SINGAPORE, Sep 1, 2021 – (ACN Newswire) – Kine Protocol has partnered with Polygon to bring high margin, cross-chain derivatives trading to the Polygon Network for further scalability and increased user adoption.
Kine Protocol makes cross-chain asset transformation between Polygon, Binance Smart Chain and Ethereum network possible with lower gas fees, assuaging concerns about increasing gas fees on the Ethereum network. Accepted assets for staking include BTC, MATIC, BNB, Kine, BTC/ETH Quick LP, USDC/ETH Quick LP, MATIC/ETH Quick LP with Kine dAPP managing risk and distributing rewards.
Sandeep Nailwal, Co-Founder of Polygon, said, "The launch of Kine Protocol is yet another example of the world's brightest blockchain developers choosing Polygon as the foundation for their innovations. We're excited to facilitate frictionless experiences so users can experience the future of derivatives trading on Kine Protocol."
Kine Protocol's team has extensive experience in derivatives trading, with previous roles at HSBC and Merrill Lynch. By deploying general-purpose liquidity pools, Kine's DeFi protocol facilitates fast, transparent derivatives trading without the presence of counterparties.
Lei Wang, CEO and Founder of Kine Protocol, said, "We look forward to growing the Kine Protocol community through Polygon and supporting Polygon's mission to bring blockchain infrastructure to the masses."
With Polygon's full-stack Ethereum scaling solution, tens of thousands of Polygon users can log on at the same time to open and close derivatives positions without counterparties.
Polygon's high-speed and low-gas infrastructure makes Kine's features – including staking, minting, burning, rewards, and liquidity farming – even faster, providing a frictionless experience for all users.
About Kine Protocol
Kine is a decentralized protocol that 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 restrictions on existing peer-to-pool (or peer-to-contract) trading protocols by expanding the collateral space to any Ethereum-based assets and allowing third-party liquidation.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon's scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns, and ~13.5M+ unique users.
If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure txns for your Dapp, get started here.
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