Clover Finance announced on Wednesday June 9, through its Twitter account, that Kraken will support Sakura (SKU) Crowdloan. According to the company, Kraken customers who participate in Sakura Crowdloan will exclusively receive a 20% $SKU bonus.
“Clover Finance is pleased to announce that Kraken, one of the largest and most reputable global exchanges, will support the upcoming Sakura Crowdloan auction. Kraken’s support for Sakura (SKU) Crowdloan will help lower the barrier to entry for many Kusama holders, providing a secure means to participate through the highly trusted Kraken platform”, he said in an article posted on the platform Medium.
The company explained that Kraken customers will be able to contribute KSM to Sakura’s group loan directly without having to leave the exchange. Kraken customers who participate in Sakura Crowdloan will also exclusively receive a 20% SKU bonus in addition to the base amount of 200 SKUs per KSM.
As Clover commented, just over a week ago, the Kusama network made history by becoming the first fully decentralized, secure and heterogeneous blockchain, made possible by technology developed for Polkadot.
It is a substrate-based parachain candidate built specifically for the cross-chain DeFi ecosystem at Kusama.
In his view, based on the success of the Rococo testnet, the stage for Kusama has been set as the first “mainnet” to utilize the power of the substrate. Kusama is considered a Layer Zero protocol and Polkadot’s CanaryNet.
“The Clover Finance team envisions that Sakura will continue to live as Clover’s innovative sister network, and both Clover and Sakura will continue to serve their communities simultaneously. Kusama’s unique on-chain governance parameters enable DeFi applications built on the Sakura network to have higher performance and scalability immediately after launch. This will lower the barrier to entry for the development community to implement their dApps in Sakura, without having to comply with Polkadot’s stricter governance guidelines”, he said.
In addition, he highlighted that, to fully support the development of the Polkadot ecosystem and encourage more token holders to participate in the Polkadot ecosystem, Kraken is supporting Kusama Parachain Auctions in addition to Polkadot Auctions.