What is the KAR token used for?

How the KAR token is used. Karura is an all-in-one DeFi platform where users can borrow, lend and swap tokens.

What is KAR Token?

KAR is the native and utility token of Karura Network.

What is KAR token used for?

  • Fees on the network
  • Incentivize nodes
  • Governance
  • Deploy pallets by staking KAR
  • Auto-adjust risk parameters

What is Karura?

Karura is an all-in-one DeFi platform where users can borrow, lend and swap tokens. It’s an EVM-compatible parachain on Kusama and the sister network of Acala (Polkadot).

How does Karura work?

Karura is a parachain on Kusama. Nodes stake KAR to validate transactions and receive KAR as rewards.

Currently on other blockchains there are multiple dApps for swaps, lending, stablecoins, bridging and for management.

Karura is a network to encompass most of DeFi and crosschain liquidity into one network.

It features

  • A stablecoin – kUSD.
  • An AMM where users can pay fees with almost any token.
  • Liquid staking of KSM. To earn rewards and also be able to use it for other purposes.

Tokenomics KAR token

Total supply: 100 000 000

Distribution:

  • 60.87% – Community
  • 18.33% – Early backers (12 months lock, 12 months vest)
  • 10.8% – Backers (1 months lock, 5 months vest)
  • 10% – Team (18 months lock, 18 months vest)

Parachain crowdloan (30% unlocked, 70% over 48 weeks)

The Karura crowdloan has finished and the network has secured a parachain slot.

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