MNet Pioneer

Karura is an all-in-one decentralized finance (DeFi) hub and stablecoin platform built on Kusama (KSM) and integrated into Polkadot (DOT). Karura was created by the Acala Network, which has won four Web3 Foundation grants and founded the Substrate Developer Academy.

To learn more about this project, check out our deep dive of Karura.

Both Karura and Acala are backed by multiple funds, including Coinbase Ventures, Pantera Capital, Polychain Capital and Hypersphere. Karura and Acala operate in parallel. Specifically, Karura is implementing DeFi on Kusama in the same way that Acala is offering DeFi on Polkadot. The network is built with almost the same codebase as Acala: the two platforms provide scalable, convenient and fast DeFi cross-chain ecosystems for Kusama and Polkadot.

Parachain Karura is a platform that allows users to create effective, low-cost and complex financial applications, saving time and increasing trading efficiency.

The platform itself provides a multi-collateralized stablecoin backed by cross-chain assets (kUSD), a trustless staking derivative (liquid KSM), and an automated market maker (AMM) decentralized exchange (DEX) for unlocking liquidity and supporting financial innovation.

Karura is the decentralized financial hub of Kusama, a scalable multi-chain network for radical innovation and early-stage Polkadot deployments. Karura is the sister network to Acala. It hosts multichain liquid staking token (LST) protocols (such as liquid KSM - LKSM), an AMM decentralized exchange, and an app platform that is EVM-compatible and highly customizable (based on Substrate). Karura is secured by Kusama, and is the liquidity gateway of Kusama parachains, Acala and L1/L2 blockchains

Karura

Acala Token

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.

Moonbeam is much more than just an EVM implementation: it’s a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.

Moonbeam’s Ethereum compatibility is unmatched:

Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigure

Use Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.

Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam

Tap into the Most Integrations on Polkadot: use existing oracles, bridges, wallets, and other tools that are already building on Moonbeam

Moonbeam provides integration and connectivity between Polkadot Parachains as well as with other chains such as Ethereum and Bitcoin via bridges. Moonbeam was started in 2019 by Derek Yoo of Pure Stake.

Moonbeam

Moonriver is an Ethereum-compatible, smart-contract parachain on Kusama. It is intended to be a companion network to Moonbeam, where it will provide a permanently incentivized canary network. New code will ship to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code will ship to Moonbeam on Polkadot.

It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to existing Ethereum networks.

This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonriver with minimal changes.

Moonriver

Efinity is a cross-chain NFT platform developed by Enjin and built on Polkadot. Efinity was created as the next generation blockchain for digital assets with the aim of adapting to the challenges of the world of non-fungible tokens (NFTs), according to the project.

The main specialization of the Efinity project is the NFT space. With the protocol, traders and gamers can create, distribute, transfer, sell and buy NFTs. Efinity aims to remove barriers to entry into the NFT space/decentralized gaming, and to simplify user experience and digital asset governance.

Efinity Token powers the entire Efinity ecosystem, EFI aims to prioritize the generation, transfer and purchase of tokens using an inter-chain infrastructure of protocols resulting in lower transaction fees. As for incentives, rewards on PoW blockchains with NFT functionality go to miners who create/trade tokens, thereby forming a community.

One of the long-term goals of Efinity is to become a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, facilitating the pricing and exchange of NFTs, increasing transaction volume, and creating network effects.

In December 2021, the project won the Polkadot parachain auction, and in March 2022, Enjin launched their flagship parachain Efinity on the Polkadot Relay Chain — a blockchain platform that provides a decentralized parachain network where people havecontrol over their data and identity.

Efinity Token

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Kusama

0xBitcoin

Clover Finance (CLV), or simply Clover, is a blockchain operating system. It provides a one-stop, easy‑to‑use blockchain infrastructure and an ethereum virtual machine (EVM) compatible framework for Substrate‑based applications.

Clover Finance, another offspring of the Substrate-based Polkadot parachain aims at bridging the compatibility gap when building and operating across blockchains.

The project was founded in May 2020 and the mainnet of Clover Finance launched in July 2021.

Astar is a collective driving web3 adoption originating from Japan, seamlessly bridging Astar Network and Soneium ecosystems. Soneium, an advanced Layer 2 solution developed by Sony Block Solutions Labs, creates new opportunities for Astar's growth by enabling mainstream Web3.0 adoption through consumer-friendly applications, payment solutions, and decentralized finance. The ASTR token serves as the unifying asset across this collective, powering innovation within Soneium and strengthening its ties to the core functionalities of Astar Network.

Astar Network operates as the governance & staking layer, providing a secure and scalable multi-VM environment, while Soneium acts as the adoption layer, leveraging Ethereum's OP Stack for high-speed, low-cost transactions tailored to entertainment and consumer applications. The two ecosystems are seamlessly interconnected through the ASTR token, which facilitates interoperability via multiple interoperable solutions. By combining the strengths of Astar Network and Soneium, Astar collective is pioneering a vision of interoperability and accessibility, empowering developers and users alike to unlock Web3.0’s full potential and bring blockchain technology to billions worldwide.

The project, which is backed by Binance Labs and Coinbase Ventures, operates on two layers: the first layer is built on the Substrate framework, and the second is built using OVM or Optimistic Virtual Machine, for scalability.

Astar

OCP introduces an innovative relayer mechanism that seamlessly connects applications to a modular permissionless custody protocol. OCP operates a protocol that acts akin to a mesh network, enabling an end-user to leverage a diverse set of key management protocols. We call this “Keychain Aggregation”. Building a protocol that solves for Keychain Aggregation not only simplifies the way developers can build, abstracting risk and complexity, but it also harmonizes and aggregates the economics associated with having multiple bilateral commercial relationships.

With OCP, we have a new custody primitive that embraces (1) modularity, in connecting key management solutions, and (2) decentralisation, in the way users can access key generation and transaction signing services. We are particularly excited to pioneer this, witnessing existing security and custody solutions struggle to adapt to the ongoing proliferation of chains. Additionally, with the impending tokenization of Real World Assets (RWAs) - potentially mobilizing over trillions of dollars into the blockchain ecosystem - the demand for versatile and modular solutions is clear and present.

Open Custody Protocol

Aurora is a product that helps Ethereum users and dApps to easily move to the NEAR blockchain. It allows users to do two distinct things: upload and interact with Solidity smart contracts on NEAR blockchain and move assets (including ERC-20 tokens) between Ethereum, NEAR and Aurora via the Rainbow Bridge..

Aurora’s base token is ETH to deliver the best user experience and familiar tooling for developers.

AURORA token is a governance token to ensure proper upgrades to the protocol.
Aurora is governed by AuroraDAO which includes representatives from different ecosystems and sectors of the blockchain industry.

Aurora

Vega Protocol provides the derivatives scaling layer for Web3. It is a custom-built proof-of-stake blockchain, which makes it possible to trade derivatives on a decentralised network with comparable experience to using a centralised exchange.

VEGA is the network governance and staking token. It is used for:

Voting on the creation of new markets on the network

Running validator nodes on the network via staking VEGA tokens

Earning fees from traders through staking and delegation

Governing important network parameters which ensure markets are secure and fair

Vega Protocol

Telos

KardiaChain is a Layer-1 blockchain designed to bridge the gap between blockchain technology and mainstream adoption by converging the physical and digital worlds. As a hybrid public-private blockchain infrastructure, KardiaChain focuses on decentralization, security, and scalability to deliver seamless Web3 solutions for real-world applications. It also powers transformative technologies like Onchain AI, and NF3 Chip Technology to further expand its ecosystem.

Key Features:

High Performance and Scalability

Utilizes the Byzantine Fault Tolerance Delegated Proof-of-Stake (BFT-DPoS) consensus mechanism for high throughput, low latency, and energy-efficient operations.
Designed to scale while maintaining decentralization and low transaction costs.

Hybrid Blockchain Model

Combines public and private chains for enhanced privacy, security, and flexibility tailored to enterprise and consumer use cases.
Phygital Integration (Kyokai Initiative)

Maps real-world components – People, Items, Locations, and Activities (P.I.L.A.) – onto the blockchain using technologies like NFC+, AR/VR, and 3D modeling.
Enables trackable and verifiable physical items (e.g., luxury goods, events, and spaces).
Connects physical assets to on-chain representations for ownership, authentication, and interactive experiences.

Onchain AI Integration

KardiaChain powers Onchain AI, a platform that merges artificial intelligence with blockchain technology. Key features include:
AI Agents: Autonomous agents capable of managing social media interactions, handling blockchain wallets, and automating digital tasks.
On-Chain Recording: All actions are securely recorded on the blockchain for full transparency and accountability.
Token Utility: AI agents operate using energy from burning $KAI, creating sustainable tokenomics.
Upcoming Features: Voice-based AI interactions, media creation, and livestreaming.

Onchain AI is a AI-driven virtual agents that manage online identities and interactions.
Capabilities include:
Automating social media engagement, content creation, and audience interaction.
Managing blockchain-based wallets with secure and transparent operations.
Monetization Opportunities: Users can earn based on engagement metrics, fostering a revenue-generating ecosystem.
Skillset Marketplace: Agents can acquire and exchange advanced skillsets, such as trading, content creation, and music composing.

NF3 Chip Technology

A phygital bridge utilizing NFC (Near-Field Communication) chips to link physical objects to blockchain-based digital assets.
Key functionalities:
Encrypted Private Keys: Ensures secure ownership validation and asset transfers.
Phone Number-Based Wallets (PNW): Simplifies onboarding and wallet management.
Interactive Phygital Experiences: Seamless real-world-to-digital interactions via simple NFC taps.
Use Cases: Digital gifting, product verification, collectibles, and consumer engagement.

Web3 Infrastructure and Ecosystem

Comprehensive toolset includes wallets, explorers, smart contract IDEs, NFT creation platforms, and analytics tools.

The platform relies on a native token, KAI, which is used for staking, transaction fees, participating in services and deploying smart contracts.

KardiaChain was first announced in October 2018, and its mainnet went live in December 2020.

KardiaChain

WOM Protocol

Web3's Decentralised Commerce Layer.
Sell physical things as redeemable NFTs, everywhere, online, in-game and in-verse.
We have solved the hard tech problems of tokenizing and twinning physical items, so you can focus on creating innovative Web3 commerce experiences for your customers.
Our no-code, low-cost tools make it easy to tokenize and sell physical products as NFTs everywhere, including your own Web3 store, the Metaverse, or on NFT marketplaces.
Redemption can be integrated into your own website, giving your brand full control of the customer experience.
With Boson, you can create phygital assets and token-gate purchases, allowing you to effortlessly develop engaging and rewarding digi-physical commerce experiences.
Buyers can redeem the NFT for the physical with the assurance that either they will receive the item or their money back- all without the need to trust intermediaries or sellers, just code and independent dispute resolvers.  Alternatively, Buyers can transfer, gift, trade or hold the NFT - just like any other NFT.
Boson is a groundbreaking technology recognized as a Technology Pioneer by the World Economic Forum. As a decentralized protocol, Boson is built for the benefit of and governed by its users. Consequently, Boson only charges a minimal 0.5% per transaction protocol fee.

Boson Protocol

Litentry

Energy Web Token (EWT) is the operational token behind the Energy Web Chain, a blockchain-based virtual machine designed to support and further application development for the energy sector.

Energy Web Chain was launched in June 2019. The Energy Web Foundation is the non-profit enterprise behind the project. EWT aims to bring diversity to the energy sector by allowing developers to create decentralized applications (DApps). The virtual machine has the potential to benefit actors from all areas of energetics, including grid operators, software developers, and vendors.