Kintsugi $KINT

Launched on October 13th, 2021, Kintsugi Network (KINT) is Interlay’s canary network, a groundbreaking experiment deployed on the Kusama network with real economic value. Sharing the same codebase as Interlay, Kintsugi sets itself apart by focusing strictly on innovation and is always ahead regarding features. This crypto project is committed to connecting cryptocurrencies such as Bitcoin with DeFi platforms like Polkadot and Ethereum.

What is KINT and how is it used?

KINT is the native utility token of Kintsugi Network and it serves multiple purposes within the ecosystem. Notably, it is used for governance votes to decide on protocol upgrades and determine how network resources are allocated. Additionally, it handles fees for processing transactions. KINT has an unlimited supply, with an emission of 10 million tokens over the first four years, and commencing from year 5, there is a 2% annual inflation.

Distribution of KINT

70% of the total KINT supply is allocated to the community via airdrops and block rewards. This includes 30% to Vault rewards, 5% towards governance staking rewards, and 35% to the on-chain treasury controlled by the network governance. 10% are set aside for a reserve intended for network development and community & ecosystem building by the non-profit organization Kintsugi Labs. The remaining 20% are airdropped to the team and early backers that funded the initial development of the project.

Founders of Kintsugi Network

The brains behind Kintsugi Network are Alexei Zamyatin and Dominik Harz, who initiated the project during their PhDs at Imperial College London back in 2017. Both have been heavily involved in researching Bitcoin and Ethereum since 2015/16, authoring over 30 papers with over 700 citations. The first steps towards the inception of Interlay and Kintsugi were taken when they presented the XCLAIM paper at the Scaling Bitcoin in 2018 – showcasing the first-ever protocol to move cryptocurrencies like Bitcoin to Ethereum in an economically trustless and decentralized manner.

What Sets Kintsugi Apart?

Kintsugi is unique because of kBTC, its flagship product which is a 1:1 Bitcoin-backed asset on K