Kine Protocol: Mainnet Launch
We have deployed core Kine Protocol contracts on Ethereum mainnet. Users can stake assets to mint kUSD and start receiving KINE rewards from March 24. You may find detailed staking mechanism at docs.kine.io.
Brief Summary:
- Staking Frontend: kine.finance
- Supported staking assets: ETH, WBTC, USDC, USDT *
- Qualifying LP Farming pools: ETH/KINE, ETH/kUSD, USDT/kUSD
- kUSD Minting begins at: 2021-03-24, 04:00 UTC
- Rewards begins at: 2021-03-24, 06:00 UTC
* KINE staking to be supported shortly after.
The Risks and Rewards of Minting kUSD
Please note: you need to stake assets and mint kUSD to earn rewards. Your share of the pool is proportional to the kUSD you minted.
By minting kUSD you are participating the liquidity pool supporting Kine Exchange, and share the profit and loss of the peer-to-pool system. In return, you will be rewarded with a significant portion of trading fee income (50%), plus token incentives from Kine Ecosystem Grant.
The staking rewards will start on March 24, 6:00 UTC and the initial token incentive is 20,000 KINE per week.
The Utility of kUSD
kUSD is the primary stablecoin of Kine Protocol. It’s accepted as the only 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 and other DEX 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.
The Kine Ecosystem Grant has a mandate to promote kUSD’s adoption beyond Kine.Exchange. It will achieve the goal through yield farming, developer grants, strategic partnership and venture investments.
Yield Farming
Starting on March 24, 6:00 UTC, you can participate in the yield farming (liquidity mining) program and earn KINE tokens. To become a liquidity provider, you may supply eligible tokens in equal values for below Uniswap trading pairs:
- ETH/KINE to share 10,000 KINE per week
- ETH/kUSD to share 5,000 KINE per week
- USDT/kUSD to share 5,000 KINE per week
You can deposit or withdraw the LP tokens at any time on the farming pools. There is no unstaking fee.
Rewards are accrued based on your share of each pool and can be claimed 7 days after your first deposit. There is a 7-day claiming cooldown period after each claim. Deposits and withdrawals are not affected by cooldowns.
The farming pools and rewards will be reviewed on a weekly basis. Updates will be communicated through our Medium, Twitter, Discord and Telegram channels.
