Phase 2 | Bootstrapping Pool
Phase 2 started immediately after Phase 1. For the first five days of this phase, participants could commit ASTRO and/or UST to the ASTRO-UST bootstrapping pool. Participants received ASTRO tokens in exchange for locking liquidity.
ASTRO wasn;t live and tradeable during Phase 2. Thus, any ASTRO that was deposited had to come from two sources:
  1. 1.
    Claiming the ASTRO airdrop from Phase 0 | Airdrop​
  2. 2.
    ASTRO received from participating in ​Phase 1 | Lockdrop​​
Interface of Phase 2

The Discovery

The value of ASTRO was determined by how much and at which ratio all participants added UST and/or ASTRO to the pool. Participants could commit ASTRO or UST to the bootstrapping pool in any configuration. For example: ASTRO & UST, only UST or only ASTRO.
Note that single-sided deposits directly affected the pool’s ratio (and the implied β€œvalue” of ASTRO).
Any deposit was converted into ASTRO-UST LP tokens. If someone deposited just one asset, it got converted to a 50/50 share of the pool when the Phase 2 ended. This means that when someone redeemed their LP tokens, they got back a combination of ASTRO and UST.
How to deposit into the ASTRO-UST pool
A total of 10 million ASTRO tokens were distributed to LPs who commited ASTRO and/or UST to the pool. There was no advantage to being the first person to deposit into the pool. Someone's ASTRO allocation was determined by the total percentage of the pool they owned when the snapshot was taken at the end of Phase 2.
After the launch of Astroport, ASTRO-UST deposits started to unlock linearly over three months. Prticipants could withdraw liquidity as it unlocked or leave it in the pool to continue accruing trading fees and ongoing ASTRO incentives.
What to expect as an ASTRO-UST LP
Schedule Phase 2
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