<\/p>\n\n\n\n
Hello,\nSatoshi clubbers! Another AMA took place in Satoshi Club and we would like to\nintroduce to you the AMA session with our friends from Kine and our guest was founder\nand the CEO of kine protocol @lei_kine. The AMA took place on 8 June.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n
In\nthis AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary\n| Satoshi Club:<\/strong> Hello \nSatoshi Club! We are happy to announce our AMA session with Kine!\nWelcome to Satoshi Club😀<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> today our guest – @lei_kine ! 🚀<\/p>\n\n\n\n welcome to Satoshi Club!<\/p>\n\n\n\n how are you doing?<\/p>\n\n\n\n Lei\nWang:<\/strong> hi all, thanks Satoshi Club for the invitation, my\ngreat pleasure to share about Kine protocol here<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Hello, Lei!<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> 👍 happy to have you here!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> We are happy to see you here today 👏<\/p>\n\n\n\n Let’s start our AMA 🚀<\/p>\n\n\n\n Lei, could you please tell us about your role at\nKine<\/p>\n\n\n\n And of course, please, introduce Kine to our\ncommunity!<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> nice way to start AMA 👀👍<\/p>\n\n\n\n Lei\nWang:<\/strong> I am the founder and the CEO of kine protocol.\nBefore building Kine protocol I was heading huobi\u2019s institutional business and\nprior to that I worked in several major\ninvestment banks heading the derivative trading technology in London and\nSingapore, most of the team has started working with me since then<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> How long are you in crypto? What are\nits advantages 😄<\/p>\n\n\n\n Lei\nWang:<\/strong> We are a bunch of engineers who loves trading, many\nare excellent traders, during our crypto trading, we are not satisfied with\ncurrent trading environment, we identified a lot of issues affects our trading\nexperience and we talk about potential solutions all the time, eventually\ninstead of waiting for a perfect platform to come to existence, we decided to\nbuild one for ourselves and everybody who loves trading. Especially with the\nraise of defi, the timing is perfect for us to do so. It took us 6 months of\nhard work to build Kine, our dream derivative trading market<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> so Kine is your first project in crypto\nas a CEO?<\/p>\n\n\n\n Lei\nWang:<\/strong> yes, correct<\/p>\n\n\n\n Kine is a defi protocol you can trade derivatives in\na fast, transparent, and effortless way. It offers unlimited liquidity, up to\n100x leverage, immediate execution, 0 slippage, 0 gas fee with cross margin\nsupport, extremely low latency with high throughput that is comparable with any\ncefi derivative markets. It brings user defi level of asset security,\ntransparency, annomasity and cefi level of efficiency and low cost<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> And it’s awesome, that you decided to\nbuild something based on your experience!<\/p>\n\n\n\n Lei\nWang:<\/strong> yes, few veruy lucky doing what I love<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> nice! 0 gas fee is especially very cool\n😊👍<\/p>\n\n\n\n Lei\nWang:<\/strong> we are now the number 1 defi derivitive protocol on\nehthrum in volume, today’s 24 hour volme is 75m$<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Why not 100x leverage?😉<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> because i don’t use leverage trading 😄<\/p>\n\n\n\n super! 🙌<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Incredible numbers!<\/p>\n\n\n\n When Kine went live?<\/p>\n\n\n\n Lei\nWang:<\/strong> over 5000 active trading user today!<\/p>\n\n\n\n 26th March, only less than 3 months ago<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> And so many active traders! It means\neverything works very good!<\/p>\n\n\n\n How many liquidations?😄<\/p>\n\n\n\n Lei\nWang:<\/strong> yes, and we are launching on bsc this thursday<\/p>\n\n\n\n let me check from live dashboard<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> 👏👏👏 so it will\nboost amount of traders on your exchange for sure<\/p>\n\n\n\n Lei\nWang:<\/strong> 150 today, not a great day for crypto<\/p>\n\n\n\n Mary\n| Satoshi Club: <\/strong>Oh, it’s also awesome! May be it’s time\nfor us @Cool_as_Ice to try leverage trading?😂<\/p>\n\n\n\n Lei\nWang:<\/strong> I belive so, just did a ama with 1 of the largest\nbsc community this moring<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, that’s true<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> maybe 😁<\/p>\n\n\n\n Lei\nWang:<\/strong> you should, it’s fun as long as you know how to\nmanage risk, I dont recommand beginners to use high leverage though, keep it\nunder 5X is my suggestion<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Congratulations! Sure it wi be a big\nday for Kine and BSC!<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> 👍 thanks for suggestion, we\nwill keep in mind<\/p>\n\n\n\n Lei\nWang:<\/strong> thx<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, i also think so, and to be honest\nwant to try leverage trading 😉<\/p>\n\n\n\n Thank you, Lei for your introduction! Do you want to\nadd something or we can dive deeper into the details with the questions from\nour community?<\/p>\n\n\n\n Lei\nWang:<\/strong> it helps capital efficiency, many abritrager uses\nit to hedge their spot risk<\/p>\n\n\n\n please go ahead<\/p>\n\n\n\n Q1\nfrom Telegram user @Jonahapagu <\/em><\/strong><\/p>\n\n\n\n KINE\nExchange is implementing on its platform a peer-to-pool model, this model has\nbeen used by other projects such as Synthetix and Compound finance, but KINE Exchange\nis said to be implementing a more improved version of this model, so how does\nKINE exchange implement the peer-to-pool model on its platform, and what are\nthe features and improvements that KINE is implementing in this Model when\ncompared to implementation of the model in other Platforms..<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> sure 1. Kine accepts a wider range of pledged\nassets, almost all major crypto assets (now major bsc asset as well) can be\nused for collateral, which expand our user group to much wider audiance<\/p>\n\n\n\n 2. Kine can support higher leverage and higher\nfrequency derivatives trading, synthetix not yet support leverage I believe<\/p>\n\n\n\n Lei\nWang:<\/strong> 3. most importantly we solve the biggest issue of\nthe current defi derivative space, the high gas fee and latency by combining on\nchain staking, clearing and settlement and off chain trading engine<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Where can we find the full list of\naccepted assets?😄<\/p>\n\n\n\n Lei\nWang:<\/strong> on etherum:\nwbtc, eth, usdt, usdc and ofc kine<\/p>\n\n\n\n on bsc: BNB, BTCB, ETH, LTC, XRP<\/p>\n\n\n\n and BCH<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> do you not support DAI? quite popular\nasset as well<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Yes, that’s real issue! So, it’s really\n0?<\/p>\n\n\n\n Lei\nWang:<\/strong> 4. 1 more, Kine developed a high-performance oracle\nto realize real-time pricing feed to solve the user loss caused by the\nfront-run. I believe front-run and toxic flow are the biggest issue with\nsynthetix atm, due to the oracle latency, we built our high efficiency oracle\nwith millisecond level latency, no room for front-runners<\/p>\n\n\n\n good suggestion, I think it’s in the plan in next\nbatch bucket<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> nice! yeah front-running is the problem\non eth<\/p>\n\n\n\n Lei\nWang:<\/strong> yes, absolutely 0 gas fee<\/p>\n\n\n\n Mary\n| Satoshi Club ; <\/strong>I am yours 😄<\/p>\n\n\n\n Thank you for your answers, Lei! Are you ready for\nthe next question?<\/p>\n\n\n\n Lei\nWang:<\/strong> that is why we can accumulate 1.7 billion trading\nvolume in last 2.5 months, nobody wants to pay gas for high frequency\nderivative trading<\/p>\n\n\n\n yes<\/p>\n\n\n\n Q2\nfrom Telegram user @meml97 <\/em><\/strong><\/p>\n\n\n\n It\ncaught my attention that Kine will have a \u201cMultiplied Staking Rewards System,\nwhere staking rewards are comprised of both trading fees from Kine Exchange and\ntoken distributions from the Kine Ecosystem Grant\u201d. Can you tell us more about\nthis reward system and how does it exactly work? Also, what is this Kine\nEcosystem Grant? How can users get tokens from it?<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> sure, most asset can get doubly rewarded, and kine\ncan get tripply rewarded, here is how it works<\/p>\n\n\n\n take eth as example, you can stake your wbtc\nproviding liquidity, here you dont need a pair just whatever single asset you\nhave, the APY is about 40%, then you can mint kusd with the asset you staked.\nyou can use your kusd for either leveraged trading, but if you are not a big\nfun of trading, you can proivde liquidity in kusd\/usdt or kusd\/kine pool, and\nget close to 130% APY, so the total APY for eth is over 200% on bsc<\/p>\n\n\n\n for kine holders, you can first lock your kine to\nshare 20% of the transaction fee and get xkine( similar to xsushi) the apy is\nabout 30%, then stake the xkine for staking reward (another 40%), then provide\nkusd-kine liquidity for the 130% reward<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> all assets on your exchange a\nstackable? so i can stake wbtc, eth and stablecoins?<\/p>\n\n\n\n Lei\nWang:<\/strong> that’s correct<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> that’s cool!<\/p>\n\n\n\n Mary\n| Satoshi Club: <\/strong>Btw, how many transaction fees do you\ncollect daily?<\/p>\n\n\n\n Lei\nWang:<\/strong> the ecosystem grant is the treasury reserved for\ncommunity and who contributes in the ecosystem, by providing liquidity and\ntrading, to get kine from trading, you only need to trade $1000 a day ($1\ntransaction fee) to get 2.7 kine token<\/p>\n\n\n\n today $22,174<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Super! Pretty high number!<\/p>\n\n\n\n Lei\nWang:<\/strong> 50% of this goes to liquidity provider, 20% goes to\nkine holder locking, and 10% goes to trading volume reward<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> big thank you for answers! ready for\nthe next question? 😉<\/p>\n\n\n\n Lei\nWang:<\/strong> we use it to buyback kine from the market and\ndistribute kine to contributors<\/p>\n\n\n\n the buyback from transaction fee holds token price\nsolid<\/p>\n\n\n\n sure<\/p>\n\n\n\n Q3\nfrom Telegram user @Cheriemike<\/em><\/strong><\/p>\n\n\n\n I\nnoticed that Kine uses a Hybrid model of on-chain and off-chain settlement that\nit accept gas fees for staking and marginal transfers and it does not accept\nactivities done on trading.Building a Hybrid Model won\u2019t be easy can you please\ntell us the challenges you faced while developing such project?<\/strong><\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> so you use distribution model and not\nburning? some other projects prefer buyback and burn<\/p>\n\n\n\n Lei\nWang:<\/strong> it’s very\nchallenging thing to do, we know demand for trading derivitive on defi is there\nwith huge potential, but gas fee and latency is the only thing in the way for\ntraders to move onchain, that is why we designed this hybrid solution, we are\nthe first project does that, there is no reference to learn from<\/p>\n\n\n\n firstly the team needs to have smart contract\ndevelopment skill and java skill and ofc deep knowledge in financial system and\nderivitive, build a team with such set would the first challenge<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Why did you decide to choose this model\ninstead of L2 solution?<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> i wanted to ask the same 🤣<\/p>\n\n\n\n Lei\nWang:<\/strong> luckily most of the team member has been following\nme since investment banking days for last 5 days we have been developing\nderivative trading system since 2015, the team already have the deep bounding\nand the right skill for that<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> It’s very important! That’s why you\nalready succeed 😃<\/p>\n\n\n\n Lei\nWang:<\/strong> L2 is still in experiment, not mature enough for\ntrading volume that’s comparable with cefi exchange, our aim is to compete with\nbinance, huobi and okex, using experiment solution might bound us from moving.\nand we dont want to treat our users as labrat with experiment solution, we are\nserious about it. we can handle 8000 transactions per second with our setup not\nsure any existing L2 solution is capable atm, but when L2 solution has proven\nto be capable, we can easily migrate<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> well said 👍<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Perfect explanation!<\/p>\n\n\n\n Lei, thank you for your answers! Ready to jump to\nthe next question?<\/p>\n\n\n\n Lei\nWang:<\/strong> we have 3 institution trading firm already started\ntrading on kine, one of them did $15m today, institution has doubt with L2, you\nneed to have sofisticated solution to get them onboard, it’s not a game when\nyou work with institutions<\/p>\n\n\n\n sure<\/p>\n\n\n\n Q4\nfrom Telegram user @orlemys <\/em><\/strong><\/p>\n\n\n\n You\nsaid virtually any asset can be supported by Kine\u2019s peer-to-pool engine. You\nmentioned BSC, ETH, and even gold or fiat. This is, of course, to help the\nplatform expand, encouraging users to trade and consequentially promoting the\nuse of your protocol. However, this might provoke unwanted fees. Could you\nexplain what exactly are Kine\u2019s plans to resolve or alleviate these issues? You\nalso support cross-margining, do you consider this to be a less risky trading\nmethod than others?<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> from my perspective, I worked in top investment\nbanks and hedge fund for 14 years, trading fx, commodity, stock is no much\ndifference from trading crypto, the strateges are similar, we will adjust fees\nto a comfortable level according to the nature of the asset and users’\nexpectation<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Except BSC do you plan to add more\nchains?<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> this is the last question 😄<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Ohhhh, sorry<\/p>\n\n\n\n Lei\nWang:<\/strong> cross-margin is indeed less risky, especially for\nprofessional hedging traders, say you are both long and short in 1 asset for\nthe abitrage profit, without cross margin you might easily get liquidited on 1\nleg while you are in profit, cross margin looks at your protfolio level\ngain\/loss, so for hedge trading you could never get liquidated<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> by the way, to users have to pass any\nKYC procedure on your exchange? as i see i need only metamask or walletconnect\nto use it<\/p>\n\n\n\n Lei\nWang:<\/strong> yes, we are launching on Heco and Okexchain later\nthis month, SOL and polygon are in the pipleline for next month too, we aim to\nhave defi users trading popular asset from all chain without feeling of the\nboundry<\/p>\n\n\n\n metamask, it’s defi, no kyc<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Super, we hate KYC a bit😂<\/p>\n\n\n\n Lei\nWang:<\/strong> using our chain-bridge solution, user can move\nasset between different blockchain with 0 cost<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> thanks for clarification😉<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> You can continue while answering the\nnext question ☺️<\/p>\n\n\n\n Are you ready for it?<\/p>\n\n\n\n Lei\nWang:<\/strong> sure<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> awesome! so it won’t be a problem to\nmove stablecoins from bsc to eth, using your bridge?<\/p>\n\n\n\n for example<\/p>\n\n\n\n Lei\nWang:<\/strong> because usdt\non bsc is not issued by tether, we need a bit of work to support that, but\nother asset like eth, ltc, bch etc you can use the solution<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> great!<\/p>\n\n\n\n thank you for answer<\/p>\n\n\n\n Q5\nfrom Telegram user @NataliyaKil <\/em><\/strong><\/p>\n\n\n\n While\nlooking for information about Kine Exchange, I read that you have some kind of\naffiliate program. Can you tell us more about this? Who can take part in this\nprogram, how to do it, and how do the participants benefit? What other programs\ndoes Kine have for the community (for Stakers, Traders, Liquidators and KINE\ntoken holders), partners, investors? Is there a referral and ambassador\nprogram?<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> yes there is an referral\/affiliate program, anybody\ncan participant, once you connected with the site, you can produce your own\ninvitation code\/link anybody who conncted with your invitation link, 15% of\nthere transaction fee automatically goes to your affiliate account<\/p>\n\n\n\n for people who wants to higher commission, apply to\nbecome our affilliate and lock some kine, 3000 kine for 40% commission, 25k\nkine for 60%, and lock 100k kine to get 80% of the commission, this program is\ndesigned for professtional brokers<\/p>\n\n\n\n again anybody can apply and lock amount of kine\naccordingly to be eligible for the transaction fee commission<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> gotcha! thanks 👍<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> What about ambassador program? Do you\nhave it?<\/p>\n\n\n\n Lei\nWang:<\/strong> for bsc stakers on top of the existing apy reward,\nthe first month, we will give extra 50k kine per week to attract bsc stakers,\nthe estimated apy for this month is 300%-500%<\/p>\n\n\n\n it’s currently just referal program and affiliate\nfor user aquisation atm, but we are open for suggestions<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Thank you for clear answers! Ready for\nthe 6th and last question from this part?<\/p>\n\n\n\n Lei\nWang:<\/strong> anybody is interested in becoming ambassador in\nnon-chinese\/english region can contact our team we are open to start this<\/p>\n\n\n\n yes<\/p>\n\n\n\n Q6\nfrom Telegram user @lzamg<\/em><\/strong><\/p>\n\n\n\n The\nKine Protocol is currently going through a cross-chain token transfer,\nspecifically to OKEx Chain and Binance Smart Chain. I would like to know, what\nmotivated you to perform this cross-chain token transfer? Is it because of the\nissues of Ethereum? And aside from the two chains mentioned, will you be\nintegrating other networks in the future?<\/strong><\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> question was a bit answered\nalready 😁<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Partially ☺️<\/p>\n\n\n\n Lei\nWang:<\/strong> I believe defi should be a unified world, separate\nasset by chain is not ideal, due to the current efficiency issue of the etherum\ninfrastructure, users are distributed across chains, and on each chain there\nare great asset, this shouldn’t bound user from the access to ther block chain,\nwe want to reunit them again, that is our motivation<\/p>\n\n\n\n already anwsered for more chains, heco, okex,\npolygon, sol etc<\/p>\n\n\n\n D.\n| Satoshi Club:<\/strong> totally agree 👍<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> If before we couldn’t imagine this, now\nit’s becoming reality<\/p>\n\n\n\n Lei\nWang:<\/strong> we are only limited by our imagination, creativity\nis human nature, all we have to do is stay out of the way, let our creativity\nguide our work<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Thank you for what you are doing 👏<\/p>\n\n\n\n And now we came close to the live part of our AMA!<\/p>\n\n\n\n Lei\nWang:<\/strong> feels lucky to be in blockchain world and become\npart of this greatest revolution in the centrue<\/p>\n\n\n\n Mary\n| Satoshi Club: <\/strong>Me as well 🙂<\/p>\n\n\n\n So, Lei, are you ready for the storm of questions?🚀<\/p>\n\n\n\n Q1 from telegram username @Ashia_24<\/em><\/strong><\/p>\n\n\n\n What\nare the differences between Kine Finance and Kine Exchange, as well as their\nrespective roles?<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> kine.finance for staking and liquidity farming,\nkine.exchange for leverage trading<\/p>\n\n\n\n Q2 from telegram username @Jonahapagu<\/em><\/strong><\/p>\n\n\n\n Hello\n@lei_kine <\/strong><\/p>\n\n\n\n It\nis stated that In KINE ecosystem, there are several major roles in play which\nare stakers, traders and liquidators. Stakers and traders are more common roles\nfound in other platforms, but what is the role of liquidators in KINE\necosystem, what functions do they perform, and how can a user become a\nliquidator and benefit from the role in KINE’s Ecosystem.<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> when staking users’ debt ratio goes over 95%,\nliquidators to comes in to perform liquidation and gain 5% of the liquidation\nincentive<\/p>\n\n\n\n Q3 from telegram username @Ashia_24<\/em><\/strong><\/p>\n\n\n\n Kine\nExchange is being discussed. You have a 100-fold leverage edge. Is it possible\nfor all traders to choose the amount of leverage they employ, or are there\nconditions that must be met in order to access leverage at the maximum level?\nWhat about newcomers? Is KINE exchange designed with them in mind?<\/strong><\/p>\n\n\n\n Lei\nWang:<\/strong> yes, users can choose whatever leverage they feel\ncomfortable with, we dont set conditions to interfer with trader’s own\ndecision, my recommandation is for begineers is to keep leverage low<\/p>\n\n\n\n Q4 from telegram username @Jonahapagu<\/em><\/strong><\/p>\n\n\n\n Hello\n@lei_kine<\/strong><\/p>\n\n\n\n KINE\nis said to be introducing synthetic funding fees to balance long\/short\nexposures and reduce impermeant P&L, So how does this your idea of using\nsynthetic funding fees work, and how does this balance long\/short exposures\nwhen trading derivatives on KINE exchange….<\/strong><\/p>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n