Kusama Coin Price & Market Data
Kusama price today is $311.33 with a 24-hour trading volume of $275,244,541. KSM price is down -2.0% in the last 24 hours. It has a circulating supply of 9 Million KSM coins and a max supply of 10 Million. If you are looking to buy or sell Kusama, Binance is currently the most active exchange.
What is Kusama?
Kusama is a public blockchain network that is running the exact same codebase as Polkadot. It is aimed to be a canary build for the Polkadot network which is an experimental and development environment for new features that will eventually be deployed to Polkadot. Because of the experimental nature of Kusama, the developmental speed is much faster and it has seen significant traction since launched in 2019.
Notable projects that have expressed interest to deploy on the Polkadot network are also treating Kusama as an experimental sister chain. For example, the Acala DeFi network which was planned to be rolled out on Polkadot, will begin deploying the Karura network on Kusama first.
Who created Kusama?
Founders of the project include team members of Polkadot such as Gavin Wood (whom used to found Ethereum with Vitalik Buterin and team), Peter Czaban, and Robert Habermeier.
What is the Kusama Parachain Slot Auction?
The Kusama network consists of a multi chain architecture. These chains (also called parachains) are interconnected with each other within the network through leasing a slot on the Relay Chain. In order for a chain to obtain a slot, projects will need to bid for it via an auction. The Parachain Slot Auction is conducted in order to allocated slots to the projects that have the most KSM bonded coins.
In order to raise enough KSM to secure a slot, projects may opt for a parachain loan offering to raise KSM from the public. Holders will need to bond and lock their KSM coins with the project that they are interested to support with the hope that the project will secure a slot and go live with the network. As auction participants will be taking risks of locking up their KSM, projects would typically offer some sort of reward incentives, one option would be for them to offer their own native token should the network launches.
For example, Karura is offering 12 KAR tokens for every 1 KSM that is contributed to their loan offering.
Projects should opt to using the Kusama built-in crowdloan module when confucting the loan offering to ensure users funds are protected and remains locked for the purpose of the slot lease.
The Kusama auction guide is a great place to read more about the entire mechanism.
How can I participate in a Kusama parachain auction?
Users can choose to participate in the parachain auction in the form of a crowdloan. This can be done through a centralized exchange or decentralized services. They would also need to hold some KSM coins.
For a decentralized options, users can consider Bounce, Math Wallet, or interacting with the Polkadot.js on the project website directly.
Where can I find all the projects that are participating in the auction and offering a crowdloan?
You may visit the Subscan explorer crowdloan section to follow real time progress of the crowdloan.