Over 100M USD Raised in Kusama Parachain Auctions

Acala, Polkadot’s Defi hub and parachain is set to win the Kusama Parachain Lease auction for its Karura network, with over 100M USD raised in KSM as of this moment of writing. The funding came through from over 900 different addresses on Kraken exchange as well as more than 7600 backers via the Karura portal.

Some influential people commented:

“It has been an unforgettable experience creating a more accessible and open financial system. This level of support for our launch of Karura on Kusama, and later Acala on Polkadot, is proof of the positive demand for interoperable, decentralized financial products. We are grateful for such incredible support, and are excited to introduce our DeFi products to the world.”

Ruitao Su, Co-Founder and CEO of Karura and Acala

“We are blown away by the community support for Karura’s launch, as we bring DeFi to the Kusama community. It’s so exciting to see the community embrace this new, ethical, effective model for bootstrapping blockchain projects. We are making history together.”

Bette Chen, Co-Founder and COO of Karura and Acala

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