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Kintsugi

Kintsugi

Kintsugi is Interlay’s canary network, an experiment with real economic value deployed on Kusama.

Kintsugi's kBTC brings radically open Bitcoin to Kusama to kickstart liquidity for parachains like Karura, Shiden and Moonriver. Kintsugi is interBTC's canary network, an experiment with real economic value deployed on Kusama. Kintsugi and interBTC share the same code base - with the difference that Kintsugi focusses strictly on innovation and will always be ahead in terms of features.

What Is Kintsugi Network (KINT)?

Kintsugi is Interlay’s canary network, an experiment with real economic value deployed on Kusama. Kintsugi and Interlay share the same code base - with the difference that Kintsugi focuses strictly on innovation and will always be ahead in terms of features.

Interlay is a decentralized network dedicated to connecting crypto-currencies like Bitcoin with DeFi platforms like Polkadot and Ethereum. The Interlay network is hosted as a Polkadot parachain and will be connected to Cosmos, Ethereum, and other major DeFi networks. Read more about Interlay’s vision of blockchain interoperability.

kBTC, Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid). Users must only ever trust that Bitcoin and the DeFi platform they use are secure.

KINT is the native utility token that is used for:

Governance votes to decide on protocol upgrades and determine how network resources are allocated,

Fees for processing transactions.

How Many KINT Coins Are There in Circulation?

Kintsugi network launched on October 13th, 2021. KINT has an unlimited supply, with 10 million tokens emitted over the first 4 years. Starting with year 5, there is a 2% annual inflation.

70% of the supply is distributed to the community as airdrops and block rewards: 30% to Vault rewards 5% to governance staking rewards (“stake-to-vote”), and 35% to the on-chain treasury controlled by network governance. 10% are allocated to a reserve, to be spent on network development and community & ecosystem building from the non-profit oriented organization Kintsugi Labs. 20% are airdropped to the (current and future) team and early backers who funded the initial development.

Public property. Any user or repository providing liquidity to the bridge (BTC, KSM,…), crowdfunding participants, early sponsors and builders will contribute to Kintsugi’s success with their KINT tokens. Radically open. Anyone can become a repository and help protect kBTC at any time. Yes, you can manage your own storage! Secured by insurance. Vaults block collateral on the kBTC blockchain in various digital assets. If the storages behave incorrectly, their collateral is reduced, and users are compensated for damages. As a user, you only trust that Bitcoin and the DeFi platform you use are secure. The project leads an active PR company and participated in the auction of parachains , a huge number of users are interested in this . Remuneration Schedule Kintsugi includes the following special community rewards : Early Bird: 5% for the first 3 days of crowdlan Referral: 5% for both referrer and

Kintsugi has excellent tokenomics and management structure The Council Everyday decisions are made by the elected Council, but can be canceled by the majority of holders of the KINT token. The council is democratically elected by the owners of the KINTS, and anyone can run for this post. The Council is valid for 7 days, and users can change their vote after each such period. Optimistic Management In order to promote a more active management process and avoid the problem of the “lazy voter”, Kintsugi implements “optimistic management”: proposals agreed by the Council pass automatically after the “objection period”, unless the owners of the KINTA actively vote against. The rate for voting To vote, users block the KINTA with a Kintsugi parachute. Thus, the blocking period will affect the right to vote: the longer KINT are blocked, the more voting rights they have, since the voter is interested in the long-term serviceability with

Team The team consists of programmers, researchers, and developers. Early holders of Bitcoin and DeFi.

Who Are the Founders of Kintsugi Network?

Kintsugi is the canary network of the Interlay network, created by Alexei Zamyatin and Dominik Harz. The two met in 2017 during their PhDs at Imperial College London where they were the first researchers of the cryptocurrency lab. Both have been researching Bitcoin and Ethereum since 2015/16, authoring over 30 papers with over 700 citations. Both regularly presented their work at Bitcoin and Ethereum conferences, including DevCon IV, EthCC, Building on Bitcoin, and Breaking Bitcoin.

The first steps towards Interlay and Kintsugi were made when the XCLAIM paper was presented at the Scaling Bitcoin in 2018 - describing the first-ever protocol to move cryptocurrencies like Bitcoin to Ethereum in an economically trustless and decentralized manner. In 2020, the two founded Interlay to bring research into practice. Today, Interlay employs 18 staff, including developers with experience at Google, Morgan Stanley, Trivago, Accenture, PwC, Worldpay, and Hyperledger.

What Makes Kintsugi Unique?

Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid).

What makes Kintsugi’s kBTC unique is the strict dedication to being trustless and decentralized.

Secured by Insurance. Vaults lock collateral on the kBTC parachain in various digital assets in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. Radically Open. Anyone can become a Vault and help secure kBTC, anytime.

Hence, as a holder of kBTC, you have the following guarantee: You can always redeem kBTC for BTC, or be reimbursed in the collateral currency at a beneficial rate.

In case a Vault misbehaves, you will be reimbursed from the Vault’s collateral and will end up making a profitable trade between BTC and the collateral asset(s).

At launch, collateral will be put down in DOT. In the mid/long run, this may be extended to stablecoins or token-sets to improve stability.

Summarizing, to trust interBTC, you only need to:

Trust that Bitcoin is secure. Meaning: trust that Bitcoin blocks are final after X confirmations. The bridge will recommend a minimum of 6 confirmations, though users and apps are encouraged to set higher thresholds.

Trust that Kusama / the chain you are using kBTC on is secure. This assumption is made by all applications running on top of Polkadot.

What Is Kintsugi Network (KINT)?

Kintsugi is Interlay’s canary network, an experiment with real economic value deployed on Kusama. Kintsugi and Interlay share the same code base - with the difference that Kintsugi focuses strictly on innovation and will always be ahead in terms of features.

Interlay is a decentralized network dedicated to connecting crypto-currencies like Bitcoin with DeFi platforms like Polkadot and Ethereum. The Interlay network is hosted as a Polkadot parachain and will be connected to Cosmos, Ethereum, and other major DeFi networks. Read more about Interlay’s vision of blockchain interoperability.

kBTC, Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid). Users must only ever trust that Bitcoin and the DeFi platform they use are secure.

KINT is the native utility token that is used for:

Governance votes to decide on protocol upgrades and determine how network resources are allocated,

Fees for processing transactions.

How Many KINT Coins Are There in Circulation?

Kintsugi network launched on October 13th, 2021. KINT has an unlimited supply, with 10 million tokens emitted over the first 4 years. Starting with year 5, there is a 2% annual inflation.

70% of the supply is distributed to the community as airdrops and block rewards: 30% to Vault rewards 5% to governance staking rewards (“stake-to-vote”), and 35% to the on-chain treasury controlled by network governance. 10% are allocated to a reserve, to be spent on network development and community & ecosystem building from the non-profit oriented organization Kintsugi Labs. 20% are airdropped to the (current and future) team and early backers who funded the initial development.

Who Are the Founders of Kintsugi Network?

Kintsugi is the canary network of the Interlay network, created by Alexei Zamyatin and Dominik Harz. The two met in 2017 during their PhDs at Imperial College London where they were the first researchers of the cryptocurrency lab. Both have been researching Bitcoin and Ethereum since 2015/16, authoring over 30 papers with over 700 citations. Both regularly presented their work at Bitcoin and Ethereum conferences, including DevCon IV, EthCC, Building on Bitcoin, and Breaking Bitcoin.

The first steps towards Interlay and Kintsugi were made when the XCLAIM paper was presented at the Scaling Bitcoin in 2018 - describing the first-ever protocol to move cryptocurrencies like Bitcoin to Ethereum in an economically trustless and decentralized manner. In 2020, the two founded Interlay to bring research into practice. Today, Interlay employs 18 staff, including developers with experience at Google, Morgan Stanley, Trivago, Accenture, PwC, Worldpay, and Hyperledger.

What Makes Kintsugi Unique?

Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid).

What makes Kintsugi’s kBTC unique is the strict dedication to being trustless and decentralized.

Secured by Insurance. Vaults lock collateral on the kBTC parachain in various digital assets in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. Radically Open. Anyone can become a Vault and help secure kBTC, anytime.

Hence, as a holder of kBTC, you have the following guarantee: You can always redeem kBTC for BTC, or be reimbursed in the collateral currency at a beneficial rate.

In case a Vault misbehaves, you will be reimbursed from the Vault’s collateral and will end up making a profitable trade between BTC and the collateral asset(s).

At launch, collateral will be put down in DOT. In the mid/long run, this may be extended to stablecoins or token-sets to improve stability.

Summarizing, to trust interBTC, you only need to:

Trust that Bitcoin is secure. Meaning: trust that Bitcoin blocks are final after X confirmations. The bridge will recommend a minimum of 6 confirmations, though users and apps are encouraged to set higher thresholds.

Trust that Kusama / the chain you are using kBTC on is secure. This assumption is made by all applications running on top of Polkadot.

Related Pages:

Learn more about Interlay, Kintsugi, and interBTC here.

Find out more about wBTC, a centralized Bitcoin-backed asset.

New to cryptocurrency? Find all the information you need with Alexandria, CoinMarketCap’s dedicated education resource.

KINT Price Live Data

The live Kintsugi price today is $17,45 USD with a 24-hour trading volume of $136 020 USD. We update our KINT to USD price in real-time. Kintsugi is down ,58% in the last 24 hours. The current CoinMarketCap ranking is #4162, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.

If you would like to know where to buy Kintsugi, the top cryptocurrency exchanges for trading in Kintsugi stock are currently Gate.io, and Kraken. You can find others listed on our crypto exchanges page.

What Is Kintsugi Network (KINT)?

Kintsugi is Interlay’s canary network, an experiment with real economic value deployed on Kusama. Kintsugi and Interlay share the same code base - with the difference that Kintsugi focuses strictly on innovation and will always be ahead in terms of features.

Interlay is a decentralized network dedicated to connecting crypto-currencies like Bitcoin with DeFi platforms like Polkadot and Ethereum. The Interlay network is hosted as a Polkadot parachain and will be connected to Cosmos, Ethereum, and other major DeFi networks. Read more about Interlay’s vision of blockchain interoperability.

kBTC, Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid). Users must only ever trust that Bitcoin and the DeFi platform they use are secure.

KINT is the native utility token that is used for:

Governance votes to decide on protocol upgrades and determine how network resources are allocated,

Fees for processing transactions.

How Many KINT Coins Are There in Circulation?

Kintsugi network launched on October 13th, 2021. KINT has an unlimited supply, with 10 million tokens emitted over the first 4 years. Starting with year 5, there is a 2% annual inflation.

70% of the supply is distributed to the community as airdrops and block rewards: 30% to Vault rewards 5% to governance staking rewards (“stake-to-vote”), and 35% to the on-chain treasury controlled by network governance. 10% are allocated to a reserve, to be spent on network development and community & ecosystem building from the non-profit oriented organization Kintsugi Labs. 20% are airdropped to the (current and future) team and early backers who funded the initial development.

Who Are the Founders of Kintsugi Network?

Kintsugi is the canary network of the Interlay network, created by Alexei Zamyatin and Dominik Harz. The two met in 2017 during their PhDs at Imperial College London where they were the first researchers of the cryptocurrency lab. Both have been researching Bitcoin and Ethereum since 2015/16, authoring over 30 papers with over 700 citations. Both regularly presented their work at Bitcoin and Ethereum conferences, including DevCon IV, EthCC, Building on Bitcoin, and Breaking Bitcoin.

The first steps towards Interlay and Kintsugi were made when the XCLAIM paper was presented at the Scaling Bitcoin in 2018 - describing the first-ever protocol to move cryptocurrencies like Bitcoin to Ethereum in an economically trustless and decentralized manner. In 2020, the two founded Interlay to bring research into practice. Today, Interlay employs 18 staff, including developers with experience at Google, Morgan Stanley, Trivago, Accenture, PwC, Worldpay, and Hyperledger.

What Makes Kintsugi Unique?

Kintsugi's flagship product, is a 1:1 Bitcoin-backed asset on Kusama. Backed by multi-collateral insurance, it resembles an algorithmic stablecoin pegged to and redeemable 1:1 for Bitcoin (i.e. a hybrid).

What makes Kintsugi’s kBTC unique is the strict dedication to being trustless and decentralized.

Secured by Insurance. Vaults lock collateral on the kBTC parachain in various digital assets in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. Radically Open. Anyone can become a Vault and help secure kBTC, anytime.

Hence, as a holder of kBTC, you have the following guarantee: You can always redeem kBTC for BTC, or be reimbursed in the collateral currency at a beneficial rate.

In case a Vault misbehaves, you will be reimbursed from the Vault’s collateral and will end up making a profitable trade between BTC and the collateral asset(s).

At launch, collateral will be put down in DOT. In the mid/long run, this may be extended to stablecoins or token-sets to improve stability.

Summarizing, to trust interBTC, you only need to:

Trust that Bitcoin is secure. Meaning: trust that Bitcoin blocks are final after X confirmations. The bridge will recommend a minimum of 6 confirmations, though users and apps are encouraged to set higher thresholds.

Trust that Kusama / the chain you are using kBTC on is secure. This assumption is made by all applications running on top of Polkadot.

Related Pages:

Learn more about Interlay, Kintsugi, and interBTC here.

Find out more about wBTC, a centralized Bitcoin-backed asset.

New to cryptocurrency? Find all the information you need with Alexandria, CoinMarketCap’s dedicated education resource.

Timeline

January 28, 2022
Kintsugi #BTC on Twitter

Further reading

Title
Author
Link
Type
Date

Ethereum: Here's where we are with 'The Merge' after phasing away 'ETH 2.0'

Web

January 30, 2022

Kintsugi #BTC on Twitter

Kintsugi #BTC

Web

October 12, 2021

Kintsugi Roadmap Update - Interlay - Medium

Alexei Zamyatin

Web

January 27, 2022

Обновление дорожной карты Kintsugi - Interlay RU - Medium

Alexei Zamyatin, translated into Russian. Posted by Andrey P.

Web

January 31, 2022

Documentaries, videos and podcasts

Title
Date
Link

🔥Kintsugi • Как принять участие в аукционе KUSAMA • Kintsugi Crowdloan • kBTC Token

September 30, 2021

Kintsugi - почему нужно заносить? | Обзор проекта и токеномики | Как получить больше токенов

September 28, 2021

Kintsugi - почему нужно заносить? | Обзор проекта и токеномики | Как получить больше токенов

September 28, 2021

Kintsugi Bitcoin bridge for Kusama | How it works, how to run a vault, and cross-chain with Karura

August 27, 2021

Kusama аукцион парачейнов - раунд 2! | Куда выгодно занести | Лучшие претенденты занять слот

August 31, 2021

References

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