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Kine Protocol Introduces Cross-Chain Asset Transformation on Binance Smart Chain Launch

Mount Equity Group Tokyo, Japan > News > Markets > Kine Protocol Introduces Cross-Chain Asset Transformation on Binance Smart Chain Launch

SINGAPORE, Jun 11th, 2021 /PRNewswire/ — Kine Protocol, an innovative protocol making decentralized derivative trading fast and transparent, has officially launched on the Binance Smart Chain (BSC) with a staking pool for kUSD/USDT and kUSD/KINE pairs. In doing so, the Kine Exchange also supports cross-chain transformation to allow users to access lower gas fees. Users can switch between the Ethereum or Binance Smart Chain. On the Binance Smart Chain, users will be able to stake mainstream assets including BTCB, LTC, BCH, XRP, ETH and BNB. LP farming pools with the trading pairs kUSD/KINE, kUSD/USDT will be open starting from 10am UTC on the 10th of June, 2021.

Kine aims to address issues revolving high gas fees on the Ethereum network by implementing all of the staking features including kUSD minting/burning, rewards, and LP mining on the Binance Smart Chain. Kine will add a new suite of assets including coins on BSC in addition to the top tokens, which allows Kine to act as a bridge between BSC and Ethereum for users. At the same time, this grants token stakers to share the same universal liquidity pool, thereby helping users saving transaction gas costs in the process as fees on BSC. These fees