Karmada is an open-source project that provides orchestration capabilities for Kubernetes. 

It consists of three main parts: an API server, a controller, and scheduler. The API server offers a REST endpoint for resource templates and policies. Controller creates Kubernetes resource by watching resources in the API server and then communicating with the underlying clusters. And the scheduler enables users to schedule resources across clusters according to what is available.  

Key benefits include compatibility with native Kubernetes APIs, centralized management, several out-of-the-box features, the ability to avoid vendor lock-in, and multi-cluster scheduling policies. 

The latest release is v1.1.0, which was released a few weeks ago. This version added multi-cluster ingress, Federated Resource Quota, configurability improvements, and an improvement to the Resource Interpreter Webhook. 

It is currently a CNCF sandbox-level project as of September 2021. 

More information on the project is available here