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Karura has launched its new decentralised exchange (DEX)platform, with KSM/KAR its first cryptocurrency pair available for trading on the platform. As part of the Kasuma implementation of the Acala protocol, Karura Swap, the decentralised exchange, is now live with special features available on the platform.
As announced by Acala, Karura Swap has an initial total value of more than $3.4 million USD locked in thanks to the “Bootstrap feature” which allows liquidity sandbox for the trading pairs. According to the platform, this will avoid market manipulation during the initial launch. The focus on the platform will also be to offer trustless systems which allow seamless transactions and stablecoin loans. As the announcement stated:
“With accessible KSM/KAR liquidity on Karura, users may now put their KSM to work, trustlessly swap, and prepare for the fast-approaching kUSD stablecoin loans, LKSM liquid staking, and liquidity mining programs.”
The Bootstrap feature will also encourage users to take advantage of the fair rate and trading on the platform:
“One novel feature of Karura Swap is the ability to launch a trading pair in “Bootstrap” mode, a brief warm-up period that encourages a pool to achieve adequate liquidity while working to prevent frontrunning and market manipulation. With “Bootstrap,” Karura aims to empower trustless trading at fair market rate to reflect the tenets of equitable and open finance for all.”