The Web3 Foundation is launching an early version of Polkadot called the Kusama network.
The network is going to launch this summer, according to the press release shared with The Block. It is an “early, unaudited and unrefined release of Polkadot.Kusama,” and it will be used as a proving ground for developers who wish to create parachains or check out Polkadot’s functionalities in a real environment. Kusama is designed for young and high-risk projects that are planning future launch on Polkadot.
The project is highly experimental. As the project is not a typical test-net but a “canary network,” it is not centralised and will not have a central kill switch.
Kusama will have its own native token called KSM. Those who purchased DOTs will obtain an equal share of the Kusama network. For those who do not own the token, the Web3 Foundation will provide the tokens from its own holdings. In the future, 1 per cent of DOT tokens has been reserved for incentives for Kusama’s stakeholders and community.
“Polkadot introduces so much cutting-edge technology that we decided to dispense using fake networks with pre-designed incentivizations and simply offer a blanket reward for the token holders and let the mechanics take care of themselves,” Said founder of Polkadot and the Web3 Foundation Dr. Gavin Wood. “Let’s take our first step into this unknown and see what chaos awaits.”