Taiga Protocol
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Taiga Protocol

Introducing Taiga — Bringing Efficient Liquidity for Uniform Assets on Kusama

After months of collaboration with the Acala and Karura team, we are thrilled to reveal Taiga, the inaugural synthetic asset protocol on Karura, the DeFi hub of Kusama.

About Taiga

Taiga is a parachain agnostic synthetic asset protocol on Kusama. The integration on Karura, the DeFi hub of Kusama, will unleash maximum usability for uniform assets for the Kusama ecosystem.

Taiga is powered by the Stable Asset system, which enables extremely efficient trading and low risk, using uniform, closely pegged assets with the following capabilities:

  1. Stable Swap — a highly efficient exchange liquidity pool
  2. Stable Asset — a synthetic asset backed by a basket of assets with the same value peg (ie. Taiga’s “taiKSM” backed by KSM and LKSM)

Taiga synthetic assets can be used in a broad spectrum of use cases (ie. collateral, liquidity bootstrapping, cross parachain transfers) while maintaining the benefits of the underlying assets (ie. liquid staking yield, crowdloan rewards).

Taiga x Karura

Karura offers a suite of financial applications including a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin (kUSD), and an AMM DEX (Karura Swap). Taiga is seamlessly integrated into the Karura stack, empowering DeFi primitives on Karura through the form of highly usable synthetic assets.

Intrigued by Polkadot infrastructure design and ecosystem development, we were pleased to discover a shared vision with the team behind Acala and Karura to enable open financial services with elegant blockchain technology. As both a Web3 Open Grant recipient, and Acala Ecosystem Grant recipient, we’re able to leverage technical, funding, and marketing resources to propel Taiga’s debut in the Kusama ecosystem.

taiKSM — the first synthetic KSM on Kusama

By introducing the first synthetic asset on Kusama, Taiga is ready to take on the challenge to breakdown liquidity silos and enhance usability for KSM and many other forms of uniform assets (ie. Stablecoins, BTC, ETH). taiKSM is the first synthetic KSM that is synthesized from KSM and LKSM.

Benefits of taiKSM

  • Liquidity providers contributing LKSM and/or KSM into the taiKSM pool experience minimal impermanent loss
  • taiKSM can be used as collateral to mint kUSD while maintaining the underlying rewards generated from liquid staking and/or crowdloan application
  • Traders can benefit from low slippage swap execution for KSM pairs powered by taiKSM pool
  • taiKSM common liquidity pool can be directed to pair with project team’s native token to help bootstrap LP pools to generate trading fees

Next Steps

In the coming days, we will be launching our first community event: The Exploration Begins. Early community members and evangelists will be rewarded. Announcements and participation guidelines will be posted via the following channels:

About Tapio & Taiga

Tapio is a synthetic asset protocol enabling efficient liquidity for uniform assets on Polkadot. It is designed to mitigate liquidity silos by synthesizing different formats of assets into a highly usable synthetic asset in the Polkadot ecosystem. Taiga is an experimental protocol on Kusama and the sister project of Tapio.

Tapio officially started in early 2021 when we received the Web3 Foundation Open Grant and the inaugural Acala Ecosystem Grant. Our team is composed of engineers, financiers, security experts and serial entrepreneurs based in Canada, China and the U.S.

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