Kintsugi KINT Price

What is Kintsugi (KINT)?

In the ever-evolving landscape of blockchain technology, Kintsugi emerges as an innovative canary network by Interlay, with a unique focus on experimentation and real economic value. Launched on October 13th, 2021, Kintsugi introduces kBTC, a 1:1 Bitcoin-backed asset on Kusama, to catalyze liquidity for parachains such as Karura, Shiden, and Moonriver. Let's delve into the key components that make Kintsugi a trailblazer in the decentralized finance (DeFi) realm.

Key Features:

1. Trustless and Decentralized:

Kintsugi's flagship product, kBTC, stands out for its dedication to being trustless and decentralized. Vaults, the backbone of the interBTC and Kintsugi bridge, play a crucial role in maintaining the 1:1 peg between BTC and interBTC. These Vaults, open to anyone, lock collateral on the kBTC parachain in various digital assets, creating a MakerDAO-inspired multi-collateral system.

2. Radically Open:

One of Kintsugi's strengths lies in its radically open nature. Anyone can become a Vault and contribute to the security of kBTC at any time. The system is designed to be inclusive, allowing users to participate in securing the network and ensuring the integrity of the 1:1 peg.

3. Multi-Collateral Insurance:

To enhance security, Vaults are backed by multi-collateral insurance. In the event of misbehavior by a Vault, collateral is slashed, and users are reimbursed. This mechanism ensures that the network remains robust and users are protected, fostering a level of trust in the system.

Governance and Utility Token:

KINT, the native utility token of Kintsugi, plays a pivotal role in the network's governance. Holders of KINT have the power to vote on protocol upgrades and determine the allocation of network resources. Additionally, KINT is used for transaction processing fees, creating a dynamic ecosystem where participants actively contribute to the platform's evolution.

Tokenomics:

The KINT token has an unlimited supply, with 10 million tokens emitted over the first 4 years. From the 5th year onwards, a 2% annual inflation is introduced. The distribution includes 70% to the community through airdrops and block rewards, 10% to a reserve for network development, and 20% airdropped to the team and early backers.

Founders:

Kintsugi is the brainchild of Alexei Zamyatin and Dominik Harz, who met during their PhDs at Imperial College London. Both pioneers in cryptocurrency research since 2015/16, they founded Interlay in 2020 to bring their groundbreaking research into practice. The team has now expanded to 18 members, bringing diverse expertise from companies like Google, Morgan Stanley, and Hyperledger.

Conclusion:

Kintsugi's commitment to innovation, trustlessness, and decentralization positions it as a frontrunner in the DeFi space. With kBTC serving as a bridge between Bitcoin and Kusama's parachains, and the KINT token empowering community governance, Kintsugi represents a compelling experiment that pushes the boundaries of blockchain interoperability. As the crypto landscape continues to evolve, Kintsugi stands as a testament to the possibilities of connecting traditional cryptocurrencies with the dynamic world of decentralized finance.

What is unique about Kintsugi (KINT)?

Kintsugi sets itself apart by introducing kBTC, a 1:1 Bitcoin-backed asset on Kusama, ensuring trustlessness and decentralization through Vaults maintained by a decentralized network and multi-collateral insurance.

Who are the founders of Kintsugi (KINT)?

Kintsugi is the brainchild of Alexei Zamyatin and Dominik Harz, cryptocurrency pioneers who, since 2015/16, have been at the forefront of blockchain research, presenting their work at major conferences.

Who are the backers/investors of Kintsugi (KINT)?

Kintsugi's initial development was supported by a 20% allocation to early backers, including the team. Notable backers come from diverse backgrounds, including experiences at Google, Morgan Stanley, Trivago, Accenture, PwC, Worldpay, and Hyperledger.

Where can I buy Kintsugi (KINT)?

You can buy Kintsugi (KINT) on Gate.io, Kraken, Bit2MeKarura Swap cryptocurrency exchanges.