We’re pleased to reveal the latest project to have received strategic funding from Blocksync Ventures. Kine Protocol is building a platform for decentralized derivatives trading on Ethereum and we’re proud to add them to our portfolio and support them on their journey.
Blocksync joins forces alongside other top minds and funds in the blockchain space including: Alex Pack, Naval Ravikant, CMS Holdings, Spartan Capital, Blockchain Capital, NGC Ventures, Defi Alliance, 3Commas, Waterdrip Capital and Spark Digital.
Onchain derivatives are a tough nut to crack due to the limitations of executing trades on-chain quickly, reliably, and at scale. A number of projects are developing solutions, but of the many we’ve scrutinized, Kine is the most promising so far.
Kine Protocol boasts a highly accomplished tech team that is working on bringing professional-grade trading infrastructure to defi. Kine Exchange will enable users to trade with up to 100x leverage in a highly liquid environment. Cross-margin can be utilized with any supported asset, bringing the sort of tools once exclusive to centralized exchanges to a decentralized environment.
Staking, Hedging, and a Whole Lot More
One of the things that impressed us about Kine is that they’re not just building a derivatives exchange in isolation, in hope rather than expectation that it will generate traction. Rather, its team is focused on the bigger picture, and is developing an entire defi ecosystem with a community to match. The testnet program for Kine Exchange was a great success, attracting broad participation and generating a lot of positive feedback. Following the launch of the exchange on the Ethereum mainnet, defi traders will be able to experience the future of onchain derivatives — plus a whole lot more.
Kine is also developing staking pools that accept assets such as ETH, WBTC, USDC, and other ERC20s, and will be awarding participants with staking rewards that include trading fees from Kine Exchange. Other features in the works include dynamic hedging to reduce impermanent loss.
Commenting on its investment in Kine Protocol, Blocksync Ventures founder Jasper Byun said: “Kine has one of the most capable teams we’ve had the fortune of engaging with, and their vision for decentralized derivatives is highly compelling. We’re delighted to have added Kine to our investment portfolio, and are eagerly looking forward to the mainnet launch of Kine Exchange which will bring professional trading to the world of defi.”
“We’re grateful to Blocksync Ventures for backing Kine and for buying into our vision of how defi derivatives will play out. Like Blocksync, we’re in this for the long haul, and we look forward to repaying their trust in us — and that of the Kine community — by building a best-in-class exchange for derivatives trading.”
Lei Wang - Kine Protocol Co-Founder