By Harry B - Crypto Specialist - 22-06-2021
A DeFi project on the sister network to Polkadot (DOT) has been awarded the first-ever auction slot on Kusama in recent crypto news. Karura, a Decentralised Finance initiative that runs on Acala, has collected over half a million Kusama (KSM), which equates to $100 million at the time of writing. Karura raised a significant amount of KSM through its community donations.
The Kusama network tweeted out that over 15,000 network stakeholders have put money into KSM in hopes that Karura would be added. The DeFi project, Karura, is an application that allows users to trade crypto and even develop other Dapps. The Karura app also provides its services to developers without significant transaction fees.
With the latest win for the auction slot on Kusama, this guarantees Karura a 48-week lease to establish itself on the canary network. The dubbed canary network is on Kusama, which is part of Polkadot's pre-production environment. Karura shares almost the same coding and design as Polkadot; the difference is that Karura has more room to experiment and install new upgrades more efficiently. The design of the Karura network makes it highly desirable, more so than Polkadot; the downfall is that Karura was a pricey initiative.
Karura's rivaling networks, like Cosmos (ATOM) and Solana (SOL), also support developers by keeping costs low. The rival ecosystems are also freeing up some traffic on the Ethereum (ETH) network as people flock to DeFi. Each network has its own native token for users to exchange crypto within the platform.
If you are looking to Buy and Sell Cryptocurrency, but you’re not sure where’s the best website to buy Bitcoin (BTC) in the UK? You can head over to BC Bitcoin, where you can chat to a team member to get you started today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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