Karura KAR

1. Summary

Ranks

Liquidity

81

Developer

61

Social

98

Momentum (beta)

79

Stack Rank™

79

Price

$0.12 +8.6%

Market Cap

$13.09M (#1248)

Supply

101.06M / 105.00M

Tags

More Metrics

Price
52W High price	$0.27
52W High date	4th Feb 2023 (1 year ago)
All Time High (ATH) Date	16th Sep 2021 (2 years ago)
ATH Price	$13.20
% From ATH	-98.53%
All Time Low (ATL) Date	18th Aug 2023 (8 months ago)
ATL Price	$0.06
% From ATL	238.07%

Supply & Trading Volume
Trading Volume (24h)	$186,441.00
Total Supply	105.00M
Max Supply	160.00M
Circulating Supply	101.06M

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Description

Karura (KAR) Is a decentralized financial hub of Kusama, which is a scalable, multichain network for early-Polkadot deployments.

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Karura (KAR) Is a decentralized financial hub of Kusama, which is a scalable, multichain network for early-Polkadot deployments.

This is an all-in-one decentralized finance (DeFi) platform intended to help users swap, borrow, lend, and earn while only paying micro gas fees.

Karura offers multiple solutions, including a trustless taking derivative liquid KSM, a multi-collateralized stablecoin which is fully backed by cross-chain assets (kUSD), and an automated market maker (AMM) decentralized exchange (DEX).

Additionally, Karura also launched as a sustainable token economic model, on-chain treasury, and the Decentralized Sovereign Wealth Fund (dSWF) with the goal of promoting the sustainable development of communities and networks.

Karura has a solid technical infrastructure as well and adopts the new Acala EVM, which is compatible with Ethereum whilst losing none of the functionality behind Substrate.

The KAR Token Explained

KAR is the native cryptocurrency utility token that powers the decentralized finance (DeFi) hub of Kusama. It powers the micro gas fees and smart contract execution. It is also used as an incentive to network nodes with the goal of getting them to monitor and relay messages to Kusama.

In terms of governance, KAR empowers the community to vote, elect council members and drive the development of Kurara further.

Then you have algorithmic risk adjustment, which auto-adjusts risk parameters such as interest rates or collateral ratios.

KAR is also used for smart contract deployment, which enables teams to employ new decentralized applications (dApps) and smart contracts on Karura’s platform after staking KAR. Additionally, KAR is a utility token with a fixed supply of 100,000,000, all of which is minted at the genesis block in its launch.

Features of Karura

Kusama has been described as a quicker version of Polkadot. This is due to the fact that Kusama and Polkadot are both independent of one another and are standalone networks built in the exact same way. Kusama has faster governance parameters as well as a higher level of risk tolerance.

Through launching on Kusama, Karura delivers decentralized financial products as well as stable assets on Kusama’s entire ecosystem of networks.

You can essentially stake your KSM for LKSM, which will give you the opportunity to earn rewards without sacrificing any liquidity. You can essentially stake any amount of KSM and unstake without waiting.

Then you have the Karura Dollar, which is the aforementioned stablecoin backed by cross-chain assets. It is stable with a value that is relative to the US Dollar.

Founders of Karura

The Acala Foundation founded Karura. It is a scalable, EVM-compatible network that is optimized with decentralized finance (DeFi) in mind. It offers a suite of financial applications. In terms of the team itself, we have Ruitao Su, the Co-founder & CEO of Karura, who is also the CEO of Laminar Protocol.

Then there's Fuyao Jiang who is the Co-founder of Karura as well as the Founder of Polkawallet. Bette Chen is another co-founder and COO of Karura and the COO at Laminar. There’s also Bryan Chen who fills the role of CTO of Karura.

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