Kine Protocol（KINE）[Defi]

Kine Protocol is an Ethereum-based decentralized derivatives protocol for transparent derivatives trading.

Recently, the Kine Protocol development team has created a multi-chain integrated trading ecosystem, making derivatives trading convenient and user-friendly. This traction has led to a massive increase in the number of users of the Kine protocol. With a daily trading volume of around $300 million and around 7,000 daily active users, Kine Protocol is ranked 10th on CoinMarketCap’s DEX list.

After multi-chain deployment, the partnership with Avalanche will allow the Kine protocol to further scale and provide blockchain users with access to derivatives trading and cross-chain liquidity. The protocol has integrated its solutions on Ethereum, Binance Smart Chain and the Polygon network.

Introducing Knie Protocol

Kine Protocol is a decentralized derivatives protocol platform based on Ethereum. It aims to build a derivatives market with unlimited liquidity and help users conduct derivatives transactions quickly, transparently and conveniently. All transactions are supported by the industry's innovative peer-to-peer pool engine, which maximizes capital efficiency on the basis of optimal leverage through the most advanced cross-margin. At present, Kine has achieved a multi-chain layout to meet the diversified needs of users, create a multi-chain integrated trading ecosystem, and become a decentralized derivatives trading platform with the best user experience.

Simply put, Kine is a decentralized derivatives trading platform, but it is not satisfied with the realization of "monotonous" crypto-asset derivatives trading.

Generally speaking, derivatives can better meet the needs of market participants for advanced asset allocation such as higher volatility or risk hedging. Although the spot can also be used for risk management through combination, from the perspective of the entire capital market, the basis for continuous capital valuation and capital conversion will be lost, and the efficiency of capital circulation will be significantly reduced. From the perspective of financial laws, derivatives transactions are higher than spot transactions in terms of liquidity and transaction scale.

Kine, who is not satisfied with crypto-asset derivatives trading, hopes to "trade everything", and hopes to bring mainstream traders into the world of decentralized finance (DeFi) on a large scale through a more flexible and pragmatic approach.

In terms of product design, the goal of "transaction everything" proposed by Kine is very similar to the attempts made by popular DeFi protocols Synthetix, Mirror, and UMA, that is, to establish some financial assets that already have a broad enough consensus in the blockchain world. "Image" and more openly available to every market participant.

Compared with the consensus that cryptocurrencies rely on, U.S. stocks, gold, and a range of other commodities, after a long period of validation, are more likely to be recognized by traditional financial market participants and investors who are not yet familiar with the cryptocurrency world. accept. Moreover, this on-chain synthetic asset, in addition to lowering the entry barrier that has risen since Robinhood bowed to Wall Street, opens up endless possibilities for participants in the cryptocurrency world.

It can be seen from Kine's product design that Kine uses Synthetix as a teacher and adopts the "peer-to-pool" model to provide "unlimited liquidity" for derivatives in the form of DeFi. In addition, based on the existing attempts of Synthetix and Mirror, Kine has optimized the problem of high pledge rate and further improved the utilization rate of funds.

In addition, all on-chain contracts of Kine Protocol have passed the PeckSheild security audit.

Project Highlights

Kine accepts a wider variety of pledged assets, and almost all mainstream encrypted assets can be pledged, making our user base larger;

Kine supports higher leverage and higher frequency derivatives trading;

Kine adopts the funding fee and ADL mechanism to effectively reduce the net position of the platform and reduce the impermanence risk of pledge users. After observing in the past, the impermanence risk of Kine can basically be ignored for pledge users;

Kine developed a high-performance oracle to achieve real-time quotes to solve user losses caused by transaction preemption, which is currently the biggest problem facing synthetix and Hegic;

Users can stake almost any single mainstream crypto asset instead of a 1:1 trading pair, so users don’t have to be forced to buy other assets in order to get staking benefits;

Users can establish multiple asset positions by staking KUSD without changing positions to achieve multi-directional profits.

Team and Financing

Lei, the founder of Kine, graduated from Imperial College London with a major in computer science. He has more than 15 years of experience in traditional investment banking, including Merrill Lynch, HSBC, Standard Chartered, Citi and other well-known financial institutions. He is also a CFA holder. After entering the blockchain world, he served as the head of the institutional department of Huobi and has ample experience in the digital currency market.

According to Lei, Kine's founding team mostly comes from international teams from well-known traditional financial institutions such as Merrill Lynch, HSBC, Standard Chartered, and Citi, with an average of 7 years of R&D experience and more than 5 years of core team collaboration.

According to Lei, Kine's founding team mostly comes from international teams from well-known traditional financial institutions such as Merrill Lynch, HSBC, Standard Chartered, and Citi, with an average of 7 years of R&D experience and more than 5 years of core team collaboration.

KINE

• Balancer Liquidity Bootstrapping Pool (LBP): 5,000,000 KINE tokens (5%)
• Seed backers: 13,000,000 KINE tokens (13%)
• Private placement participants: 12,000,000 KINE tokens (12%)
• Team and Advisors: 20,000,000 KINE tokens (20%)
• Liquidity Partner: 10,000,000 KINE tokens (10%)
• Ecosystem Grant: 40,000,000 KINE tokens (40%)

How to use

1) Open the Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) wallet and switch the network to Polygon;

2) Click [Browser], enter [Kine] in the search box, and then click the search result; 3) Browse the Dapp information, click [Confirm] to enter the platform homepage; click [Connect Wallet];

4) Click [Connect Wallet], click [Confirm] after confirming the information, and click [Market] after the connection is successful to start trading;

5）Click [NFT] on the Dapp homepage to enter the KINE NFT page and purchase according to the transaction tutorial.