KintoXYZKinto and the Art of Invisible Tech with Web3 Account Abstraction
Kinto is an Arbitrum Layer 2 rollup, built to fast-track the shift towards an on-chain financial ecosystem via a permissionless KYC/AML framework and native account abstraction, addressing the primary challenges of compliance and user experience that often hinder widespread adoption in the financial blockchain space. The blockchain ecosystem, replete with its revolutionary potential, is simultaneously grappling with a critical hurdle — user experience (UX). For those who can truly impact the ...
KintoXYZ🛡 Securing Kinto
Kinto is the safety-first 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: We released three security audits, our security methodology, and the process to report vulnerabilities.🥇 Safety-FirstI experienced how interconnected the industry is during my time at Babylon Finance. Learned first-hand to appreciate t...
KintoXYZWhy Kinto Is Building On-Chain KYC
Kinto is an Arbitrum Layer 2 rollup, built to fast-track the shift towards an on-chain financial ecosystem via a permissionless KYC/AML framework and native account abstraction, addressing the primary challenges of compliance and user experience that often hinder widespread adoption in the financial blockchain space. Kinto is building a blockchain with decentralized yet robust on-chain Know Your Customer (KYC) solutions designed to serve a crypto and financial industry that has, in recent yea...
L2 focused on providing safe and insured access to financial services
KintoXYZKinto and the Art of Invisible Tech with Web3 Account Abstraction
Kinto is an Arbitrum Layer 2 rollup, built to fast-track the shift towards an on-chain financial ecosystem via a permissionless KYC/AML framework and native account abstraction, addressing the primary challenges of compliance and user experience that often hinder widespread adoption in the financial blockchain space. The blockchain ecosystem, replete with its revolutionary potential, is simultaneously grappling with a critical hurdle — user experience (UX). For those who can truly impact the ...
KintoXYZ🛡 Securing Kinto
Kinto is the safety-first 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: We released three security audits, our security methodology, and the process to report vulnerabilities.🥇 Safety-FirstI experienced how interconnected the industry is during my time at Babylon Finance. Learned first-hand to appreciate t...
KintoXYZWhy Kinto Is Building On-Chain KYC
Kinto is an Arbitrum Layer 2 rollup, built to fast-track the shift towards an on-chain financial ecosystem via a permissionless KYC/AML framework and native account abstraction, addressing the primary challenges of compliance and user experience that often hinder widespread adoption in the financial blockchain space. Kinto is building a blockchain with decentralized yet robust on-chain Know Your Customer (KYC) solutions designed to serve a crypto and financial industry that has, in recent yea...
L2 focused on providing safe and insured access to financial services
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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.
To achieve this, we want to onboard and reward valuable participants to the network as early as possible. In a month, we are starting Engen, the launch program of Kinto. This program will last until the spring of 2024.
Launching a decentralized network gives ownership and voice to the participants who add value to the network, especially to the early adopters who jump in at the beginning of the journey. Kinto is uniquely positioned to create the fairest launch program ever created in crypto, thanks to its native sybil-resistant capabilities.
This blog post will explain how Engen works, how long it will last, and how users can participate in the launch of Kinto over the following months.
Typically, web3 launch initiatives suffer from Sybil attacks. Luckily, thanks to Kinto’s user-owned KYC, Kinto is Sybil-resistant by design. Engen can maximize value creation and distribution while minimizing value extraction by Sybil hunters.
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 January 15h
Phase 3: 🛟 DeFi Rescue— Starts February 7th
Phase 4: 🥇 Capital Commitments — Starts March 1st.
Engen credits will be tallied using the following formula:
Engen Credits = (Phase 1 + Phase 2 + Phase 3) * Phase 4
Max Credits per user = 2,500
Engen credits can be used for the following:
Getting priority access to products launched on the Kinto network.
Reduced fees and unique discounts on products launched on Kinto.
Cover gas costs for all transactions in the Kinto network.
Participate in the Kinto governance initiation ceremony.
Disclaimer: From the start, we also want to clarify that Engen credits won’t be tradeable for fiat or tokens. Engen credits won’t be available on exchanges.
With the disclaimer out of the way, let’s cover each phase in detail.
During this phase, users can complete our user-owned KYC system to onboard into the Kinto network. Every user in the Kinto network needs to KYC to send transactions, but the users remain in control throughout the process. To learn more about our KYC, please read this article.
Every user who completes the KYC process during this period will receive 5–10 Engen Credits.
Action: Complete the KYC process.
Reward: 5-10 Engen Credits. Earlier users receive more credits.
The users who have completed the KYC process can now create a non-custodial smart contract wallet. In plain English, users will completely control their funds without worrying about installing browser extensions, storing seed phrases, or understanding gas costs.
In other words, it’s the holy grail of a crypto experience; users get the benefits of having no intermediaries and the ease of use of a traditional fintech app user experience.
The user can set up additional keys to increase security when setting the wallet. Users will be rewarded for doing so.
Action: Create a Kinto Wallet and set it up.
Reward: 10–20 Engen credits, depending on the set-up.
DeFi users have suffered scams, rugs, and hacks in the last two years. More than $30B was lost in 2022 alone. Users lost part of their hard-earned savings in many incidents through no fault of their own. That cannot continue.
One of our core tenets is to make Kinto’s security the best in the ecosystem and protect users from lurking risks and dangers. To that end, we will offer additional rewards to users affected by exploits that occurred in the last two years in DeFi.
Action: Prove ownership of wallets affected.
Reward: 0–30 Engen credits, based on the number of exploits suffered.
In the weeks leading up to our public launch, Kinto will share the products and protocols built by our partners that will be live on launch day. Users can commit capital to these products to ensure an allocation and receive additional benefits and rewards.
Action: Commit capital to interested products.
Rewards: 1–50 Engen credits according to the following formula.
Engen will mark 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!
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.
To achieve this, we want to onboard and reward valuable participants to the network as early as possible. In a month, we are starting Engen, the launch program of Kinto. This program will last until the spring of 2024.
Launching a decentralized network gives ownership and voice to the participants who add value to the network, especially to the early adopters who jump in at the beginning of the journey. Kinto is uniquely positioned to create the fairest launch program ever created in crypto, thanks to its native sybil-resistant capabilities.
This blog post will explain how Engen works, how long it will last, and how users can participate in the launch of Kinto over the following months.
Typically, web3 launch initiatives suffer from Sybil attacks. Luckily, thanks to Kinto’s user-owned KYC, Kinto is Sybil-resistant by design. Engen can maximize value creation and distribution while minimizing value extraction by Sybil hunters.
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 January 15h
Phase 3: 🛟 DeFi Rescue— Starts February 7th
Phase 4: 🥇 Capital Commitments — Starts March 1st.
Engen credits will be tallied using the following formula:
Engen Credits = (Phase 1 + Phase 2 + Phase 3) * Phase 4
Max Credits per user = 2,500
Engen credits can be used for the following:
Getting priority access to products launched on the Kinto network.
Reduced fees and unique discounts on products launched on Kinto.
Cover gas costs for all transactions in the Kinto network.
Participate in the Kinto governance initiation ceremony.
Disclaimer: From the start, we also want to clarify that Engen credits won’t be tradeable for fiat or tokens. Engen credits won’t be available on exchanges.
With the disclaimer out of the way, let’s cover each phase in detail.
During this phase, users can complete our user-owned KYC system to onboard into the Kinto network. Every user in the Kinto network needs to KYC to send transactions, but the users remain in control throughout the process. To learn more about our KYC, please read this article.
Every user who completes the KYC process during this period will receive 5–10 Engen Credits.
Action: Complete the KYC process.
Reward: 5-10 Engen Credits. Earlier users receive more credits.
The users who have completed the KYC process can now create a non-custodial smart contract wallet. In plain English, users will completely control their funds without worrying about installing browser extensions, storing seed phrases, or understanding gas costs.
In other words, it’s the holy grail of a crypto experience; users get the benefits of having no intermediaries and the ease of use of a traditional fintech app user experience.
The user can set up additional keys to increase security when setting the wallet. Users will be rewarded for doing so.
Action: Create a Kinto Wallet and set it up.
Reward: 10–20 Engen credits, depending on the set-up.
DeFi users have suffered scams, rugs, and hacks in the last two years. More than $30B was lost in 2022 alone. Users lost part of their hard-earned savings in many incidents through no fault of their own. That cannot continue.
One of our core tenets is to make Kinto’s security the best in the ecosystem and protect users from lurking risks and dangers. To that end, we will offer additional rewards to users affected by exploits that occurred in the last two years in DeFi.
Action: Prove ownership of wallets affected.
Reward: 0–30 Engen credits, based on the number of exploits suffered.
In the weeks leading up to our public launch, Kinto will share the products and protocols built by our partners that will be live on launch day. Users can commit capital to these products to ensure an allocation and receive additional benefits and rewards.
Action: Commit capital to interested products.
Rewards: 1–50 Engen credits according to the following formula.
Engen will mark 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!
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