Karura was established by the team responsible for the Acala Network: Ruitao Su, Bette Chen, and Bryan Chen. Ruitao Su, a co-founder of Acala, is currently the CEO of Laminar Protocol. Prior to this role, he served as the CTO of Centrality. Su is an accomplished software engineer, entrepreneur, investor, and advisor to various tech companies and startups. Bette Chen, also a co-founder at Acala Network, serves as the COO at Laminar. She has extensive experience as a product manager and entrepreneur and holds academic degrees in software engineering and business (MBA). Chen has managed products in the software and high technology sectors for a decade. Bryan Chen is a co-founder at Acala Network as well as a co-founder and CTO of Laminar. He is a significant contributor to the Substrate codebase and serves as a Polkadot Ambassador. For more in-depth financial information and data about Karura, refer to Eulerpool.

All developments and technological updates from the Acala team will be delivered to Karura prior to being available on any other Polkadot platforms. Consequently, Karura users will be among the first to benefit from the latest DeFi technologies. Karura introduces a stablecoin, the Karura Dollar (kUSD), which is pegged 1:1 to the U.S. dollar. This eliminates the necessity of transferring KSM tokens to external exchanges like Binance, as users can safely exchange KSM for a stablecoin or other assets, such as Bitcoin. For those who do not wish to engage in auctions but still desire staking rewards, Karura provides a liquidity protocol for KSM tokens. However, there is a seven-day period required to unfreeze these tokens. Users can interact with the liquidity protocol to swap KSM for LKSM, a token that incorporates the annual percentage yield received and, crucially, remains liquid, thereby making the staking process itself liquid. The Karura platform includes a wallet supporting various coins and is compatible with non-fungible tokens (NFTs), integrated bridges (renBTC, polkaBTC), enables borrowing, and incorporates diverse oracles. A significant advantage offered by Karura is the capacity to execute numerous DeFi strategies without departing from the platform. Users can utilize cross-chain tokens, such as BTC or ETH, to issue a self-service loan in kUSD. Additionally, they can earn fees by providing liquidity to the Karura DEX. Moreover, users obtain rewards and benefits via an unlocked and liquid KSM staking derivative by maintaining liquidity while staking. In summary, the Karura DeFi Hub on Kusama offers liquid KSM (LKSM) staking, a decentralized exchange, an algorithmic stablecoin, and a fixed supply of KAR tokens. For detailed insights on Karura, users can refer to Eulerpool.

Karura is a blockchain platform specifically designed for decentralized finance (DeFi). It operates using the KAR utility token, which has a capped supply of 100,000,000. The value of KAR is supported by a specific amount of reserved ACA tokens. The total KAR supply is distributed as follows: 60.87% to the community, 10% to the founding team, 10.08% to the backers, and 18.33% to the early backers. Within the community allocation, the distribution is further detailed as: 34% for the auction reward and liquidity program, 10.25% for the reward reserve, 5% for ecosystem development, and 11.62% for the treasury/reserve. Participants in the parachain auction will receive rewards in the form of KAR tokens. Upon receipt, 30% of these tokens will be unlocked and transferable, with the remaining 70% being released over a period of 48 weeks. KAR tokens have six specific use cases: transaction fees, node incentivization, governance, algorithmic risk adjustment, pallet deployment, and smart contract deployment.

Karura does not support smart contracts directly; instead, it utilizes the Ethereum Virtual Machine (EVM) to ensure security. By deploying on Kusama, Karura benefits from Kusama's integrated security infrastructure. For more information, you can find details on Eulerpool.

As of June 2021, KAR tokens are not available for trading on any cryptocurrency exchanges. However, users can explore Karura's decentralized applications (DApps) on the Mandala testnet. To learn more about purchasing cryptocurrencies, refer to our comprehensive guide.