Kusama Parachain Altair Will Soon Launch a Crowdloan Backed by Kraken

  • Centrifuge chain will soon launch a crowdloan for DOT to bid for a parachain slot on Polkadot blockchain. 
  • It will mark one of the first parachain slots on Kusama. 
  • The crypto exchange’s involvement will allow Kraken users to stake KSM to the Altair slot while receiving $AIR tokens in return.

A month ago, Centrifuge introduced us to Altair — the home for financing assets on Kusama. Altair is meant for the risk-takers and innovators who want to take DeFi to new heights. Altair is backed by AIR tokens, revealed the official blog post. Kusama parachain is a scalable network of blockchains built along with the same codebase as its cousin, Polkadot blockchain. Kusama was founded in 2019 by Gavin Wood, founder of Polkadot and co-founder and former CTO of Ethereum. In a recent blog post, Altair disclosed that the Kusama parachain Altair would very soon inaugurate a crowdloan. It will mark one of the first parachain slots on Kusama. 

Kraken to Support Altair’s Crowdloan, a Good News for Crypto Conscious Users

Kraken, one of the largest cryptocurrency exchanges, will be supporting the launch of the crowdloan by Altair. This will allow Kraken users to stake KSM to the Altair slot while receiving $AIR tokens in return. KSM is the native token on the Polkadot blockchain. The article revealed that anyone having an account on Kraken, then you can securely participate in the crowdloan once it’s launched. Kraken began its journey with the Kusama parachain auction platform earlier this June. Kraken’s parachain auction platform enables users to access as well as join in crowd loans. 

Kusama Acts as a Pre-production Site for Polkadot

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Moreover, this Kraken collaboration is good news for users who prefer interacting with a crypto exchange rather than directly interacting with the blockchain. Altair supplies real-world assets into the Kusama platform. Kusama, on the other hand, being the Polkadot cousin, helps in faster and more innovative development before the launch of any protocol on the Polkadot blockchain. In short, Kusama serves as the pre-production site for the Polkadot blockchain. Moreover, Altair announced that the Centrifuge chain would soon launch a crowdloan for DOT to bid for a parachain slot on the Polkadot blockchain

However, the Altair team has not yet declared the date of the crowdloan launch. A few weeks ago, the market seemed interested in Kusama(KSM) and Polkadot(DOT) protocols. Both the tokens reached their respective all-time highs of $505.03 and $23.88 on June 10. Kusama had announced that the vote for upgrading its parachain from Shell to Statemine had been passed. The announcement led to the surge in parachain slot auctions, scheduled from June 15 to July 13. 

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Ritika Sharmahttp://www.thecoinrepublic.com
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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