LocalCoinSwap is pleased to announce that we are working with the community-led Kusama Treasury DAO to implement LocalCoinSwap’s non-custodial trading technology on Kusama. As a successful grant recipient, we look forward to helping drive the adoption of Kusama’s next-generation sharded blockchain platform technology. The LocalCoinSwap development team is increasing the utility and capabilities of the Kusama network by expanding the LocalCoinSwap P2P platform to support the trading of KSM across global jurisdictions.
LocalCoinSwap (LCS) is a peer-to-peer cryptocurrency exchange - a decentralized marketplace that supports a wider variety of cryptocurrencies, and more payment methods than any other P2P platform. Users can buy and sell Bitcoin, Ethereum, stablecoins, and more, utilizing secure and non-custodial technologies.
The LocalCoinSwap team has already successfully built and launched a world-class platform to allow P2P trading for many mainstream digital assets. In addition, LCS is a community of tens of thousands of users, members, and P2P traders that value the blockchain fundamentals of decentralization, privacy, and freedom.
Polkadot is a scalable sharded chain and the first protocol that provides a secure environment for cross-chain composability across multiple shards. Kusama is an early, unaudited, and unrefined release of Polkadot. Kusama will serve as a proving ground, allowing teams and developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination, and validation functionality in a real environment.
To learn more about Kusama, visit the Kusama or Web3 Foundation websites.
LocalCoinSwap is one of the first projects successfully approved through the Kusama treasury process. The LCS development team will be working on building out the open-source functionality in the Kusama protocols and libraries to allow decentralized, secure, and unrestricted value exchange via multi-signature P2P trading.
After completing the initial milestones expanding the capabilities of the Kusama protocol, LocalCoinSwap will then work to integrate the trading of Kusama directly into the Peer-to-Peer exchange. This will put LocalCoinSwap in position to be the first P2P platform to enable users to enter and exit the Kusama ecosystem utilizing 160+ local fiat currencies. All platform users will be provided with easy to manage, non-custodial KSM wallets where they will be in complete control of their private keys and funds at all times. In addition, this integration will create a system that incentivises users to set up businesses and generate income from providing liquidity for KSM.
Given the parallelism between KSM and DOT, LocalCoinSwap will have eyes on a Polkadot integration in the future...