Karura Price Chart Update [KAR]

The KAR price update as of now is $0.1302. In the previous 24 hours, its trading volume was $63,289, and its value has decreased by -2.92%. As of now, KAR's live market cap is $13,703,754, and it is ranked as the #3290 on the Coincu. KAR has a circulating supply of 100,000,000 and a maximum supply of 100,000,000.

What is Karura (KAR)?

Karura (KAR) is a DeFi platform and stablecoin built on the Kusama network and integrated with Polkadot. It is an EVM-compatible, scalable, and DeFi-optimized network that allows users to create complex dApps quickly, securely, and with low transaction costs.

Karura offers a suite of financial applications, including Liquid KSM (LKSM), a cross-chain asset (kUSD) backed multi-collateral stablecoin, and AMM.

Karura and Acala are closely related projects developed by the Acala Foundation. While Karura focuses on building a DeFi hub for the Kusama network, Acala aims to create a DeFi hub for the Polkadot mainnet. These networks will eventually work together as branches are established in different countries to meet local needs.

Karura: The Main Activities on the Network

Unlocking Staking Liquidity

Through Karura, users can stake KSM and receive L-KSM (Liquid KSM) as collateral. L-KSM is a replaceable token that circulates on exchanges and can be used in any DeFi application within the Kusama ecosystem. Additionally, L-KSM allows users to extract the value of KSM while ensuring network security.

Unlocking Cross-chain Liquidity

Users can transfer tokens from different blockchains, such as Bitcoin and Ethereum, into the Karura network through bridges that use Wrapped Tokens as fees.

Minting kUSD

Karura also offers kUSD, a stablecoin similar to Acala's aUSD. kUSD is a multi-collateralized decentralized stablecoin pegged to USD. Users can mint kUSD by locking KSM or KAR tokens in the Vaults of the Karura network.

Swap

The Swap feature allows users to exchange various tokens available on the Kusama ecosystem with extremely low fees, including RMKR, KSM, kUSD, KAR, LKSM, BNC, etc.

The Highlights of Karura

• Built on Kusama, Karura inherits the network's plug-and-play security system, ensuring users' peace of mind regarding security.
• Karura integrates Cross-chain technology, enabling seamless interaction between blockchains directly on the network without the need for third parties.
• Users can unlink Kusama without waiting for the 7-day authentication period.
• As a "brother" to Acala, Karura benefits from Acala's latest technologies and updates.
• Building dApps on Karura is straightforward, cost-effective, and offers high scalability and interoperability with other networks.
• Developers can build standalone application models on Karura's frameworks and pay with their own tokens.
• As the Kusama DeFi hub, Karura supports liquidity for any project built on the Kusama blockchain network.

Karura's Roadmap