By Ollie H - Cryptocurrency Broker - 23-07-2021
A Decentralised Finance (DeFi) initiative dubbed the all-in-one DeFi hub, Karura Swap, now allows users to trade the pair Kusama/Karura KSM/KAR. The Karura Swap platform has become one of the few Decentralised Exchanges (DEX) to have been released on Polkadot (DOT) and Kusama.
A DeFi feature integration on Kusama's Acala protocol has built and opened one of the first DEXs on the network, Karura Swap. The announcement for the new crypto exchange platform came on Friday, along with the news that KSM/KAR will officially be the first pair that can be traded on the platform.
Reportedly, Karura Swap currently has more than 1,000 unique liquidity providers, with a starting net value of $3.4 million. The developing team behind Karura Swap mentioned a feature that gives users access to a liquidity sandbox. The dubbed "bootstrap feature" is used for trading pairs such as KSM/KAR to help stop market manipulation. The blog post announcement of the new exchange that allows users to swap crypto, stated that Karura plans to bring the trust and faith back into a market that has none. The bootstrap function is said to help investors see the true value of the trading pairs and that the feature will help provide "open finance for all."
So far, the bootstrap feature is available with the KSM/KAR pairing; however, this feature will be implemented to each trading pair the platform launches.