Kusama’s all-in-one DeFi hub Karura has just passed a vote to enable a network upgrade allowing minting of the Karura Dollar (kUSD). This will also enable the KSM/kUSD pair on Karura Swap as well as the liquidity provider KAR rewards program.
Founded by the Acala Foundation, the DeFi hub is on schedule for launching many important updates. The Karura Dollar is being launched at a time when price-stable currencies to streamline mass adoption of DeFi are in high demand. kUSD is a decentralized, multi-collateralized stablecoin that is backed by cross-chain assets. The currency is pegged to the U.S dollar and is set to become the de facto stablecoin for Karura and Kusama.
With it, users can create a vault in…
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Source: Cryptocurrency - investing.com
