Kine launches Binance Good Chain and cross-chain asset transformation [SY1] – Benzinga – Benzinga
SINGAPORE, June 10, 2021 / PRNewswire / – Kine, an innovative protocol that makes decentralized derivatives trading fast and transparent, has officially launched on the Binance Smart Chain (BSC) with a staking pool for kUSD / USDT and kUSD / KINE pairs. Kine Exchange also supports cross-chain transformation to give users access to lower gas charges. Users can switch between the Ethereum or Binance Smart Chain. On Binance Smart Chain, the equity investments include BTCB, LTC, BCH, XRP, ETH and BNB. In addition, LP farming pools with kUSD / KINE, kUSD / USDT were introduced 10 a.m. UTC on June 10th, 2021.
Kine aims to address high gas fee issues on the Ethereum network by implementing all staking features including KUSD minting / burning, rewards and LP mining [SY2] on the Binance Smart Chain. Kine has also added a new set of assets alongside the top marketcap tokens, including coins on BSC. This allows Kine to act as a bridge between BSC and Ethereum for users, while allowing Stkern to share the same universal pool of liquidity, thereby saving transaction gas costs as the fees for BSC are often less than a tenth of what they are in Ethereum Network are.
Kine has responded to the growing community with a major overhaul of its cross-chain infrastructure. Risk management will be improved with the introduction of dynamic liquidation incentives so that the updated platform can offer greater incentives for positions with a higher leverage ratio[SY3] and prioritize liquidations of high risk positions. The team has also prepared the KUSD Fixed Price Payback option, where KUSD trades can be redeemed at discounts to wager assets for arbitrage profits.
In the future, as more EVM chains and Layer 2 are implemented, Kine expects its development team to add even faster features to give all users a smoother staking experience.
Please visit our website for more information on Kine.
Via the Kine protocol
Kine is a decentralized protocol that establishes multipurpose pools of liquidity backed by a customizable portfolio of digital assets. The liquidity pool enables traders to open and close derivative positions according to trusted price feeds without the need for counterparties. Kine removes the restriction of existing peer-to-pool trading protocols (also known as peer-to-contract) by expanding the collateral space to include all Ethereum-based assets and allowing third party liquidation.
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SOURCE Kine protocol