Kraken users can support Altair’s Kusama Crowdloan

Key highlights:

  • Kraken Exchange users can support Altair’s Kusama crowdloan by using their KSM. Mark out
  • Altair is a platform developed by Centrifuge that allows users to tokenize Real World Assets (RWAs) and use them as collateral for funding
  • If Altair’s offer is successful, supporters will be rewarded with the project’s AIR tokens

Kraken users can access the Altair crowdloan on Kusama. support

The Kraken cryptocurrency exchange will allow its users to use their KSM to support Altair’s Parachain slot auction offering. Kraken presented its Kusama Parachain auction platform for the first time in early June.

We have news? … #NoLimits #Altair $ AIRhttps: //t.co/h8VLlv6UG9

– Altair (@altair_network) June 23, 2021

Altair is a platform where users can tokenize Real World Assets (RWA) and use them as collateral to gain access to funding. The platform’s native AIR token has a variety of use cases – in addition to being used for transaction fees on the platform and securing the network, it will also act as a governance token.

The Altair platform is developed by Centrifuge and uses the infrastructure of the project. According to a post on Altair’s Medium page, Altair is receiving experimental upgrades even before they are added to the Centrifuge chain. This reflects the philosophy of the Kusama blockchain of being a more experimental counterpart to Polkadot.

Projects that want to secure a parachain rental on Kusama can significantly improve their chances by launching a crowdloan. With a crowdloan, users use their KSM tokens to support their project and help them get enough KSM to win the lease. In return for staking out their KSM, projects usually give their supporters tokens as a reward. This will also be the case with Altair – according to the project, at least 50 AIR will be rewarded for every 1 KSM token used for the project’s crowdloan.

Kraken’s Parachain auction platform provides a way to participate in crowdloans like Altair’s, even for users who prefer the convenience of a cryptocurrency exchange to interacting directly with the blockchain. However, Kraken isn’t the only exchange where users can support Altair’s crowdloan. The leading cryptocurrency exchange OKEx has also announced a similar program.

The start date for Altair’s crowdloan is yet to be announced, but the project says it will be announced shortly. Kusama’s blockchain platform is currently running its first auctions – the first auction closed just this week, with the DeFi Karura project being the first to win a parachain slot auction on Kusama.

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