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Blockchain

What is KSM coin? And what is it used for?

Kusama is a proof of stake scalable cross-chain blockchain. It’s the cousin and liv test network for Polkadot.

The KSM coin

KSM is the native and utility token of the Kusama blockchain.

KSM coin is used for

  • Governance (democracy)
  • Parachain auctions
  • Become a validator
  • Fees to validators

How could value accrue to KSM?

Fees

  • Transactions

Locking

  • Parachain auctions
  • Block production
  • Governance

What is the Kusama network?

Kusama is a proof of stake scalable cross-chain blockchain. It’s the cousin of Polkadot with the purpose to test the different features of the real chain.

How the protocol works

Kusama is made for fast innovation and experimentation. Built on substrate with almost the same code implementation as Polkadot.

Features

  • Fast iteration
  • Low cost to launch a blockchain with parachain auctions
  • Governed by token holders
  • Test out projects and prototypes in preparation for a Polkadot launch.

Anyone who held DOT at the genesis block of Kusama can claim an equivalent amount of KSM tokens.

Staking

  • The token requirements to be a validator on Kusama will most likely be a lot lower than on Polkadot.
  • Token holders can stake to nominate validators.

Staking can generate 14% yield.

Parachains

Parachains will be available on Kusama earlier than on Polkadot.

  • Anyone wanting to launch a parachain (sub-blockchain) locks tokens according to an auction mechanism.

Democracy

Any tokenholder can submit a proposal to be voted on. 

  • They do so by submitting a bond of tokens.
  • Other token holders second proposals by bonding tokens to it.
  • The proposal that’s the most seconded will be moved to the top to be voted on.
  • Longer bond amplifies both proposal and being seconded

KSM Tokenomics

Total supply: 10,000,000 


Inflation: 10%
Airdrop: Anyone who held DOT at genesis can claim KSM.

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KSM coin price

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