Basilisk

Basilisk is a liquidity protocol deployed as a parachain on Kusama, producing blocks under the relay chain's Nominated Proof-of-Stake consensus. Its products include the constant-product XYK automated market maker pools of Snek Swap, the Snek LBP liquidity bootstrapping pool for young projects, Snek Farms liquidity mining incentives, and an NFT marketplace with English, top-up, and candle auction modes, its trading pallet integrated into the KodaDot frontend. Liquidity providers share trading fees pro-rata, protocol parameters are set by community referendum, and the modular design lets each class of new asset choose its own market maker model for cold-start liquidity.

It positions itself as the issuance and liquidity bootstrapping gateway for new assets on Kusama, forming a lifecycle hand-off with sibling protocol HydraDX's Omnipool. In September 2021 it won Kusama's eighth parachain slot by locking 222,222 KSM and took the 47th auction again in August 2022 to renew its lease. BSX is used for governance votes, council elections, and paying network transaction fees, with a secondary-market capitalization of roughly 660,000 dollars at the end of 2025.