The Acala Foundation has launched Karura, the first decentralized exchange (DEX) on the Polkadot pilot Kusama network.
According to a statement from the developers, Karura Swap was opened for trading at the end of last week. At the time of launch, crypto assets worth $ 3.4 million were blocked in DEX. The exchange’s first trading pair, KSM / KAR, was formed from its own crypto assets Kusama and Karura.
Karura Swap will use a bootstrap mechanism to launch new trading pairs to achieve liquidity and eliminate some of the risks of market manipulation. This approach involves temporarily disabling trading for the pair until the specified liquidity requirements are met.
The launch of Karura as the winner of the first Kusama parachain auction was announced last month. In the summer of 2019, the Polkadot project launched the Kusama network to experiment with the protocol. In May, the technical lead of the Web3 Foundation said Polkadot’s interconnected blockchain network would require “a completely different paradigm of application programming.”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
