What is Karura (KAR) | What is Karura token | What is KAR token

What is Karura (KAR) | What is Karura token | What is KAR token

Karura (KAR) is the decentralized financial hub of Kusama, a scalable multi-chain network for radical innovation and early-Polkadot deployments. In this article, we'll discuss What is Karura (KAR) | What is Karura token | What is KAR token?

In this article, we'll discuss information about the Karura project and KAR token

Karura is the decentralized financial hub of Kusama, a scalable multi-chain network for radical innovation and early-Polkadot deployments.

Meet Karura’s all-in-one DeFi platform to help you swap, borrow, lend, earn, and more – all with micro gas fees.

What is Karura?

Karura is the all-in-one DeFi hub of Kusama.

Founded by the Acala Foundation, Karura is a scalable, EVM-compatible network optimized for DeFi. The platform offers a suite of financial applications including: a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX – all with micro gas fees that can be paid in any token.

Why build on Kusama?

Kusama is Polkadot’s faster, wilder cousin – a multi-chain network for radical innovation.

Kusama and Polkadot are independent, standalone networks built in nearly the exact same way, but Kusama has faster governance parameters and higher risk tolerance.

By launching on Kusama, Karura can push the limits of what’s possible, giving the Acala Foundation team a place to launch bold new financial innovations. Karura will access Kusama’s plug-and-play security while enjoying high-capacity processing speeds, micro-gas fees, and interoperability between multiple networks, all ultimately bridged to Polkadot.

Karura will deliver decentralized financial products and stable assets to Kusama’s entire ecosystem of networks.

karura

Stay liquid while staking?

Stake your KSM for LKSM to earn rewards without sacrificing liquidity. LKSM is unlocked and ready to trade, take out collateralized loans, and provide liquidity for additional yield.

Stake any amount of KSM and unstake without the wait.

Perform instant cross-chain swaps.

Trade with Karura’s trustless, cross-chain exchange, powered by an automated liquidity provisioning protocol.

Become a liquidity provider and earn in two ways: exchange fees from Karura DEX and stability fee profit sharing from the kUSD stablecoin protocol.

Earn more with the Karura Dollar.

The Karura Dollar is a decentralized, multi-collateralized stablecoin backed by cross-chain assets. Stable by design with value relative to the US Dollar, kUSD is the defacto stablecoin of Kusama.

Issue a self-serviced loan of kUSD or provide kUSD liquidity to the Karura DEX and earn rewards from trading volume.

Pay a fraction of the gas in any token.

Micro gas fees

KAR - Powering Karura

KAR is the utility token that powers the DeFi hub of Kusama.

Transaction Fees: Powers the micro gas fees and smart contract execution.

Node Incentivisation: Incentivizes network nodes to monitor and relay messages to Kusama.

Governance: Empowers the community to vote, elect council members, and drive the development of Karura.

Algorithmic Risk Adjustment: Auto-adjusts risk parameters such as interest rates or collateral ratio.

Pallet Deployment: Allows teams to deploy new Substrate pallets on the Karura blockchain by staking KAR.

Smart Contract Deployment: Enables teams to deploy new DApps and smart contracts on Karura’s platform after staking KAR.

karura

Karura (KAR) Token

KAR Tokenomics

KAR is a utility token with a fixed supply of 100,000,000. The entire supply will be minted in the genesis block at launch.

Ticker: KAR Relay Chain:Kusama Max supply: 100,000,000 Inflation: 0% Supply Profile: Fixed and deflationary Supply at Genesis: 100,000,000

Parachain Auction Token Details

KAR will be rewarded to participants who support the Parachain Auction with KSM. Upon receipt, 30% of this KAR will be unlocked and transferable, while the remaining 70% will be vested and released gradually over 48 weeks.

Vesting 70% of your initial KAR from the Parachain Auction will vest over a 48 weeks period.

KAR Reward: Supporters will receive at least 12 KAR for every 1 KSM contributed. This can increase depending on participation levels.

11% of Supply: will be issued as rewards to supporters of the Parachain Auction.

30% / 70%: 30% of your initial KAR from the Parachain Auction will be unlocked, liquid, and usable within Karura’s DeFi ecosystem. 70% will vest over the parachain’s 48 weeks slot duration.

5% / 5% Referral: Referral code recipients will receive 10% additional KAR to split between referrer and referee.

Karura Crowdloan Walkthrough | How to participate in the first-ever parachain auction on Kusama

How and Where to Buy KAR token?

KAR has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy KAR token.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase KAR from the website: https://acala.network/karura/join-karura#join-karura-auction.

The top exchange for trading in KAR token is currently ..........

Find more information KAR

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🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

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