DeFi Network Karura Raises $100M Ahead of Kusama's Parachain Auction
The money came from a "crowd loan" and included more than 8,500 contributors.

Karura, a network offering decentralized finance (DeFi) services to users of the Polkadot and Kusama platforms, has raised 200,000 KSM tokens, equivalent to $100 million, in a crowd loan, the protocol said in a tweet.
The funding is timely because bidding for Kusama’s parachain auction, which will feature projects looking to dive deeper into the Polkadot ecosystem, starts next week. More than 900 addresses on Kraken exchange and more than 8,500 contributors, mostly from Karura’s own portal, chipped in on the funding round. For each KSM, contributors will receive 12 KAR tokens. Loaned KSM tokens can be used once Karura’s parachain lease ends after 48 weeks.
“This level of support for our launch of Karura on Kusama, and later Acala on Polkadot, is proof of the positive demand for interoperable, decentralized financial products,” Ruitao Su, co-founder and CEO of Karura and Acala, said in a press release.
Karura is a token trading application built to provide users with a platform to build and use scalable DeFi applications without large transaction fees and external operations between chains. It is the sister of Acala Network, Polkadot’s main DeFi project.
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State of the Blockchain 2025

L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
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2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
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ETH, SOL, ADA slump as bitcoin weakness lingers despite record stocks jump

Investors are showing increased risk aversion, with significant outflows from crypto investment products last week.
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- Bitcoin and major cryptocurrencies declined as the total crypto market value fell 1.4% to $2.97 trillion.
- Global stocks reached new highs, with MSCI’s All Country World Index rising for a fifth consecutive session.
- Investors are showing increased risk aversion, with significant outflows from crypto investment products last week.











