Kine Protocol Avalanche Launch
KINE Protocol, an innovative decentralized derivatives trading platform, has been operating stably on the Ethereum mainnet for over 9 months and BSC for 6 months while Polygon for 4months. Staring from Dec 6th,2021, users will be able to seamlessly perform derivatives trading on Kine Protocol on Avalanche.
Avalanche launching Summary:
To archive the goal to expand Kine ecosystem and expand Kine multiple chain solution, we will launch on Avalanche with all staking features including staking/unstaking, kUSD minting/burning, rewards and LP mining.
· Staking Frontend: kine.finance (user can switch between ETH, BSC, Polygon and Avalanche)
· Supported staking assets: BTC, ETH, AVAX, USDT, USDC and xKine (lock Kine to get xkine)
· Qualifying LP Farming pools: KINE/USDT, kUSD/ USDT
· Staking and LP Farming begins at: 2021–12–06, 10:00am,UTC
Key Features on Avalanche:
The Utility of Kine Governance Token
KINE is Kine Protocol’s native protocol token. Avalanche Token contract address:
0xa9C1740fA56e4c0f6Ce5a792fd27095C8b6CCd87
KINE token is a utility token designed to facilitate community governance and incentivize the virturous circle of Kine Ecosystem.
During Avalanche launching, we will make sure the total Kine token circulation in market will be within 100 Million by vesting the same amount Kine Token in Ethereum.
The Utility of kUSD
kUSD is the primary stablecoin of Kine Protocol. It is accepted as the margin assets on Kine Exchange, where you can trade multiple assets with zero slippage and up to 100x leverage.
Besides trading, you may supply kUSD on Uniswap(Etherum) , Pancake (BSC),QuickSwap (Polygon) as well as Trader Joe(Avalanche) to earn KINE from our farming schemes. This allows users who did not stake on Kine Protocol to acquire kUSD and trade on Kine.Exchange, and helps growing the ecosystem.
Staking and Minting kUSD
Stakers on Avalance will be sharing the same universal liquidity pool with Ethereum , BSC and Polygon stakes. Kine exchange will act as the bridge to handle risk and reward distribution. You may find detailed staking mechanism at docs.kine.io
The staking rewards will start by 10:00am UTC , 2021–12–06 and you will be rewarded with a significant portion of trading fee income — 50% of trading fee will be distributed for Avalanche, Polygon, BSC and Ethereum stakers.180-days sustained release will be applied.
Yield Farming
Starting from 10:00am UTC, 2021–12–06, you can participate in the yield farming (liquidity mining) program and earn KINE tokens on Avalanche. To become a liquidity provider, you may supply eligible tokens for below trading pairs on Trader Joe.
You can deposit or withdraw the LP tokens at any time on the farming pools. There is no unstaking fee.
50% of trading fee will be distributed for Avalanche, Polygon, BSC and Ethereum LP stakers. Rewards are accrued based on your share of each pool and will be distributed on weekly basis while your rewards are claimable immediately after the distribution.
Cross-Chain Transfer
Cross-chain transfer is now available in Kine Exchange. Users can use Kine. Exchange to complete the transfer between Ethereum, BSC ,Polygon and Avalanche, especially for kUSD and KINE. The locked tokens on Ethereum, BSC , Polygon and Avalanche will be stored on EOA addresses controlled by Kine Exchange.
