The Karura network is the sister network of Acala, the DeFi financial center of the Kusama Pioneer Network, which will open a new scalable, interoperable and user-friendly DeFi ecosystem. As a Kusama parachain, the Karura network will be a low-cost, safe, efficient, and fast iterative multifunctional financial application platform, which will improve the efficiency of users' financial use.

Karura, as the Acala Pioneer Network, its underlying technical code is consistent with the Acala main network, and is committed to becoming the most important decentralized financial (DeFi) center in the Polkadot Pioneer Network Kusama Ecosystem, bringing a series of out-of-the-box DeFi product components used, including over-collateralized stable currency (kUSD), Staking derivatives (LKSM) that release Kusama liquidity, built-in decentralized exchange platform (DEX), etc.

If a Substrate-based blockchain network (such as Karura) wants to achieve interoperability and plug-and-play shared security, it needs to access the Layer 0 basic multi-chain Kusama Pioneer Network in the form of a parallel chain.

Dutch auctionDutch auctionWin the parachain slot in the auction, and the KSM participating in the auction will be locked during the parachain lease period. This means that the project teams participating in the bidding will concentrate on developing products and delivering related needs on time, focusing on serving users and exploring valuable new markets.

Acala Pioneer Network Karura plans to participate in the first batch of parachain leases (PLO, Parachain Lease Offering) on ​​the Kusama network. Parachain slot auctions can be participated in many different ways, below we will explain the Karura network incentives.

If you want to learn more about the principle of parachain slot auction on the Kusama network, you can readPolkadot Related Science Blog。

As the Acala Pioneer Network, Karura focuses on bringing DeFi to the Kusama ecosystem, just as Acala brings DeFi to the Polkadot ecosystem.

Acala Pioneer Network Karura empowers the billion-level Kusama DeFi blue ocean marketAcala Pioneer Network Karura empowers the billion-level Kusama DeFi blue ocean market》

Farewell to the "barbaric era", how does the Polkadot parachain auction bid farewell to the bubble economy vicious circle?Farewell to the "barbaric era", how does the Polkadot parachain auction bid farewell to the bubble economy vicious circle?）

KAR Paradrop: After the Karura network obtains a parachain slot, it will start a Token distribution activity called "Paradrop", giving KAR (Karura Network Token) rewards to those users who help Karura obtain a parachain slot. When Karura officially connects to Kusama in the form of a parachain and starts producing blocks, the Karura network will automatically Paradrop KAR to the user's parachain auction account. It should be noted that not all KARs can be transferred and traded immediately, and each account will be released linearly according to the lock period or the number of locks, but all KARs can participate in the governance of the Karura network, as well as collector nodes, etc.

Binding period: All KSM support participating in the auction will be locked on Kusama (rather than owned by a certain project team) to support projects connected to parachains. After winning this slot auction, the project can enjoy the Kusama Pioneer Network plug-and-play PoS security, and can never obtain KSM.

Any KSM that supports Karura's access to the Kusama network will be fully returned to the original account after the end of the parachain lease (in the case of a successful auction bid), or returned at the end of the auction (in the case of an unsuccessful auction bid).

Kusama community participants can choose a certain period of time to lock their own KSM to help Karura become a Kusama parachain. Therefore, the team will listen to the preferences of community users before deciding to bid for the Kusama parachain deadline. We will also publish a community opinion collection form in the near future, please pay attention.

The number of KAR rewards is unpredictable: As of now, the amount of voting lockup required for Karura to bid successfully is unknown, the auction lease time is also unknown, and the number of chips for other bidding items is also unknown. So for the upcoming Parachain Slot Auction (PLO), although there are many unknown factors at present, we are still very grateful to the community for their support and attention to the Acala and Karura networks. Time provides relevant details such as specific incentive amounts.

The following example is for reference only: In a completely hypothetical situation, a total of X KSMs are locked after the Karura network successfully bids, then users who choose a 6-month voting lock-up period will get 5 KARs at a ratio of 1:5, However, if the same amount of KSM voting locked is successful in the auction, users who choose a 12-month pledge period will get 10 KAR at a ratio of 1:10.

Karura Parachain Lease Offering (PLO - Parachain Lease Offering) will meet with you in the next few months. In addition, we will soon launch the Karura PLO website, PLO registration channel, community opinion collection, etc., and announce more reward details.