Wednesday, July 28, 2021
HomeDeFi Token Karura (KAR) Goes Live for Trading on OKEx Platform

DeFi Token Karura (KAR) Goes Live for Trading on OKEx Platform

The native token of Karura – KAR – will commerce towards the USDT stablecoin on OKEx. The Karura parachain on Polkadot’s Kasuma is an all-in-one DeFi platform that permits customers to “swap, borrow, lend, and earn,” at some micro charges.

On Tuesday, July 20, common cryptocurrency trade OKEx introduced the itemizing of DeFi Hub Karura’s native token KAR. The Karura (KAR) DeFi token is buying and selling 2.41% up within the final 24 hours at a worth of $4.20. The Karura (KAR) token is at present buying and selling on the OKEx spot buying and selling market towards Tether’s USDT stablecoin. Additionally, understanding about Karura, it’s an all-in-one DeFi platform that permits customers to “swap, borrow, lend, and earn,” at some micro charges.

Moreover, the full provide of Karura is 100 million KAR tokens. The circulating provide by the top of 1 12 months shall be round 37 million. Karura is the primary venture to safe a slot on Polkadot‘s Kusama platform. The announcement additionally notes:

“All Karura supporters throughout the launch of OKEx’s early fowl voting for the Kusama parachain slot auctions will get a chunk of the restricted version “OKEx Karura NFT.”

Concerning the Karura Platform

As stated, Karura is the first-ever parachain public sale on the Kasuma blockchain community. Final month, the Karura neighborhood contributed to over 200,000 KSM token gross sales elevating a complete of $100 million.

Karura runs a parachain providing a full suite of DeFi companies on Polkadot’s Kusama platform. This additionally features a cross-chain automated market maker together with a stablecoin collateralized by a number of cross-chain belongings.

Earlier in April 2021, the Acala Blockchain which constructed the Karura DeFi parachain for Kusama integrated the chainlink worth feeds. Chainlink’s common oracle options will assist Karura builders with tamper-proof, hyper-reliable, and exact monetary market information instantly on-chain.

Thus, Karura builders can use this information to construct safe DeFi purposes and merchandise. It might be for a number of use circumstances like derivatives, lending, stablecoins, asset administration, and extra. The Chainlink Worth Feeds will facilitate Karura builders with time-tested oracle safety and premium information high quality.

Moreover, by leveraging Kusama’s plug-and-play safety, high-capacity processing pace, micro-gas charges, and interoperability throughout networks, Karura offers a broad suite of monetary purposes together with trustless staking derivatives merchandise (liquid KSM), a multi-collateralized stablecoin backed by cross-chain belongings (kUSD), and a decentralized trade utilizing the AMM liquidity mannequin and an Ethereum mainnet bridge.

The Karura Defi venture units a milestone by way of increasing the DeFi utilities within the crypto area.

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Bhushan Akolkar

Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s repeatedly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary abilities.

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