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Karura Guide

Obtaining $KSM on the Karura network

Currently no major centralized exchange supports withdrawals onto the Karura network. We recommend following the steps below to obtain aUSD on the Karura network:
  1. 1.
    withdraw $KSM (Kusama) from centralized exchanges (e.g. Binance, Bitfinex, Kucoin) to your Substrate wallet address (recommend using a Polkadot.js wallet) on the Kusama network.
  2. 2.
    use the Karura bridge to bridge the $KSM from the Kusama network onto the Karura network.

Obtaining $aUSD on the Karura network

Now you have $KSM in your Karura wallet, you have two ways to obtain $aUSD:
  1. 1.
    Swap using the AMM pools- Here you can directly swap $KSM into $aUSD. Please note that the price here can deviate from that of centralized exchanges. You also may need to swap some $KSM into $KAR to cover the small gas fees on the Karura network.
  2. 2.
    Mint the $aUSD directly from your collateral by going here. You have the option of collateralizing with $KSM, staked $KSM and $KAR, each with different fees and collateral requirements. For more information on the collateral requirements, please visit the documentation here.

Obtaining $USDT on Karura network

  1. 1.
    withdraw $USDT from a centralized exchange (like Bitfinex) to your Substrate wallet address (recommend using a Polkadot.js wallet) on the Kusama network. This gets withdrawn onto Statemine, a parachain of Kusama which supports minting/creation of assets.
  2. 2.
    You will need $KSM on your Statemine account to pay for gas when you bridge your $USDT to Karura. To do this you’ll need to teleport $KSM from Kusama to the Statemine parachain using the Polkadot.js portal. For the official guide on teleporting to Statemine please read this guide.
  3. 3.
    Once you have $KSM and $USDT in your Statemine wallet, you can use the Karura bridge from above to bridge $USDT from Statemine to Karura.