Liquid staking provides increased token utility for locked staked tokens. It allows users to leverage additional DeFi activities (such as securing Kintsugi vaults) using yield-bearing derivatives of staked tokens which otherwise have no utility beyond locking for staking rewards.

LIQUID STAKING 101

Users can compound their yield by utilizing the derivative token for engaging in DeFi activities, including things like trading, liquidity providing, or lending. Liquid staking provides a practical and flexible alternative to the traditional staking model by allowing users more control over their funds and greater access to additional earning opportunities.

Karura is Acala’s experimental “canary” network on Kusama. The DeFi appchain runs a suite of applications for the Kusama ecosystem, including Karura Swap, the AMM-style DEX for trustless trading and liquidity provider rewards, aUSD, an over-collateralized stablecoin, and KSM Liquid Staking (LKSM) — the unlocked, yield-bearing staking token that empowers users to stay liquid while earning their Kusama staking rewards.

Stay Liquid While Staking, and Utilize your LKSM on Kintsugi

In addition, Liquid KSM (LKSM) allows users to stake their KSM while maintaining access to its liquidity. When KSM is staked, users receive LKSM (a tokenized receipt for their stake) with the additional benefit of it being a yield-earning token.

Liquid KSM offers low staking minimums, and no unbonding period for the underlying KSM since users can unbond at any time for a fee. New to LKSM? Follow this guide to start staking your KSM on Karura for LKSM.

Sending your KSM to Kintsugi

Once you have your LKSM on Karura, the process of sending it to Kintsugi is quite simple. Just navigate to Karura’s bridge page, select Karura as the original chain and Kintsugi as the Destination chain and send it to your account on Kintsugi.

Registering a Multi-Collateral Vault on Kintsugi

A single Kintsugi Vault account can support more than one collateral asset.

After installing a vault client, you should follow this guide, which offers you different ways to register a vault. During the registration process, you will select the types of collateral you would like to use. Select LKSM as your desired option and then deposit it as a new collateral asset. Once this is done, the new collateral Vault will appear in the cards in the Vault dashboard.

ABOUT Karura Network

Acala is an appchain powering Web3 finance. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, the over-collateralized aUSD stablecoin, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate. Karura is Acala’s sister parachain to serve the Kusama ecosystem and shares the same codebase as Acala.

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ABOUT Kintsugi

Kintsugi is Interlay’s canary network, a testnet with real economic value deployed on Kusama (Polkadot’s canary network). Kintsugi and Interlay share the same code base — with the difference that Kintsugi is 2–3 releases ahead of Interlay with more experimental features.

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Acala Now Supported on Ledger. Holders of Acala’s native governance and utility token ACA can now use Ledger devices for securing or transferring assets. Other Acala-based tokens like aUSD, LDOT, and tDOT are supported, as well as Karura-based tokens like KAR, aUSD, LKSM, and taiKSM. You can also use your Ledger device with any app on the Acala and Karura blockchains, including for DOT liquid staking (LDOT) or using the DOT synthetic from Tapio, tDOT.

Generally considered among the safest methods of managing cryptocurrencies, hardware wallets allow users to keep their private keys stored safely offline. Ledger, the leader in cryptocurrency and blockchain security, now supports Acala and Karura.

Acala’s integration with Ledger means users can get the security benefits of keeping their private keys secured on a Ledger hardware device while also being able to manage accounts, perform transactions, and facilitate DApp activity all in one app.

About Ledger

Ledger one of the leading providers of secure hardware wallet solutions. Generally considered among the safest methods of managing cryptocurrencies, hardware wallets allow users to keep their private keys stored safely offline. Ledger’s popular Nano S and Nano X wallets have sold over 1.5 million units. Ledger Live is Ledger’s all-in-one cryptocurrency management application.

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About Acala

Acala a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative. A decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.

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The Swim launch on Karura, bringing a multi-chain liquidity pool to the Karura and broader Kusama ecosystem. Swim will provide Karura with USDT metapool liquidity for increased DeFi and stablecoin functionality. The integration allows our users to swap native stablecoins across eight supported ecosystems. Once Acala is live on Wormhole and aUSD is fungible across Karura and Acala, Swim will also add aUSD support for both platforms.

Meet Swim

Swim a multi-chain AMM for native assets, designed to simplify bridging through multi-token liquidity pools and the Wormhole bridge. It eliminates the need for centralized bridges or wrapped assets by facilitating native token swapping across different chains. To leverage Swim’s product, users can simultaneously connect wallets from various protocols supported on Swim to facilitate native stablecoin swapping.

Swim’s AMM technology and Wormhole’s cross-chain communication make token swaps efficient across multi-chains. The model strengthens interoperability amongst different protocols with its barrier-eliminating solution for users performing cross-chain transactions.

Swim builds Web3 and blockchain’s market presence by:

1. Bridging the multi-chain blockchain ecosystem through Wormhole’s bridging technology
2. Employing an AMM-style bridge simplifying bridging tokens for native stableswap pools
3. Positioning itself as a core building block in the multi-chain ecosystem

Karura marks the eighth chain integration for Swim. BNB Chain, Avalanche, Ethereum, Aurora, Fantom, Polygon, Solana, and Karura form the growing list of supported chains enabling the native stablecoin swaps across their ecosystems.

Swim’s USDT metapool increases stable swap options for users

Karura and Swim’s integration enables the USDT metapool launch, meaning USDT on Karura is now a supported metapool on Swim. Metapools allow Swim to facilitate trading between new tokens and an existing metapool or Swim’s signature hexapool of USDC, USDT on Ethereum, Solana, and BUSD on BNB Chain.

Swim’s USDT metapool increases the swap pool, improving liquidity services for Wormhole. With Swim’s multi-token liquidity pools and an easy UX, Wormhole is evolving beyond bridging activities to offer increased DeFi functionality,

Using the USDT metapool provides a broader market pool for swapping stablecoins across an expansive network of protocols supported by Swim. Karura users can leverage the new integration to access efficient USDT liquidity and easy multi-chain stablecoin swapping.

About Swim

Swim is a multi-chain AMM for native assets, designed to make bridging as easy as possible. Swim eliminates the need for wrapped assets by allowing users to swap from a native asset on one chain to a native asset on any other supported chain. Swim’s solution reduces the barriers faced by users when performing cross-chain transactions, enabling true interoperability between various blockchain networks.

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About Karura & Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate. Karura is Acala’s sister parachain to serve the Kusama ecosystem and shares the same codebase as Acala.

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