Karura’s Crowdloan Registration For Parachain Auction Opened
Karura is the decentralized financial hub of Kusama, have opened its registration for Parachain auction. Kusama is a multi-chain network based on the Polkadot code that allows blockchains to connect for interoperability, scalability, and plug-and-play network security. $KAR is the utility token that powers the DeFi hub of Kusama with a fixed supply of 100,000,000.
Parachain Auction Token Details
KAR will be rewarded to participants who support the Parachain Auction with KAR. Upon receipt, 30% of this KAR will be unlocked and transferable, while the remaining 70% will be vested and released gradually over 48 weeks.
- Vesting—70% of your initial KAR from the Parachain Auction will vest over a 48 weeks period.
- KAR Reward—Supporters will receive at least 12 KAR for every 1 KSM contributed. This can increase depending on participation levels.
- 11% of Supply—will be issued as rewards to supporters of the Parachain Auction.
- 30% / 70%—30% of initial KAR from the Parachain Auction will be unlocked, liquid, and usable within Karura’s DeFi ecosystem. 70% will vest over the parachain’s 48 weeks slot duration.
- 5% / 5% Referral—Referral code recipients will receive 10% additional KAR to split between referrer and referee.
ABOUT KARURA
Karura is the all-in-one DeFi hub of Kusama. Founded by the Acala Foundation, Karura is a scalable, EVM-compatible network optimized for DeFi. The platform offers a suite of financial applications including: a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX – all with micro gas fees that can be paid in any token.
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