What Is Calamari Network (KMA) And How Does It Work? | KuCoin Crypto Gem Observer

2021/11/26 10:01:49

A much-desired privilege on a blockchain is privacy, and Calamari Network can provide this. Transparency is one of the pillars of blockchain technology and is not something to let go of. 

Calamari Network is offering this privacy with private transactions, private swapping, and by privatizing all tokens. What sets them apart from other networks that offer private transactions, and do they bring something new to the table?

What is Calamari Network?

Calamari Network runs as a canary net for Manta Network. A canary net is the test environment on the Kusama blockchain for projects that run on Polkadot. With Calamari running on Kusama, they will test various new features before they are released on the Polkadot chain.  

Calamari has become the 7th real-world parachain on Kusama. They are the only plug-and-play privacy-preservation parachain to serve the complete Kusama chain. Manta Network will do the same on Polkadot. 

They have built a private layer for the entire Kusama ecosystem with zkSNARKs. This gives privacy to transactions and swapping. 

How does Calamari Network work?

Calamari Network is built on the Substrate framework. This offers leverage for interoperability, and the zkSNARKs offer leverage for scalable privacy. It offers two services that accommodate private transactions and private swapping. This comes in the form of a private payment option and a private decentralized exchange (DEX).

MariPay — This service supports private transfers of Kusama and its various parachain assets. This includes well-known crypto coins that are supported on Kusama. Popular assets can be transacted, just like stablecoins or wrapped crypto coins, like BTC. At the same time, it offers on-chain privacy through ZKP. The Manta Network offers the same service as MantaPay in Polkadot.

MariSwap — This maintains the privacy of user addresses whilst offering swaps between various parachain assets. It is just like a private AMM-based DEX. It also offers unique options like a private liquidity pool. The Manta Network offers the same service as MantaSwap on Polkadot.

Who created the Calamari Network?

The team behind Calamari Network is more or less the same team as the Manta Network. They have a big team, with over 30 people working on both projects. Based in Boston, USA, they have an experienced team with diverse backgrounds.

With their vision and background in various areas of blockchain technology development, they are well capable of handling the challenges in front of them. They are well-equipped to give privacy its well-deserved position within the blockchain space. 

What is the KMA token, and what is it used for?

The KMA token is the native utility token of the Calamari Network. Token holders receive rewards through rebates and a redemption mechanism, MariPay and MariSwap usage fees.  Moreover, it is also used for governance and has extended other functions. There is a burn function for redemption.

The token has a community-first focus. Parachain Loan Offering (PLO) participants received up to 30% of the project's total supply. This is part of the rewards to help Calamari Network secure a parachain. KMA does not have a private sale and there will be no tokens for the team.

Closing thoughts

Calamari Network is offering privacy in three different areas. Private transactions on MariPay, private swaps on MariSwap and by privatizing all tokens. They serve the entire Kusama chain and offer interoperability between parachains.

They provide a great service and are capable of testing all required functions before it will be released on the Manta Network on Polkadot. Calamari Network has some unique features that seem to work well in the real world.

Finally,KuCoin will list Calamari (KMA) and open the KMA/USDT trading pair as a world premiere on November 29th. Let's wait and see it.

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