The First Decentralized Exchange Launches on Polkadot and Kusama
The first DEX platform launched on Polkadot and Kusama, Karura Swap, opened trading on the Kusama/Karura (KSM/KAR) pair.
According to the announcement, the Karura Swap platform is already running and KSM/KAR is the first trading pair on the exchange. The launch of Karura Swap was with an initial total cost locked above $3.4 million. Also, at launch, there were already more than 1000 unique liquidity providers on it.
In fact, the KSM/KAR pair went through the bootstrapping stage and started working only after reaching the set liquidity target. After the launch of DEX, Karura Swap became the first decentralized exchange on Polkadot and Kusama and the first channel to securely trade Kusama tokens on DEX.
Other trading pairs to be launched on Karura Swap may also use the Bootstrap’s feature.
Stablecoin Tether previously announced a partnership with Polkadot and Kusama. USDT will first be available for trading on Kusama, and on Polkadot a little later.