Recap: AMA with Kine Protocol
On 21/12/2021 at 2:00 PM (UTC), an AMA session was held on HurricaneSwap with special guest Gregor, CEO & Co-founder of Kine Protocol. The following is a summary of the content of the entire AMA.
Host | HurricaneSwap
Today, we’re going to do an overview of this promising project. Now, let’s give a warm welcome to our esteemed guest, @lei_kine , the CEO of the Kine team.
Btw, in today’s AMA, we would select 2 Twitter questions and 3 live questions. Each will be rewarded with $15 in KINE and 1 blind box!
Part I Introduction to Kine Protocol
Host | HurricaneSwap
To begin with, would you please give a brief introduction of yourself, core team and Kine Protocol？
Lei | Kine Protocol
I am Lei, co-founder and CEO of KINE, graduated from Imperial College of Science and Technology with a master degree in Computer Science. I have over 15 years of experience in traditional investment banking and is also a CFA holder. I was the head of the institutional division of Huobi and led the institutional division of Huobi to launch a series of innovative products including quantitative treasury and has ample experience and unique insights into the crypto market.
KINE’s core team consists of development engineers from the traditional financial markets such as Merrill Lynch, HSBC, Standard Chartered and Citi.
Team members are all equipped with solid R&D experience and crypto trading experience. Other than that， the core team has been collaborating for more than 5 years.
KINE Protocol is an Ethereum-based decentralized derivatives protocol designed to build an infinitely liquid derivatives marketplace and help users trade derivatives fast, transparently, and conveniently.
All transactions are supported by the industry’s innovative [Peer-to-Pool] engine, which maximizes capital efficiency based on optimal leverage through a state-of-the-art cross-margin function.
KINE has achieved a multi-chain layout to meet the diversified needs of users and create a multi-chain integrated trading ecology, making it the decentralized derivatives trading platform with the best user experience.
Host | HurricaneSwap
Wow, very impressive. We’d love to know more about the KINE Protocol.
Kine Protocol has been running for 9months, would you like to share the progress that Kine has made?
Lei | Kine Protocol
Sure. Here is the operation data we have achieved over the last 9 months:
We accumulated $44B in trading volume and our 30-day active users have reached a new high close to 7000.
In addition to this impressive achievement in the derivatives trading market, KIINE was also one of the winners of the Binance Smart Chain #MVBIII Monthly Star in September.
Host | HurricaneSwap
I can see you’ve achieved quite a lot in merely nine months. Great job guys!
Our next question is: Would you please share the important updates and announce upcoming campaigns with us？
Lei | Kine Protocol
Product-wise we are going to launch our new version to provide Kine.NFT for all users to enjoy trading fun with Kine Protocol.
Market wise: our South Asia and middle east market expansion have started by working with local institutions and KOLs.
Kine Ecosystem building: as one of our important and significant ecosystem expanding roadmap, we have launched Avalanche this month. Now Kine Protocol supports major chain networks including Ethererum\BSC\Polygon and Avalanche. All of the Kine users can use Kine to trade and transfer your assets across chains
Last but not least， Kine Protocol ‘Trading Fun’ 🔥Xmas Special Event has kicked off with the community warming up this week. 📈Trading+📦Blind Box+ 🃏token card NFTs Event will launch 🔜. Way to join our community Blind Box Lucky Draw:https://gleam.io/competitions/QwTMO-trading-fun
Host | HurricaneSwap
We noticed that you mentioned Kine Protocol ‘Trading Fun’ 🔥Xmas Special Event will be launching soon. I’m sure our community members here would be interested in this. Coud you tell us what is the event about?
Lei | Kine Protocol
I think a lot of you are familiar with ‘trade mining’. Now comes to our innovation event ‘Trading Fun’ which you can achieve ‘trade to earn’ on Kine Protocol.
After users trade on Kine, they will be rewarded a Blind Box which contains 1 NFT token card. The combination of trading and NFTs allows all “enthusiasts” to share ownership. While accelerating the circulation of NFTs, allowing NFTs to generate different premiums, and ultimately forming a large economic ecosystem.
For Kine users, redeeming the blind box allows for the extraction of NFT Token cards. Users can directly burn NFT Token Cards into corresponding cryptocurrency Tokens for direct gain. Users can also collect NFT cards to get collection NFT cards to gain additional Kine Token rewards. Swapping NFT Token Cards in Kine NFT Playground will allow you to accelerate the collection NFT card forging.
More details can find on our medium:
https://medium.com/@KineProtocol/kine-trading-fun-christmas-event-b2fb05a18c36
Host | HurricaneSwap
Trading+Blind Box+NFT is very innovative. Could you tell us how we can participate in this?
Lei | Kine Protocol
Yes, from Dec 23rd to Jan 23rd, Kine will open Kine NFT market. Users can acquire blind boxes containing NFT token cards through trading.
The objective of this event is to have more people participate in trading through the Kine Protocol. The users who complete a min $10 deal will gain a blind box that can draw for NFT token cards. Furthermore, users can get up to 1 ETH after joining the Kine NFT platform and acquiring extra Kine tokens by forging non-fungible token cards now or at a future date.
Achieving a higher trading volume will yield a higher level of the blind box for the user. Higher-level boxes will have better chances of delivering a high-value NFT token card.
Also, another fast pass to get our brand new Blind Box is to join our community activity. We will give away 1000 Blind Boxes to all of our friends. who will also be the 1st batch user to collect our Blind Box on D1.
Host | HurricaneSwap
Thanks for giving such a detailed explanation of this! Now let’s jump into the exciting panel session!
Part II Panel
Symington | HurricaneSwap
For some people may don’t know, Kine is actually one of our investors, so firstly I wanna say thank you! It’s a pleasure to have this conversation with you pal.
Lei | Kine Protocol
Helping founders like me to start something amazing has always been one of my goals.
Host | HurricaneSwap
So the question for today’s panel is:
Kine and Hurricane are both decentralized trading platforms, while Kine is more like to focus on the derivative markets and Hurricane provides a new solution of cross-chain. I can see Kine and Hurricane are not competitors, but, how about other DEXs? What do you think of your competitors? What makes Kine and Hurricane different?
Symington | HurricaneSwap
Yes, of course, Kind and Hurricane are not competitors. And actually, I see a lot in common between us. We are both innovative and always wanna bring something new and creative to our users. And maybe that’s the most important thing which makes us different from other competitors.
Lei | Kine Protocol
Kine is already the derivative dex with top volume over the last 9 month, the only Dex can compete is likely dydx, and the real competation comes between DEX and CEX and we need all decentralize supporter’s participantion to win, on that front Kine and Hurrican will fight together. The competation will last for years but I have faith we will win eventually
Host | HurricaneSwap
Absolutely. Creativity is always the key element of success.
Symington | HurricaneSwap
I totally agree with you that the real competition is about how we gonna fight with CEX.
Lei | Kine Protocol
I agree with you, compare to CEX, Kine and Hurricane are much more innovative and with much more passion for our creation. And community supports us with passion and love for the product, it’s rare for CEX to have a community like this. Most of our product improvement actually came from the community.
Symington | HurricaneSwap
But for now, CEXs still have their huge advantages and it’s a long way to go. For Hurricane, at this stage, we even would like to build a CEX-like trading experience for our uses.
And speaking of competitors, we are not trying to “kill” anything, we just provide a better option for users.
Lei | Kine Protocol
It’s a long way to go but with DEX’s safety, transparency, integrity guarantee, as long as our user experience is comparable, it’s not a hard choice for users
Symington | HurricaneSwap
So it’s important for us to focus on what we’re doing and what kind of problem we are solving, not competitors.
Lei | Kine Protocol
Ture, in racing, racers don't always look at other racers, just focus on doing the right thing and put users&community at the heart of everything we do
Symington | HurricaneSwap
Exactly, users and the market will make their choices.
Host | HurricaneSwap
Thank you guys for your amazing answers! I’m sure with some time and effort, together we can really make a difference!
Part III Questions on Twitter
Host | HurricaneSwap
Now let’s dive into the third part and ask the 2 questions from Twitter.
@BenliBenli12
What projects do you consider competitors and what differentiates you from them, if there are any?
Lei | Kine Protocol
Dydx is a strong competitor, compare to Dydx, Kine adopted a more advanced liquidity model, which allows us to offer: to provide unlimited liquidity, 0 slippage and immediate execution and support over 100x leverage for traders without the restriction of market maker or order book.
Peer-to-pool liquidity model guarantees execution with very minimum slippage (even lower than most CEX), and 100X leverage is the first in Derivative DEX
Kine uses a hybrid approach that allows gas to be only consumed for staking and margin transfers but not for trading activities, which solves the biggest disadvantage of DEX and brings the trading cost to the same level as CEX
Dydx adapts the similar hybrid infrastructure, except the liquidity is still based on the order book and needs active market maker support, it solves the gas fee problem but liquidity and slippage are still a big issue for them. I believe that with our success, many more solutions are going to follow in our footsteps soon.
Host | HurricaneSwap
Can’t wait to see more happen in the future. Alright, moving on to the next question:
@PelageiaZeleni1
It’s about safety and security, I want to know how the team resolves if there is an unfortunate security problem? Has the team thought of a solution to the KineProtocol problem !!
Lei | Kine Protocol
Kine Protocol is audited by PeckShield, we take security as our top priority at all times, each time we see an attack in DeFi world, we analyze it carefully and even try to attack Kine with the method to find a vulnerability if we find a risk we quickly make improvement to prevent it from happening. Kine has been running safely for about 9 months, and all the attack mechanisms that we know don’t work on Kine, so it is very safe.
we handle 10s of thousands of orders every day and a few thousand of users use it simultaneously, haven’t encountered any successful attack or security issue, I and the team has been working in investment banks for years, risk management is in our DNA.
Part IV Live Questions
Host | HurricaneSwap
Now, last but not the least, I’m going to unmute the room for a couple of minutes and let Lei pick 3 magical questions from our enchanting community.
Q1 @ArlindaTrent
IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell?
Lei | Kine Protocol
Kine uses 70% of revenue to buy back tokens from the market, it always has a solid cashflow support that is what makes Kine different from project completely relys on marketing, when the price is low, we tend to buy largely from the market.
Q2 @carisa_mcfadden_1996
NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?
Lei | Kine Protocol
The traditional old-school trading mining in Defi industry has been running out of potential, as Kine we still want to reward our loyal communities, so we are exploring for a more playful and innovative experience along the way. here comes our blind box NFTs. Kine users will be able to get blind box and NFT token cards as trading rewards.
One of our visions for the KINE Blind Box NFT‘s future is to partner/Interact with all kinds of projects- all of the project tokens can be included into our NFT scheme. Those who trade on KINE EXCHANGE will therefore be introduced to those projects as well
Q3 @minhha198
At the next Christmas event, I read that increasing trading volume will increase the level of the user’s blind box. What do the different levels of blind squares represent? What rewards can I get depending on the level of the box?
Lei | Kine Protocol
Yes to reward the loyal users who trade more on kine while we make sure everybody gets a box, we will also give better reward to loyal users, the higher level box has a greater chance for a better reward, which means if you trade more with kine the chance you get more valuable reward e.g. Eth, BNB, etc increases.
6 levels of Blind boxes will be distributed based on T+0 trading volume.
Achieving a higher trading volume will yield a higher level of the blind box for the user. Higher-level boxes will have better chances of delivering a high-value NFT token card.
Every NFT token card represents a cryptocurrency token. We have put together a collection of 19 different tokens to be included in this special Christmas event.
Each Blind Box contains one of the following NFT token cards: ETH, BCH, BNB, COMP, LTC, AXS, AVAX, FIL, ETC, DOT, LINK, UNI, EOS, ADA, MATIC, XRP, DOGE, TRX, SHIB
Burning, swapping or forging NFT token cards to get corresponding cryptocurrency tokens. Extra KINE rewards will be distributed to Collection Card NFT.
About Kine Protocol
Kine is a decentralized exchange with staking on chain, and 0 gas fee,0 slippage for derivative trading. The peer-to-pool model provides trader a market with no limitation on liquidity or underlying. Kine on ETH and BSC is already live, support for Heco, Polygon and OEC coming soon.
About HurricaneSwap
HurricaneSwap is the 1st cross-chain liquidity DEX based on Avalanche. With the innovative LP-Bridge mechanism (Roke Protocol), users can trade popular assets of other chains without leaving Avalanche. Taking advantage of Avalanche, HurricaneSwap provides users with a high-performance, low slippage, low cost, and seamless cross-chain trading experience.
