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Karak Network Logo

Karak Network (N/A)

Active Retrodrop 🔥
Total Raise: $48,000,000
Date: 13 Dec 2023 - 26 Jul 2024

Karak network is the second-largest restaking protocol after EigenLayer, with over $740M in TVL. It enables multi-asset restaking with staked ETH, WBTC, stablecoins, and more across Ethereum, Arbitrum, and Karak L2 chain networks. Karak L2 is the native network of the restaking protocol, powered by Karak’s Distributed Security Services (DSS). 

The platform’s unique approach of multi-asset restaking attracted significant attention from leading crypto funds. Since its launch in 2023, Karak network has managed to raise over $48M from Coinbase Ventures, Pantera Capital, Lightspeed Ventures and more.

❗️ ❗️ ❗ IMPORTANT:

Please note that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch isn't a financial advisor and doesn't intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

Karak Network Overview

Ticker: N/A
Country: United States
Industry: Blockchain Service
Founded: 2023
Whitelist: No
Blockchain Network: Ethereum, Arbitrum, K2 L2.
KYC: No
Bounty: Yes
MVP: Yes
Type: Equity
Security Audit: Yes

Karak Network Review

Karak network is an Ethereum restaking protocol that serves as a marketplace for developers to enhance the security of applications and other networks. 

Similarly to the EigienLayer, it enables users to provide increased security to these dApps and networks with their ETH liquid staking points and earn additional APR. However, the Karak crypto protocol has gone even further by establishing support of not only staked ETH, but also stablecoins and even Bitcoin restaking across different chain networks, such as Ethereum, Arbitrum, and K2 L2.

On February 27th, 2024, Karak announced the launch of its native risk management L2 network that leverages Karak’s Distributed Service Security (DSS). The network is designed to help developers build, test, and launch critical upgrades for their dApps and blockchain networks.

🪙 Karak token: According to the platform’s docs, its governance layer is still under construction. However, the CoinLaunch team is certain that the governance and decentralization of the platform and the Karak L2 will be achieved through the release and airdrop of its native token. Similar to other protocols such as EigenLayer, Renzo, and Swell Network, this token will most likely be the main criterion for participating in DAO voting on the Karak network.

Moreover, it is quite possible that release of Karak token and its airdrop might occur in the near future, as the trend of airdrops from restaking and staking protocols emerges. Hence, our team decided to conduct a comprehensive research of the Karak restaking protocol and prepared for you some major pros and cons of the project:

 

✅ Karak’s pros:

  • Over $740K worth in TVL achieved since the launch in 2023;
  • Great concept, design and utility of the product;
  • Good PR, SMM, Influencer and Growth marketing performance;
  • Project hosted several security audits from tier 3 companies;
  • Has an open bug bounty program (self-hosted); 
  • The top tier funds invested into the project;
  • Highly experienced founders team;
  • The project boasts a diverse network of top tier partners.

📛 Karak’s cons:

  • No tokenomics and roadmap presented by the team yet;
  • Lack of security assessments from the top tier auditors;
  • Weak marketing infrastructure;
  • Poor SEO performance. 

Karak Network Token Economy

Total Raise: $48,000,000
Total Supply:
Private/Pre-sale: (0%)
Public Sale: (0%)
Fully Diluted Valuation (FDV):
Initial Circulation Supply: (0% of FDV)

Karak Network Token Sale (ICO & IDO) Rounds

Private: Dec 2023 Past

Price: N/A
Tokens for sale: N/A
Raise: $48,000,000
Lock-Up: N/A
Retrodrop is active now! 🔥🔥🔥 Read More

Karak Network Funds and Backers
(3/7)

Submit
Coinbase Ventures logo
Coinbase Ventures
Score: Very High
16 numbers of
investment
Read More
pantera capital logo
Pantera Capital
Score: Very High
7 numbers of
investment
Read More
lightspeed venture partners logo
Lightspeed Venture Partners
Score: Very High
5 numbers of
investment
Read More
View All

Karak Network Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  23 May 2024 Upgrade

Karak Network Team

Raouf Ben-Har
Raouf Ben-Har
Co-Founder
Drew Patel
Drew Patel
Co-Founder
Victor C.
Victor C.
Chief Strategy Officer

Karak Network News

Karak Network Airdrop & Retrodrop & Bounty

Airdrop for Early Adopters
Karak Network Logo
funds
Start Date:
27 Feb 2024
End Date:
26 Jul 2024
Difficulty:
Medium
Winners:
N/A
Rewards:
N/A

Description

Karak network is an innovative restaking protocol that implements Distributed Security Services (DSS) to enable multi-asset restaking. It enables users to restake their assets, such as stablecoins, Ethereum liquid staking tokens, and even Bitcoin, providing an additional level of security to blockchain networks and dApps.

Although there’s no official information regarding the Karak token, some rumors across the crypto community suggest that the protocol may introduce and airdrop its native token to power its governance layer in the near future. 

Read More

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