Introducing Sakura - Kusama Parachain of Clover Finance
Published date: May 22 2021
1. What is Sakura - Clover’s Canary Network?
Sakura is a substrate-based parachain candidate specifically built for the cross-chain DeFi ecosystem on Kusama. Building on the success of the Rococo testnet, the stage for Kusama has been set as the first “mainnet” to utilize the power of Substrate.
2. Why Kusama, Why Canary Network?
The unique on-chain governance parameters of Kusama enables DeFi applications built on top of the Sakura network to have higher performance and scalability right away. This will lower the barrier to entry for the development community to deploy their dApps on Sakura without having to meet the stricter guidelines of Polkadot.
3. What will Sakura have?
Sakura will utilize all of the core underlying technology stack that Clover has created such as: Clover’s SPV Simulation Technology, EVM Compatibility, Gas-fee Distribution, Cross-chain Interactions, Cross-chain Explorer,.... and these features are continuously innovating . The Clover extension wallet will natively support Sakura dApps on EVM, polkadot.js based injections, and a native-built SKU<->ETH and SKU<->BSC bridge. The trustless cross-chain bridge for Ethereum and Bitcoin will be utilized on both Sakura and Clover. Sakura will ultimately aim to be a parachain Operating System with a storage layer, smart contract layer, DeFi protocol layer and eApp layer built on top of Kusama.
4. Feeconomics design
Sakura will make use of the original Clover feeconomics design, allowing users to enjoy gasless transactions — where relayers will act on behalf of the sender to cover gas fees in any token within their wallet. This means a user will not be required to have SKU in their wallet to transact on the Sakura network. Sakura is also working on a Dynamic Fee Schedule, to be proposed through on-chain governance, where the gas-fee will be proportional to the amount of usage a wallet has on the Sakura network. For developers and creators, Sakura will utilize the gas fee re-distribution model which will allow the dApp builders to receive a part of the transaction fee. Kusama will serve as the innovation zone for these proposals before being adopted by the Polkadot’s Clover network.
5. Clover & Sakura Partnership
Clover has made some strategic partnerships with other projects to spread their newly 2WP technology all over the crypto industry, The list of strategic partner of Clover until now including: Polkadot, The Graph, Chainlink, Prosper, Dodo, Polygon, Litentry, Advanca, BoringDAO, Injective Protocol, Crust, Showcase, Hedget, Snowswap, ETHA Lend, Bella, Dego, Manta Network, Easyfi, UniLend.
6. Core Team Of Clover & Sakura
The core team of Clover & Sakura includes:
Viven Kirby - Cofounder & Project Lead
Norelle Ng - Cofounder & Operation Lead
Burak Keceli - Cofounder & Technical Lead
Sakura is the Kusama Parachain of Clover Finance project. Sakura is a canary network of Clover. It is like a place to test and deploy new technologies to see if it is stable enough to be deployed on the Clover parachain on Polkadot Mainnet.
Website | Medium
See Sakura on DotMarketCap: https://dotmarketcap.com/coin/sakura-network