🌊 Kinto’s Launch: The Arrival
Kinto is an L2 rollup designed to accelerate the transition to an on-chain financial system. It features permissionless KYC/AML and native account abstraction to solve the two biggest blockers to mainstream adoption: compliance and user experience.
Kinto has been designed to offer users a unique value proposition: a safe and KYC-compliant L2 that bridges TradFi and DeFi. Our goal is clear, but how we get there is equally important for us. Our fundamental tenet is creating an open and credibly neutral financial infrastructure.
As explained in our latest post, Kinto is preparing for its full mainnet launch in Q1 2024. Before launch, we want to onboard and reward valuable participants to the network as early as possible through Engen.
Today, the first phase of Engen is live, and the first 250 users can start setting up their Kinto account.
You can visit the site here: engen.kinto.xyz
The First Step
As a refresher, Engen will be split into four different phases. During each phase, users can complete specific tasks to earn Engen credits.
- Phase 1: 🌊 KYC Arrival — Starts on November 27th.
- Phase 2: 🛡️ Wallet Set-Up — Starts mid-January.
- Phase 3: 🛟 DeFi Rescue — Starts in February.
- Phase 4: 🥇 Capital Commitments — Starts in March.
During this first phase, The Arrival, users can create a non-custodial account and complete our user-owned KYC system to onboard into the Kinto network.
Action: Set up an account and complete the KYC process.
Reward: 5–10 Engen Credits. Earlier users receive more credits.
Users in Charge
It is worth highlighting three different vital aspects of the process:
- Kinto does not store any Personal Identifiable Information (PII), and there is no link between your on-chain account address and PII. KYC Providers like Plaid or Synaps store the PII only. Turnkey stores only the email address to help you recover one signer in case of a lost passkey.
- Kinto Accounts are non-custodial, passwordless, and gasless. Only users can access funds and will never need to pay for gas directly. In the next phase, users can complete the setup of their smart contract wallet.
- Users have a choice. They can choose the KYC provider from a curated list. As soon as Kinto launches governance, this list will be curated by KInto users.
Safety First
One of the nice side effects of having everyone KYC’ed is that we can ensure a high level of sybil resistance. That enables Kinto to create the fairest launch program in crypto thus far.
We have worked hard with our KYC partners to support as many countries as possible while prioritizing sybil resistance and the highest security for our users. During the Arrival Phase, we support ~80 countries.
You can see the whole list here.
We are working hard with our KYC partners to increase the countries included on this list at the time of our launch in March 2024.
Wave by Wave
Finally, to ensure a smooth and safe experience as we add more KYC providers, we are onboarding the users in waves.
The first wave is limited to 250 users.
🌊 Engen is here…
Engen marks the beginning of Kinto. 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, and decrease the friction and costs associated with traditional asset issuance.
If you share our vision for a secure, open, decentralized financial system, help us realize it.
Join us!
