BTSE Will List Polkadot’s Canary Network – Kusama (KSM)

Written by BTSE

March 22, 2023

BTSE Will List Polkadot's Canary Network – Kusama (KSM)

BTSE will add Kusama (KSM) on its platform on Thursday, March 23, 2023, adding to its users’ selection of quality digital assets. Additionally, KSM will be listed on BTSE’s wider ecosystem of 10+ white-label crypto exchanges, enabling better liquidity and pricing. Users will be able to trade KSM via the KSM/USDT and KSM/USDC trading pairs. 

 

Key Dates

1. Deposits and withdrawals enabled: 8:00 AM (UTC) on March 23, 2023 (supported network: Kusama)

2. Trading enabled: 8:00 AM (UTC) on March 23, 2023

 

About Kusama (KSM)

Market Cap: $287,593,584

Total Supply: 9,651,217

Circulating Supply: 8,470,098 KSM

Kusama, often dubbed “Polkadot’s wild cousin,” is an avant-garde blockchain platform devised to furnish developers with a highly scalable and interoperable framework that supports accelerated innovation.

Kusama shares a strikingly similar codebase with Polkadot, one of the most successful interoperable blockchain ecosystems. Kusama identifies itself as a “canary network,” granting fast-paced projects access to a sharded network that boasts advanced scalability, interoperability, and features yet to be seen on Polkadot.

The platform serves as a proving ground for developers eager to innovate and deploy their bespoke blockchains. It can be leveraged as a preparatory network before transitioning to Polkadot; however, numerous projects ultimately choose to remain on Kusama for their final deployment.

Kusama appeals to early-stage startups and experimental endeavors due to its low entry barriers for deploying parachains, minimal bond requirements for validators, and a dynamic environment that fosters creativity and risk-taking.

The KSM token, native to Kusama, provides a multitude of utilities within the ecosystem, including:

  • Governance: KSM holders can participate in decision-making, proposing and voting on network upgrades, modifications, or enhancements.
  • Staking: Users can stake their KSM tokens to support network security and earn rewards in return.
  • Bonding: Developers must lock up (or “bond”) KSM tokens to secure a parachain slot on the Kusama network via a parachain auction.
  • Fee Payment: KSM tokens are used to pay for transaction fees and other network-related services.
  • Crowdloans: KSM holders can support projects by lending their tokens in crowdloans, which help projects secure parachain slots. In return, supporters may receive project tokens or other incentives.

 

Sign up for a BTSE account here.

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Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

 

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