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Zug, Switzerland. – April 8th, 2022. Lykke Corp, a financial service and product provider based in Switzerland, announces the listing of Kusama (KSM) on its UK-based zero fee cryptocurrency exchange Lykke. KSM is the native asset of the Kusama network which was successfully integrated with Lykke.
Deposits, withdrawals and trading of KSM with zero taker and maker fees have been enabled on the exchange in the following pairs:
Kusama was launched in 2019 by the founder of Polkadot and co-founder and former CTO of Ethereum, Gavin Wood. The team uses practically the same code-base as Polkadot and serves as sort of a testing environment for Polkadot projects. There are different advantages of using the Kusama network for developer teams and startups. First of all, they can test their technology with low barriers to entry but on a real blockchain. It is a real network with a real asset and a real community. Secondly, the projects can start building a community and improve their visibility at a very early stage before passing to Polkadot. And finally, some projects may prefer staying on Kusama instead of deploying on Polkadot to benefit from its innovation. New features become available on the Kusama network before being implemented in Polkadot. However, it is also worth mentioning that it may be adequate for those teams who value speed and innovation more than stability and reliability.
The architecture of the network is quite similar to that of Polkadot: it has a primary Relay-chain and user-generated parachains. These are custom blockchains that use the computer power of the Relay blockchain to confirm the accuracy of the transactions. Kusama uses a variation of a Proof-of-Stake protocol with an option of nomination. The network is governed through staking, which requires users to block a certain amount of their KSM holdings to make the consensus mechanism work. Users can assume two roles: validators, who validate transactions in parachains and govern the main network, and nominators, who are responsible for selecting the validators. Nominators elect validators by delegating them their staked coins. Any user can assume these roles by purchasing and staking their KSM coins. At Lykke you can buy KSM with zero deposit and trading fees.
Lykke exchange is a crypto trading venue registered in the UK and operating in more than 100 countries. It was launched in 2015 by the homonymous Swiss fintech Lykke. The exchange uses a unique business model that allows it not to depend on trading fees and at the same time offer to its customers a secure and compliant environment. There are more than 20 selected cryptocurrencies with liquidity and tight buy-sell spreads. Lykke is one of the best crypto exchanges for API trading because it charges no taker or maker fees whatsoever.