Kusama

Kusama is a public Layer 1 blockchain that runs the same codebase as Polkadot and serves as a live, experimental testing ground for features and upgrades intended for eventual deployment on Polkadot. It is designed for developers and early-stage projects that want to build and stress-test applications under real economic conditions before committing to the more stability-oriented Polkadot network. The network is community-owned with no central shutdown mechanism, meaning it persists as long as its participants choose to maintain it.

Kusama falls within the Proof of Stake category, meaning validators are selected based on staked KSM tokens rather than computational work, and those tokens also confer governance rights over protocol decisions. The network is structured to support parachains, which are independent blockchains that plug into Kusama's shared security and interoperability infrastructure. KSM is the native token used for staking, governance voting, and bonding slots for parachain connections.

The data stored for Kusama does not include a fee revenue stream, so fee-based measures such as protocol income or fee yields cannot be calculated from the information on this page. What the data does show is a circulating supply of 19,003,451 KSM at a price of 4.20 USD, giving a market capitalisation of approximately 79,887,621 USD at point-in-time. The fully diluted valuation-to-market-cap ratio is essentially 1.0 and supply issued stands at approximately 99.997 percent, indicating that almost all KSM that will ever exist under the current schedule is already in circulation, with a remaining dilution overhang of roughly 0.002 percent.