squid dish. Squids naturally possess camouflage abilities, protecting themselves from predators through changes in skin color and ink spraying. Calamari is a system designed to protect users from unauthorized data collectors and extortionists invading on-chain data without consent.

In comparison to Manta, which resembles a long-tail devil ray, squids have more tentacles, representing the spirit of experimentation of the Kusama pioneer network. Calamari embodies a spirit of innovation through more attempts and will deploy optimal product solutions to Manta.
Thus, for us, Calamari represents privacy protection, interoperability, and an innovative spirit.

About Calamari Token $KMA

Calamari's token ($KMA) is the first community-led deflationary privacy functional token. Based on the actual usage of its protocol's privacy protection network and growth in DeFi, users can engage in incentive dividends, redemptions, and token burns. The initial total supply of KMA is 10 billion.

KMA will not be issued until the reserve tokens for slot auctions are exhausted. $KMA also serves as a functional token that allows for dividends and buybacks from fees generated by the use of MariPay and MariSwap products. Additionally, KMA has governance functions and extended value.

$KMA Token Distribution

The distribution of KMA will be community-oriented. The majority of KMA tokens will be held by community members, with a fair distribution approach prioritizing early participants; team members or private investors will not hold any.

When will Calamari participate in the auction?

Calamari will participate in the Kusama parachain slot auction starting from the 6th slot, auctioning for 8 cycles, which means a lease period of 6 weeks * 8 = 48 weeks;
Currently, the 5th slot on Kusama will end on July 23, and after the review period, the second phase (6th-10th slots) auction will begin, with specific timing yet to be determined.

How to participate in Calamari's crowdloan?

The Calamari team will provide multiple channels for crowdloan participation, including a self-developed on-chain dApp and partnerships with several top centralized exchanges and wallets.

Calamari Parachain Auction Strategy

Token Rewards

A maximum of 3,000,000,000 (3 billion) KMA will be distributed to KSM contributors, accounting for 30% of the initial total supply of KMA. Therefore, once over 300,000 KSM is borrowed for the Calamari slot auction, there will be no additional KMA as rewards for KSM lenders. This means that the maximum hard cap for Calamari's crowdloan is 300,000 KSM.

Calamari will use a tiered hard cap approach, with three hard caps in the slot auction:

The first hard cap will allocate up to 1 billion KMA to KSM contributors, meaning the first hard cap is to raise 100,000 KSM. If Calamari secures a parachain slot during the fundraising for each hard cap, it will not proceed to the next hard cap, and the remaining KMA will be stored in the treasury for future slot auctions.

If a higher bidder secures the slot after reaching the first hard cap, the second hard cap will be activated, allocating 2 billion KMA to KSM contributors, meaning the second hard cap is to raise 200,000 KSM.

If a higher bidder secures the slot after reaching the second hard cap, the third hard cap will be activated, allocating a maximum of 3,000,000,000 (3 billion) KMA to KSM contributors, raising up to 300,000 KSM.

KSM Contribution Rewards

Each 1 KSM token borrowed for the Calamari slot auction will earn a fixed reward of 10,000 KMA tokens. The benefit of this fixed ratio is that the rewards for obtaining KMA will not change with the total amount of KSM supporting Calamari.

Additionally, the first 1000 contributors will receive extra KMA rewards:

• The top 1-500 contributors will receive an additional 10% reward.
• The top 501-1000 contributors will receive an additional 5% reward.

Referral Rewards

We will set up additional referral incentives. If KSM holders supporting Calamari invite other KSM holders to participate in the crowdloan, both parties will receive an additional 2.5% KMA reward.

Other Details

Auction Cycle

In order for Calamari to operate on Kusama, it needs sufficient KSM to secure parachain slots. Calamari will participate in the auction for 8 cycles (6 * 8 = 48 weeks).

Lock-up Period

Participants will lock a certain proportion of KSM to participate in Calamari's crowdloan. KSM tokens will be locked from the start of the auction until the end of the 8 cycles (48 weeks) after winning the slot auction.

Reward Unlocking

When Calamari wins the parachain slot and begins official operations, 34% of KMA will be directly released to crowdloan participants, while 66% of the tokens will be released every 8 weeks, divided into 6 releases, with each release being 11%.

You can subscribe to the Calamari official website https://www.calamari.network/ for more first-hand information about the crowdloan.

About Manta Network

Manta Network is the first on-chain privacy protection project on Polkadot, providing the highest level of on-chain privacy protection for DeFi users through cryptographic technology zkSNARK, aiming to become the privacy protection infrastructure for the entire decentralized finance ecosystem. Manta's early products include the privacy payment protocol ------ MantaPay, and the first privacy DEX protocol in the Polkadot ecosystem ------ MantaSwap. Manta is based on the Substrate framework, providing plug-and-play privacy protection services for the entire Polkadot ecosystem.

The founding team of Manta consists of several senior cryptocurrency professionals, professors, and scholars, with experience from Harvard University, MIT, and Algorand. Manta's advisors include Jack Platts, co-founder of Hypersphere Ventures, Tekin Salimi, partner at Polychain, Ashley Tyson, former co-founder of the Web3 Foundation, and Shuyao Kong from Consensys.

Manta has previously completed a million-dollar seed round financing led by Polychain, with participation from Three Arrows Capital, Multicoin, Alameda, and Hypersphere. Manta is also a recipient of funding from the official Web3 Foundation of Polkadot, a member of the Substrate Builder Program, and a member of the Berkeley Blockchain Accelerator.

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Website:https://manta.network/

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