Karura (KAR) listed on Kraken
Despite an unenthusiastic crypto market and a correcting BTC price, listings continue on Kraken with the new cryptocurrency Karura (KAR).
Trading of the KAR token started on July 20, 2021.
The announced trading pairs are:
There are currently 7 million KAR tokens in circulation for an expected maximum supply of 100 million tokens.
The KAR price is currently around $4.11 on Kraken.
Little known, what is Karura?
Karura is designed to function as a DeFi hub on Kusama, with the aim of enabling developers to build financial apps for its users.
Karura is both a Layer 1 blockchain platform, in addition to a suite of DeFi applications built on the Karura blockchain.
Karura will host several different functions on its platform:
Stablecoins in collateral staking
Users can staking on KSM in order to receive Karura Dollars (kUSD), which maintains a stable value of 1:1 against the US dollar.
An automated market maker exchange (AMM) that works similarly to Uniswap, Balancer, or Curve.
Users can stake KSM on Karura and receive LKSM tokens, using the crypto staked in other trading or investment opportunities.
EVM compatible blockchain
Allows Ethereum decentralized applications (dApps) to run on Karura.
Kraken recently listed Axie Infinity (AXS), Chiliz (CHZ), Covalent (CQT), as well as SOL and SRM tokens, and launched Solana staking.
Other staking offers are available on the platform such as Cardano staking (ADA), Polkadot staking (DOT), Kusama staking (KSM) with 12% guaranteed interest rate, or KAVA staking with 20% interest rate!
If you want to know more about Kraken staking offers or do crypto trading, just visit their website: click here.