Kusama
KSM Rank #295Price chart
What is Kusama?
Production experimentation
Kusama began operating in 2019 with technology developed by Parity and the Web3 Foundation. It moved from Proof of Authority to Proof of Stake on October 28 that year. The network runs early versions of Polkadot technology in a production environment with real economic value. Its relay chain coordinates shared security for application-specific parachains. Parachains can define their own execution logic and token economies. Cross-consensus messaging enables communication between connected systems.
Staking and governance
Kusama uses Nominated Proof of Stake to select its validator set. Validators and nominators commit KSM to support network security. Faulty or malicious validator behavior can lead to slashing of the associated stake. KSM holders vote or delegate voting power through OpenGov. Governance can authorize runtime upgrades, treasury spending and parameter changes.
Issuance and coretime
KSM has no fixed maximum supply under its current inflationary model. The documented annual issuance rate is 10%, with governance able to change it. Issuance is divided between staking participants and the treasury according to the network's economic parameters. Parachains acquire processing capacity through bulk or on-demand coretime purchased with KSM. Coretime payments are burned, offsetting part of gross issuance.
Where to trade KSM
43 exchanges · top 10
Live spot quotes from connected exchanges
KSM funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.