Coinbase Cloud kicks off the new collaboration by supporting KSM liquid staking on Karura.
Web 3 and blockchain infrastructure provider Coinbase Cloud has announced a new partnership with Acala Foundation, the DeFi hub of Polkadot, by first bringing KSM liquid staking on Karura. KSM is the native token of the Kusuma network, a public pre-production environment for Polkadot.
Unlike traditional staking in proof-of-stake networks, Liquid staking allows asset delegators to access their funds while staking their tokens. In this way, validators can put their staked assets in other applications, potentially unlocking more value through DeFi activities., Coinbase Cloud is “powering allowlisted validators that receive delegations from the community.
The latest developments come on the heels of Coinbase Cloud, having worked on Polkadot and Kusama since their earlier testnets and offered web3 builders infrastructure solutions for Substrate, a Polkadot-based framework for building customized blockchains. Users on Karura can also stake their DOTs and receive representative L-Tokens , as they are tradeable in the Polkadot ecosystem and redeemable for the underlying assets. In addition, liquid staking on the protocol will enable validators to mint aUSD, the native stablecoin of the Polkadot and Kusama ecosystem.Despite the advantages of liquid staking – Coinbase Cloud warned – whenever validators are slashed, they are still subject to losing a portion of their tokens.
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