⛩️ Engen Rewards: Kinto Allocation
Kinto is an L2 rollup designed to accelerate the transition to an on-chain financial system. It features user-owned KYC, AML, and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience.
TLDR
- Engen Holders will receive a minimum of 0.22 Kinto tokens per Engen.
- Claims start on July 1st at 3 pm PST and will last until August 15th.
- Engen Depositors who remain committed receive an extra 25% bonus.
- Engen holders will forever receive 15–20% extra rewards in the mining program.
Engen holders approved the ENIP-2: Kinto Token Governance proposal by an overwhelming majority. Consequently, the core team is deploying the Kinto token on July 1st and distributing the airdrop allocation.
🗻 Kinto Rewards
A few weeks ago, Kinto launched. It concluded the Engen journey, which started in November and finished on May 15th, 2024. Engen was designed to onboard and reward valuable network participants and bootstrap a decentralized network launch. The goal was achieved, and more than 25k users completed the four phases of Engen: The Arrival, The Setup, The Rescue, and The Commitment.
Unlike other networks, our users are unique. Kinto users are fully verified. Thanks to Kinto’s user-owned KYC, the network has unique sybil-resistant properties that ensure that launch program rewards are given to real users instead of bots and accounts that spread their holdings over hundreds of wallets.
Users who hold Engen tokens can claim their Kinto allocation on July 1st at 3pm PST.
🔢 Engen Numbers
Given the number of depositors who firmly committed to the network, we have decided to increase the allocation to accommodate their deposit bonus.
5.20% of the initial token supply will be allocated to Engen holders.
You can see all the relevant numbers below:
Total Engen Supply (- 500k admin account): 2,117,807
Total Engen holders eligible: 17,210 members
Number of Engen holders eligible for 25% bonus: 1,387 members
Bonus tokens required: 56,371 tokens
Total Kinto Tokens distributed = 520,00 tokens
Minimum Kinto tokens per member = 0.22 * ENGEN balance;🛤 Take the Golden Road to Kinto
Kinto offers safe and intuitive access to the digital & RWA assets in the Ethereum ecosystem, including Ethena sUSDe, USDe, and Mountain wUSDM.
Through the Mining Program Launch, Kinto gives depositors 2% of the token supply during on-chain summer, and as an Engen user, you get an additional 15–20% bonus.
You can take advantage of your rewards by depositing any asset on Kinto. The higher the amount deposited and the longer the deposit, the higher the rewards.
Start mining here https://kinto.xyz
We want to accelerate the transition to an on-chain financial system. A system that can match the guarantees of traditional finance, increase availability 24/7, enhance security, and decrease the friction and costs associated with conventional asset issuance.
If you share our vision for a secure, open, decentralized financial system, help us realize it.
Join us!
