KR1 takes part in Basilisk community-based project auction

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KR1 said it has taken part in the Basilisk crowd loan and Kusama (KSM) para chain auction.


Keld van Schreven, Managing Director and Co-Founder of KR1, said: “Basilisk is an exciting community-focused project run by an exceptional team of crypto thinkers.


“As a permanent deployment on Kusama, Basilisk has strong synergies with Polkadot-facing HydraDX, which, together, will cater to the varying liquidity needs of crypto assets throughout their life cycles.


“Projects can bootstrap liquidity in the early stages using a Basilisk pool, then later move to the HydraDX omnipool to unlock unprecedented cross-chain liquidity in an ‘ocean of assets’.”


Aquis-listed KR1 contributed a total of 11,111.1 KSM to the Basilisk crowd loan campaign, said its statement.


Basilisk is a liquidity bootstrapping protocol built for Kusama, enabling frictionless liquidity for the long tail of crypto assets through a modular design, KR1 added.

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