What is KINE Protocol (KINE) | What is KINE Protocol token | What is KINE token
Kine Protocol
Kine is a decentralized protocol which establishes general purpose liquidity pools backed by a customizable portfolio of digital assets. The liquidity pool allows traders to open and close derivatives positions according to trusted price feeds, avoiding the need of counterparties. Kine lifts the restriction on existing peer-to-pool (aka peer-to-contract) trading protocols, by expanding the collateral space to any Ethereum-based assets and allowing third-party liquidation.
For more detailed documentation on Kine protocol please check our whitepaper.
Stake and Mint
1. Stake
Connect to Kine Finance dApp, enable the token you want to stake, let’s say you want to stake WBTC.
click “Enable”, then “Use WBTC as Collateral”
Approve the transaction and wait for a bit, your WBTC will be enabled. Now click “Add”
Approve WBTC for staking
Approve the transaction and wait for a bit, the approve button will change to “STAKE”.
Now input your staking amount, or click “Max” to stake all the token balance. Then click “STAKE”
Approve the transaction and wait for a bit, your staking value will increase.
2. Mint kUSD
Mint kUSD now that you have spare staking value.
80% is the predefined max percentage that you can mint into kUSD from your staking value. Input amount then click “MINT”
Approve the transaction and wait for a bit, you will be able to see your kUSD balance increased and available for wallet transfer. Click on the “+” button to add kUSD or Kine to your wallet.
Trade on kine.exchange
Why trade on Kine Exchange?
Up to 100x Leverage
Users can trade with up to 100x leverage, while enjoying 24/7 guaranteed liquidity and transparent fees.
Cross Margin on Any Asset
Virtually any asset can be supported by the peer-to-pool engine, whether it’s BTC, ETH, altcoins, gold or fiat. Kine also supports state-of-the-art cross margining, maximizing capital efficiency.
Zero Slippage and Guaranteed Execution
Every trade will be executed against real-time price feeds with zero slippage, guaranteed by our over-collateralized liquidity pool.
1. Login to Kine exchange and deposit
Connect to Kine exchange: https://kovan.kine.exchange
Metamask users can connect directly without registration. By clicking “Connect with Metamask”, you will be asked to sign a message (no gas consumption) and you will be logged into kine.exchange within a few seconds. Email/mobile signups will be supported at a later stage.
“Balance” tab shows your assets in each account of the trading platform. Click “Deposit” to get your deposit address. You may transfer your kUSD to the given address, like most crypto exchanges. Your token balance will be updated after 12 blocks’ confirmation.
2. Start to trade
To start trading, transfer kUSD to Cross Margin account.
You may select asset, check its price movement and funding rates at the top-left section.
Check account equity, asset, debt, leverage liquidation price (Isolate mode asset only) and place order:
Check order history:
Account transfer history at “Balance” page.
3. Check platform realtime data
4. Join the Affiliate program
5. Enhance account security
6. Download app and scan to login
Currently only on Android
Scan QR code to login with app
Burn and Unstake
1. Burn your debt
Connect to Kine Staking dApp, click “Burn”, note that you have to wait for at least 45 min to burn debt after minting kUSD.
Input the amount kUSD you want to burn, and then click “BURN”. “Max” will burn all your kUSD balance or 100% debt.
Once the transaction is approved and mined, your debt value will decrease by the kUSD amount you have just burned.
2. Unstake asset
Click “Add” to manage your staking assets, and highlight “WITHDRAW”.
Enter the withdraw amount, “Max” will fill all of the staking asset available for withdraw, up to the amount that your outstanding debt allows.
Approve the transaction and wait a bit, your wallet balance will increase by the amount you just withdrawn.
Claim Rewards
Click “CLAIM” to get your claimable rewards
Approve the transaction and then your Kine balance will increase by the amount you just claimed.
Participants of Kine Ecosystem
In Kine ecosystem, there are several major roles in play.
1) Stakers
- Stake crypto assets and mint kUSD to receive KINE rewards, which are composed of trading fee distribution and token incentives .
- Passively bear the liquidity pool’s exposed risk, profits when traders take loss as a whole and vice versa.
2) Traders
- Trade on Kine exchange, enjoy zero slippage, leveraged cross margin trading experience on crypto + non-crypto assets.
- Pay trading fees which are ultimately rewarded to stakers.
3) Liquidators
- Pay back MCD debt by kUSD on behalf of insolvent stakers.
- Help protecting the liquidity pool from under-collateralization.
- Cease an amplified portion of staked assets upon successful liquidation, which can be realized into immediate profits.
KINE Token Model
KINE is Kine Protocol’s native protocol token, currently issued on Ethereum following ERC-20 standard.
Token contract address: 0xCbfef8fdd706cde6F208460f2Bf39Aa9c785F05D
The KINE token is a utility token designed to facilitate community governance and incentivize the virturous circle of Kine Ecosystem.
Token Specs
Token Name: Kine Governance Token
Token Ticker: KINE
Token Type: ERC-20
Token Supply: 100,000,000
Token Utility
Governance
Once mature, Kine will gradually transition to community governance, allowing the community to decide the future of the protocol. KINE token holders may stake their KINE to vote on or propose new ideas to improve Kine Protocol. Some of such decisions could be:
- Addition/removal of staking assets on Kine.Finance
- Addition/removal of trading assets on Kine.Exchange
- Protocol parameters such as collateral factor, supply cap, risk limits.
Staking
- KINE is accepted as a staking asset of liquidity pool.
- KINE stakers to receive a dedicated share of fee pool, allowing higher return than other collaterals.
- Trading fee revenue from Kine.Exchange will be converted to KINE before being distributed as rewards.
- Long-term KINE stakers will accumulate more voting power for governance.
Token Distribution
- Balancer Liquidity Bootstrapping Pool (LBP):
- 5,000,000 KINE tokens (5%)
- Initial DEX Offering in the form of LBP in March 2021
- Seed supporters
- 13,000,000 KINE tokens (13%)
- Sold at $0.20
- Tokens are vested; 10% unlocked after IDO; see release schedule below.
- Private-sale participants
- 12,000,000 KINE tokens (12%)
- Sold at $0.50 - $1.00
- Tokens are vested; 25% unlocked after IDO; see release schedule below.
- Team and advisors
- 20,000,000 KINE tokens (20%)
- Team helps launch the initial version of Kine Protocol and future upgrades.
- Tokens are vested; Unlock begins 6 months after IDO; see release schedule below.
- Liquidity partnership
- 10,000,000 KINE tokens (10%)
- Strategic market liquidity providers with mandates to maintain orderly secondary markets for KINE, kUSD and related underlyings.
- Tokens are vested in 12 months; 25% unlocked prior to initial listing; see release schedule below.
- Ecosystem Grant
- 40,000,000 KINE tokens (40%)
- Ecosystem Grant with the mandate to grow and promote Kine Ecosystem.
- Tokens are released over a period no less than 48 months; further details to be announced.
Token Release Schedule (excluding Ecosystem Grant)
- Balancer Liquidity Bootstrapping Pool
No lockup – tokens are liquid upon purchase.
- Team and advisors
🔒 🔒 25% to be unlocked 6 months after IDO; the remaining 75% vested linearly over the next 18-month.
- Seed supporters
🔒 10% to be unlocked immediately after IDO; 60% to be vested linearly over the next 12-month; the remaining 30% to be vested over the 2nd year.
- Private-sale participants
🔒 25% to be unlocked immediately after IDO; 75% to be vested linearly over the next 12-month.
- Liquidty partners
🔒 25% to be unlocked prior to initial listing; the remaining to be unlocked in monthly batches in the next 12 months.
source : https://www.youtube.com/watch?v=ltci58bz-X4
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How and Where to Buy KINE Protocol (KINE)?
KINE has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy KINE
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since KINE is an altcoin we need to transfer our coins to an exchange that KINE can be traded. Below is a list of exchanges that offers to trade KINE in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase KINE from the exchange.
Exchange: Bibox, Balancer, LBank, and DODO
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once KINE gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information KINE
☞ Website ☞ Explorer ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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