The crypto derivatives market is becoming crowded as numerous protocols are starting to offer a broad variety of instruments to both retail and institutional investors. However, almost all exchanges suffer from high gas fees associated with the lagging throughput of the leading blockchain networks. In addition, slippage remains a serious issue that is robbing market participants of potential incomes as blockchain trade executions slow and traders receive a different trade execution price than intended.
The Kine Protocol is offering a breakthrough solution to the issues hampering the development of the DeFi derivative market and the effective activities of its participants. The protocol is focused on providing value to DeFi users by guaranteeing the absence of slippage, and zero gas fees.
The decentralized Kine Protocol establishes general-purpose liquidity pools backed by a customizable portfolio of digital assets. The liquidity pool allows traders to open and close derivatives positions according to trusted price feeds, avoiding the need for counterparties. Kine lifts the restriction on existing peer-to-pool and peer-to-contract trading protocols by expanding the collateral space to any Index-based assets and allowing white list liquidation.
Having successfully closed a $7 million financing round led by Alex Pack and Naval Ravikant, Ascensive Assets, OK BlockDream Fund, CMS Holdings, Spartan Capital, Blockchain Capital, NGC Ventures and others, Kine launched the mainnet on the Ethereum network and extended its multi-chain solution onto Binance Smart Chain and Polygon.
Apart from zero gas fees, the Kine Protocol offers numerous innovative trading solutions, such as avoidance of depending on individual liquidity pools like the AMM model and simplification of the process of adding new assets by extending the list of tradable assets outside crypto space. Zero slippage and trade execution are guaranteed by being executed against real-time price feeds covered by an over-collateralized liquidity pool. Kine also offers up to 100x leverage and cross-margining by incorporating synthetic funding rates and auto-deleveraging features from CeFi.
With traders across decentralized finance markets losing considerable sums on high gas fees and slippage in light of DeFi and NFT market heat-ups, the innovative solution provided by the Kine Protocol can become an important alleviator of the issues. Other value offerings include a host of additional functions, such as staking and portfolio management operated by a high-performance oracle that sources real-time quotes from major exchanges with less than a millisecond of latency.