Karura is the Polkadot implementation of the Acala protocol and has launched its decentralized exchange (DEX) platform Karura Swap.
according to announcement Released on Friday, the DEX platform is now online, and KSM/KAR is the first trading pair on the exchange.
According to the detailed information provided in the announcement, Karura Swap has been launched, with an initial total value locked at more than US$3.4 million, and has more than 1,000 unique liquidity providers (LP).
The team revealed that the release of DEX highlights the benefits of its “guidance function”, which provides a liquidity sandbox for trading pairs with a walled environment. According to reports, it can prevent preemptive trading and market manipulation during the initial release of the trading pair. .
“Through Bootstrap, Karura aims to authorize trustless transactions at fair market prices to reflect the principles of fairness and open finance for all,” the blog post added.
In fact, the first KSM/KAR pair passed the bootstrapping stage and went live only after meeting the specified liquidity targets. With the launch of DEX, Karura Swap became the first decentralized exchange on Polkadot and Kusama, and the first way to conduct trustless transactions of Kusama tokens on DEX.
Other trading pairs that will be launched on Karura Swap can also use Bootstrap. During this process, the LP can choose to provide one or two tokens in the pool, and the transaction will remain suspended until the set liquidity target is reached.
Since Karura is envisioned as the decentralized financial center of Kusama, the team stated that other features such as kUSD stablecoin loans, mortgages, and liquidity mining programs are under development. These additional agreements are part of a plan to establish a network within a 48-week network lease, which is secured by winning the parachain auction period.
As Cointelegraph previously reported, Kalula became the first Kusama Parachain Slot Auction The winner on June 22 pledged more than 501,000 KSM during the crowdfunding process.These slot machine auctions have decided Parachain that will be added to the Kusama relay chain, It is the supporting network of Polkadot.