⛩️ Engen Update — Launch is Coming
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 is only open for 10 more days. Join us before it is over.
- Engen has already passed $17,000,000 in TVL.
- Deposits are open until May 17th at 9 am PST. Rewards slowly decrease every week.
- On May 22nd at 3 p.m. PST, withdrawals and deposits will be re-enabled via superbridge.
- Kinto users who locked EtherFi weETH will receive boosted points, a 2x bonus, at the end of season 2 of EtherFi.
- Kinto members who locked Ethena sUSDe already received their season 1 rewards and will receive their proportional shards of season two once it concludes.
As our Engen post and update explained, Kinto is preparing for its full mainnet launch in May. We are onboarding network participants through our launch program, Engen.
Last month, we launched the previous phase of Engen, The Commitment. In this phase, users can multiply their Engen credits by locking capital in one of the four assets we offered: sUSDe, weETH, wstETH, and sDAI. These assets will compound and earn yield while they remain locked until launch.
The community’s reception has been incredible. Over 26K users have completed the KYC process and created over 25K Mamori Wallets, and more than 2K Users have contributed capital.
In total, Kinto has received over $17,000,000 in locked capital.
The numbers in Kinto are fundamentally different from all other blockchains because our numbers do not include bots, and our users are verifiably unique because of our user-owned KYC.
🕐 Final Launch is coming
A few days remain until Engen closes on May 17th at 9am PST.
The team will take a few days to ensure all users securely receive all their funds on their Kinto wallets on the L2 side.
We are partnering with Bungee/Socket to enable fast and cost-effective withdrawals & deposits from Kinto into Ethereum, Arbitrum, Base, and Optimism.
On May 22nd at 3pm PST, this new super bridge will be activated and withdrawals & deposits reenabled.
Until then, users can create an account to become founding members. New users can go through Engen’s phases: The Arrival, The Setup, The Rescue, and the Commitment.
We have again partnered with Layer3 to add a quest on their platform.
https://layer3.xyz/quests/deposit-on-kinto
🌊 The last 10 days
Engen’s end 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, enhance security, 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!
