Kine Protocol, a decentralized derivatives trading platform, announced that it will soon launch on Binance Smart Chain (BSC). Kine is moving towards a multi-chain ecosystem to further expand its scope.
With the BSC integration, the Kine protocol will be able to support a new range of staking assets; including popular cryptocurrencies such as Bitcoin, Litecoin, and Bitcoin Cash, as well as tokens on the BSC.
Stakers on BSC via Kine will be able to take advantage of all staking capabilities; including the minting and burning of Kine’s principal stablecoin, kUSD, as well as partaking in LP mining and reaping rewards.
Kine functions as a conduit between users and the staking pools in order to manage risk and reward. Furthermore, the kUSD price peg will be improved through a fresh new feature that gives kUSD traders the option of redeeming discounts or staking their assets to profit from arbitrage.
The BSC integration will be wholly managed by the Kine Exchange. Specifically, the locked tokens on both Ethereum and BSC will be stored on EOA addresses controlled by their exchange.
As a decentralized derivatives trading platform on the ETH public chain; Kine protocol takes the assets pledged on the Ethereum public chain and combines it with an off-chain transaction engine to create a decentralized and open trading experience.
Since its initial DEX offering in March 2021, Kine completed a significant overhaul of its cross-chain infrastructure. Kine Protocol plans to further expand on the application of their cross-chain operability on the BSC; while moving forward with more implementations on EVM chains and layer-2 rollups.