summary: Kine Protocol is an ERC-20 native cryptocurrency token issued atop the Ethereum Blockchain.
content: Kine Protocol (KINE) (Launched March 2021) is an ERC-20 native cryptocurrency token issued atop the Ethereum Blockchain to be utilized within the Kine protocol's ecosystem. Kine protocol is a decentralized protocol that employs the function of the blockchain to be a fast and transparent ecosystem, introducing an effortless way to trade derivatives on the Ethereum blockchain. Company Kine Protocol (KINE) is a Cryptocurrency-Blockchain project created by its mother company, KINE Technology Ltd. KINE Technology Ltd (Founded on the 15th December 2020) is an innovation-driven FinTech and blockchain company located in Singapore, offering Information Technology and Financial Services . The ecosystem has rightly designed its project, i.e Kine Protocol, as a DeFi (Decentralized Finance) Derivatives trading protocol, issued on the Ethereum blockchain. Team Members KINE Technology Ltd has its members of employees' number ranging between 11 and 50 persons from different places and functional inputs to assure the ecosystem its pursuit. KINE Technology's Founder and CEO is Lei Wang while Lewei (Jerry) Li partners with the company as its co-founder and also helps to craft DeFi (Decentralized Finance) products. History & Backstory Kine Protocol's core team has been in the derivatives business for a while. Between 2019 and 2021, the ecosystem's founders led Huobi's institutional business, which is one of the largest Cryptocurrency trading businesses, in the world. Before the Kine team delves into cryptocurrencies, its team has spent the previous 5 years working at major investment banks which includes Merrill Lynch, HSBC, and Citigroup. Kine's core team excitedly incorporates its exquisite expertise across traditional finance and the crypto-native centralized trading platforms to the world of DeFi (Decentralized Finance). With an interest in delving into DeFi (Decentralized Finance), Kine Protocol has spent the past 2 years learning and participating in the space and is convinced that DeFi (Decentralized Finance) will disrupt not only Centralized Finance (CeFi), but the entire financial system. Having witnessed pioneers like Uniswap (v2) and Compound revolutionize token trading and lending, Kine Protocol believes that, finally, the time to do the same to the derivatives market. Dashboard Kine Protocol's dashboard introduces such a simple User interface that its users can utilize without complications. The Kine dashboard indicates a broad overview of varieties of data- including MCD (Multi Collateral Debt) Market Value, MCD Price, amount of asset a user has, and the entire Kine circulating market value. Overview Kine Protocol is a decentralized protocol that enshrines a general-purpose Liquidity pool, backed by a customizable portfolio of Digital assets. This Liquidity pool allows traders to open and close derivatives positions according to trusted price feeds, avoiding the need for counterparties. This project, Kine Protocol, exists to remove the limitation on existing peer-to-pool (i.e peer-to-contract) trading protocols, by expanding the collateral space to any Ethereum-based assets and allowing third-party liquidation. As consistent with the traditional financial markets, derivatives trading volumes far exceeds spot. Kine's core team believes that this is inevitable in DeFi too, assuming that the right infrastructure is built. This is where Kine Protocol is introduced into DeFi as a derivatives trading platform where any asset (which includes cryptocurrencies or non-crypto currencies), can be traded with up to a 100x leverage. Kine offers traders a Centralized Finance (CeFi)-like trading experience, complete with low gas costs and significantly better economics for Liquidity Providers (LPs). To design the Kine Exchange, Kine's team initiated what is called a peer-to-pool model (e.g. Peer-to- smart-contract), quite similar to protocols like Compound Finance and Synthetix. This came to bear after the core team had spent months identifying all the possible shortcomings to the model when applied to the decentralized derivatives market. Retrospectively, with the strategic interest of Kine Protocol in the DeFi (Decentralized Finance) multi-verse, DeFi itself will attain a quantum leap forward, making the Ethereum blockchain have derivative markets that support limitless synthetic assets that millions of traders can use. This project also aims to close the gap between the DeFi (Decentralized Finance) trading experience and the CeFi trading experience for derivatives, such that DeFi (Decentralized Finance) will now have the same functionality as leading CeFi trading platforms, resulting in more and more traditional cryptocurrency traders and even non-crypto traders being on-boarded into the DeFi (Decentralized Finance) ecosystem. Features Having built Kine Protocol as a fast, transparent, and effortless way to trade derivatives on Ethereum, the ecosystem has designed and implemented novel solutions based on its learnings from TradFi and CeFi and is offering the following improvements as the ecosystem's primary feature: More Tradable Assets: Kine Protocol's Automated Market Maker (AMM) model works well for spot trading but has serious problems when it comes to exotic assets such as derivatives and synthetics. Kine avoids depending on individual liquidity pools (like the AMM model) and further simplifies the process of adding new assets. The peer-to-pool model allows us to extend the list of tradable assets far beyond the crypto space alone. CeFi-Like Trading Experience: In comparison to advanced and Techy centralized solutions, Kine Protocol's DeFi (Decentralized Finance) derivatives are a strictly inferior experience. Primarily, traders usually experience much higher slippage. Kine Protocol was introduced to bring solution this with the guaranteed liquidity of the Peer- to-pool model. In addition, Kine incorporates synthetic funding rates and auto-deleveraging features from Centralized Finance (CeFi) that enable it to offer up to about 100x leverage and cross-margining. No Front Running: In the face of having Pure L1 (leverage x1) trading protocols on Ethereum suffer from toxic front-running that takes advantage of the delayed price oracles, and sometimes leads to massive losses for Liquidity Providers (LPs), Kine implements a high-performance oracle that sources real-time quotes from major exchanges with less than a millisecond of latency, leading to better returns to LPs. Higher Throughput & Lower Gas Costs: Derivatives trading protocols require frequent transactions and have thus been one of the hardest hit by rising Ethereum gas fees. Kine solves this with a hybrid approach where the trading engine is run off-chain. Users only need to pay gas for staking and margin transfers, with zero gas consumption on trading activities. Kine can support 10,000+ simultaneous trading users with 4,000+ TPS. Over time, Kine Protocol aims to move its off-chain engine to a high-performance L2 rollup so that the entire trading experience exists fully on-chain. Kine Protocol Testnet Kine Protocol launched the exchange testnet on the 8th of March 2021. Kine opened the Protocol's Staking and Trading functions for public tests on that same day. Users can find the Kine Staking testnet client available at the site "kovan.kine.finance", and are to ensure to switch their wallet provider to Kovan network to use the protocol's testnet without any costs. Kine-Tech The Kine tech is the sum of the technological inputs employed within the Kine Protocol, which includes Smart contracts, controllers, and other functions as utilized within Kine's ecosystem: Kine-Tecture (Kine Contract Architecture): This section lays out the detailed architectural design and implementation of the Kine Protocol. KToken contracts (as the Kine Protocol's smart contracts are called) accept Staking assets from users and mint transferrable kTokens from which users can redeem the staking assets. Controller contract on the other hand functions as the risk controller by allowing or rejecting users' actions according to their collateral with respect to their liquidity states. KMCD contracts keep records of Multi Collateral Debts (MCD) and work with Minter contracts to control the supply of kUSD. Kaptain contract along with the KineOracle contract keeps updating asset and debt prices to feed Controller and Minter for their calculations. KToken Contracts KToken contracts is a technological function within Kine Protocol, that implements the functionality of Staking assets as collateral to users. By staking assets to KToken contracts, Stakers (or Liquidity Provider) gain (i.e mint) kTokens representing their staking balances and may use these balances as liquidity to increase their MCD Limit in order to mint kCurrency. The minted kTokens can be redeemed partially or in full to withdraw the assets or be transferred to others following ERC20 protocol. Before kTokens being redeemed or transferred, the Controller contract will check if the owner's collateral is sufficient against its MCD to allow or reject transactions. Contracts Structure: Within Kine Technology, every type of staking asset is contained by a KToken contract. There are currently two kinds of kTokens, KEther and KErc20, which manage ether and ERC20 tokens respectively. KErc20 follows a Delegated Proxy pattern for upgradability, where KErc20Delegator is the storage contract while KErc20Delegate is the logic implementation contract. Users may interact with KToken, Controller, and Minter for majority of Kine Protocol functionalities. Functions within Kine-Tech: Mint- Users can transfer underlying ERC-20 tokens into KErc20 contract or ether to KEther contract as collatera