Avalanche Asia Star Fund, or AVATAR, which as a strategic investment firm is focused on investing, incubating, and supporting the development of the rapidly growing ecosystem on Avalanche, recently signed a partnership agreement with Ethereum-based decentralized derivatives protocol KINE. AVATAR is going to make strategic investments in KINE to promote the rapid development of the KINE ecosystem. KINE has already completed its deployment on the open and programmable smart contracts platform Avalanche so as to harness the potential of its multi-chain ecological layout.
KINE is an Ethereum-based decentralized exchange which was developed to provide traders with zero limitation on liquidity. According to the KINE owners, the infinitely liquid marketplace would help the traders trade the decentralized derivatives easily, transparently, and quickly. All the KINE transactions are built on a peer-to-peer contract trading protocol, which increases the capital efficiency with a sophisticated cross-margining trading model with the highest leverage.
“KINE is a multi-chain ecological layout designed to meet the disparate needs of the trading community, which is growing rapidly. In addition to that, we have also created an off-chain execution engine and on-chain staking system, which reduces the trading cost while optimizing the trading experience for our users”, said Lei, Co-Founder & CEO of KINE Protocol.
According to him, KINE protocol was launched in March 2021, and since then, it has achieved impressive results. Currently, the platform has more than seven thousand daily active users and a trading volume of more than three hundred million US dollars. The protocol is already the tenth ranked DEX on cryptocurrency price tracking website CoinMarketCap.
“KINE is now focused on implementing multi-chain deployments. We have successfully completed the deployment on Avalanche or AVAX in early December 2021. We have already completed deployment on Ethereum, Polygon, Binance Smart Chain. In the last three quarters of 2021, we developed zero slippage for derivative trading, and the on-chain staking system we have developed leverages all the advantages of CeFi and DeFi. We have prioritized stability and security requirements of on-chain traders. We have a strong background in Fintech and we bring a lot of relevant experience to the table while designing the ecological deployment roadmap for optimal user experience”, the co-founder stated.
“AVATAR is accelerating the development of the Avalanche (AVAX) ecosystem by investing in and supporting innovative teams and projects. The Avalanche network will give us a solid guarantee to continue to work on Defi and create our own Metaverse. We are very excited about AVATAR and the AVAX ecosystem, and we are expanding our platform and new products into the powerful Avalanche, adding to its continued growth”, he added.
Avalanche is an open-source platform for launching decentralized financial applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem. Developers building on Avalanche can easily create robust, reliable and secure applications and custom blockchain networks with complex rule sets, or build on existing private or public subnets.
About Kine Protocol (KINE)
KINE Protocol is an Ethereum-based decentralized derivatives protocol platform designed to build an infinitely liquid derivatives marketplace and help users trade derivatives quickly, transparently and easily. All transactions are supported by the industry’s innovative peer-to-peer pooling engine, which maximises capital efficiency through state-of-the-art cross-margining with optimal leverage. To know more, visit https://kine.io.