Kusama is an early and unaudited version of Polkadot
Both networks operate as multichain, heterogeneously-sharded blockchains based on nominated PoS (NPoS)
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While the two are closely related, Polkadot adopts a conservative approach and prioritizes reliability and stability, whereas #Kusama is wild and fast
It is not a testnet but a developmental network that is extremely helpful for early-stage deployment & bold experimentation
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A significant problem associated with #testnets is their inability to test things that require some degree of value, e.g., #governance and stakeholder voting/participation
Such activities are futile as no individual is sufficiently motivated to vote on a #network with 0 value
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For this reason, Polkadot introduced Kusama
A low-value network in comparison, nonetheless an independent network that, in principle, has casualty
The team believed it was imperative to test certain activities before deploying them on a high-value network like Polkadot
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Kusama connects a network of custom-built blockchains (parachains) into one unified network
To be able to launch on the network, a team needs to win a slot in the parachain auction
This auction entails locking up KSM (native token) for the entire lease duration (48 weeks)
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Kusama is up to 4 times faster than Polkadot
The speed relates to the network's ability to push code faster
On Kusama, it takes 7 days to vote on proposals/referenda/upgrades and 8 days to implement the change post-voting, compared to a month for each on Polkadot
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Kusama’s staking requirements are lower than Polkadot’s, presenting lower barriers to entry for validators
This equips validators to harden their infrastructure by subjecting it to stress tests in real economic conditions before they move up to Polkadot
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Kusama launched as a pre-production environment with real incentives for Polkadot
Kusama is better suited for early-stage applications because it pushes the limits and gives up robustness and reliability in exchange for speed, innovation, and experimentation
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Developed and supported by @ParityTech and the @Web3foundation, the two networks shall remain closely related
Kusama will keep supporting Polkadot’s ambition as the future of the decentralized web
1/Beanstalk a credit-based algorithmic stablecoin protocol lost $182 m in a flash loan attack on Sunday, April 17th, 2022. The attacker was able to identify and exploit flaws in the governance design that enabled a controlling stake in the protocol.
2/The attacker drained the liquidity pool of its assets and got away with $76 million and BEAN fell about 75% from its $1 peg. So without further ado, let’s dive into the specifics.
3/A lot of people have mentioned this act cannot be classified as a hack or a theft and that it’s simply an outcome of a massive flaw in the governance design. However, I would like to add it was a combination of the following - Flash Loan & Governance Mechanism.
VADER is a liquidity protocol that anchors a slip-based fee Automated Market Maker with the native stablecoin, USDV.
Confused about what that exactly means? Fret not. Let's understand what and how of @VaderProtocol
Or just read the full article here everythingblockchain.substack.com/p/vader-protoc…
@OlympusDAO brought DeFi 2.0 to the fore-front. Liquidity changed from being owned by paper hands and degen farmers (pump and dump) to being protocol owned. While this gave birth to DeFi 2.0, some of the other problems of DeFi still persist.
@VaderProtocol is aimed to bring solutions to some of these problems. It brings the combined features of Terra, Thorchain, and Olympus all wrapped into Vader. Vader Protocol combines Stablecoin anchored AMM, Impermanent Loss protection and Synths with Protocol owned liquidity.