On June 23rd, Beijing time, Acala co-founders Ruitao Su, Bette Chen and Acala's head of global growth Dan Reecer brought an online sharing session on the theme of Karura to the global community. This live event has attracted more than 3100+ users from all over the world to watch. We will share with you what stage of development Karura is currently in, how users can participate, the current preparations of the Acala team and future plans, etc.
Look back at the link 🔗:
https://www.crowdcast.io/e/karura-auction-build-acala
Karura Auction Data
Ruitao Su, the co-founder of Acala, showed everyone Karura's block generation status as a parachain. He said that the network condition is very healthy, the block generation is very stable, and the average block generation time remains at about 12 seconds.
Subsequently, Ruitao showed everyone the data obtained by Karura in Kusama's first parachain auction. In this auction, a total of 501,137.6619 KSM were successfully contributed to Karura’s Crowdloan, and a total of 14,164 on-chain accounts participated. Many CEXs (such as Kraken, OKEx, Kucoin, etc.) supported Karura’s Crowdloan, combined with direct participation through decentralized estimated by users, there are more than 20,000+ total participants, which is a very good user base. Finally, Ruitao also showed everyone the rewards of this Karura Crowdloan. The promised 11 million KAR rewards will be distributed to all participants. Compared with the original 1:12+ promise, the average KSM contributed by everyone will be You can get 19+ (including different stage rewards) KAR rewards.
After successfully bidding to obtain the parachain, Karura immediately launched a new operating platform. Compared with the previous white and blue system, Karura's style interface adopts the black and pink system that matches Kusama. With the development of the launch process in the next month, I believe that everyone will soon be able to use DEX for asset swaps, lending kUSD and exchanging LKSM and other real DeFi functions.
Karura operating platform link: https://apps.karura.network/portfolio
Polkawallet Now Supports Karura Network
Download link: https://polkawallet.io/
Then, Ruitao showed everyone a website to check their ACA and KAR rewards.
Query reward link 🔗:
https://distribution.acala.network/
Through this website, you can fill in your address (Substrate format) in the input box, and then you can see how many Token rewards you have. The rewards that have been determined include the data of Mandala Candy Festival and Build Acala#1. You will See Karura Crowdloan rewards data in the next few days.
Karura onboarding process
Finally, Ruitao shared Karura's launch process and governance stages.
Check out the link 🔗: https://aca.la/karura-roadmap
As of June 23, Karura is in Phase 1, the genesis block has been born, and now all KAR distribution addresses and data are being determined. After the process is over, Karura enters Phase 2, which will do technical verification and Runtime update. After ensuring that KSM can be transferred between Kusama and Karura, KAR will be distributed. All users participating in Crowdloan also need to claim their own Auction rewards, and finally start council governance.
In the Phase 3 stage after the governance of the council is started, the first thing to do is to remove Sudo, open the bridge between BTC and ETH, and then open the DEX function and loan kUSD function through governance. After the function is running stably, you can start the transfer and advance version of LKSM. After that, we will launch a proposal to introduce USDT, upgrade Staking liquidity products, and deploy Acala EVM to Karura.
When all functions are running stably, the election of council members will begin by voting.
