What is Kine Protocol?
Kine Protocol is one of the decentralized exchanges (DEXs). The Kine Protocol primarily focuses on establishing general-purpose liquidity pools, which are backed by a virtual asset portfolio that can be customized. These liquidity pools enable investors to close or open derivatives positions based on reliable price feeds, removing the need for counterparties. Moreover, KIne lifts any restrictions on current peer-to-contract (also known as peer-to-pool) trading protocols through the expansion of collateral spaces for assets based on the Ethereum blockchain while allowing for third-party liquidation.
Who created Kine Protocol?
The individual behind the creation of the Kine Protocol is Lei Wang. At Kine Protocol, he serves as CEO and founder and is a CFA charter holder too. Prior to creating Kine Protocol, he used to be in charge of the institutional business of Huobi, and before even that, he worked in multiple investment banks, where he headed the derivatives trading technology within Singapore and London. In fact, a lot of the team at Kine has been working with him since then. So, they have been in the derivatives sector for quite a while.
Where is Kine Protocol located?
According to its Crunchbase profile, the Kine Protocol is based in Singapore’s Central Region.
Is Kine Protocol Safe?
Here, we will be looking at how safe the Kine Protocol can be for its investors or users or whether or not it is a scam.
Is Kine Protocol scam?
It should be safe to assume that the Kine Protocol is not a scam. For one, its current CMC (CoinMarketCap) ranking in terms of top decentralized exchanges sits at the third spot. The exchange has acquired more than 2 years of professional experience, with the team behind it having a lot more. Also, it has more than 100,000 registered users. All this combined may be more than enough to come to the conclusion that this exchange is, in fact, legitimate and not a scam. So, it should be safe to invest your funds here.
Kine Protocol Pro & Con
Pros👍
There are quite a few things that Kine has going for it.
- Strong team base
- Firstly, it seems to have a strong team behind it with years worth of experience within the cryptocurrency trading landscape.
- Low gas fees & high leverage options
- Other potential benefits that traders might obtain would be higher leverage and potentially lower gas fees, the latter of which is a result of using an engine for off-chain matching that can lower gas fees related to on-chain transactions.
- Flexible collateral options
- Lastly, it also offers flexible collateral options, where users can post various tokens as collateral, providing them with more flexibility while reducing their exposure to risks.
Cons👎
However, there are a few things that may not be particularly beneficial for traders. These could include the risk of liquidation and its reliance on Ethereum.
- Risky liquidation
- While the higher leverage being offered here may be a good option for users who are prepared to take risks and are looking for greater gains, they still have to tread more carefully with their assets, as with higher leverage, the risk of liquidation increases as well, and traders need to be mindful of that.
- Ethereum reliance
- Then, while being built on Ethereum isn’t a bad thing in and of itself, there can be a level of interdependence that may not exactly be healthy for the protocol as a whole. For instance, although the gas fees can be lowered through its off-chain matching engine, they can still be negatively impacted by network congestion, which cannot only increase transactional fees but also decrease the TPS rate. However, the extent of matters may still be lower than Ethereum’s original gas fees.
Kine Protocol Comparison
This section will cover how Kine Protocol fares against its competitors, such as PancakeSwap and Safemoon, for instance.
Kine Protocol vs Pancakeswap
PancakeSwap and Kine Protocol can be fairly similar in some respects. Consequently, while Kine Protocol would have had the upper hand in terms of trading fees, with the release of PancakeSwap v3, trading fees have been substantially lowered, bridging that gap, which was wide at one point as its trading fees used to reach 0.25%, compared to the 0.05% of Kine Protocol’s trading fees. Still, PancakeSwap’s larger user base may push it ahead when liquidity is concerned. PancakeSwap’s markets, on the other hand, number far more in comparison, at least according to CoinMarketCap, which increases its overall variety. Overall, PancakeSwap may be a better option in terms of variety and liquidity.
Kine Protocol vs Safemoon
The comparison between Kine Protocol and Safemoon is unlike your standard comparison between exchanges, as the two focus on different things. Safemoon is not exactly your standard cryptocurrency exchange. In fact, it may not even be classified as solely an exchange in the first place. While you can swap tokens, it doesn’t go beyond that in terms of services normally offered by exchanges, whereas the Kine Protocol mainly focuses on derivatives.
However, the one thing that may well play in Kine’s favor here is the various scandals that Safemoon has found itself in, with prominent YouTubers like CoffeeZilla highlighting the Pump and Dump schemes surrounding the project, which even landed them in a class-action lawsuit. Then there was the much more recent public token burn exploit that cost the firm approximately $8.9 million. Overall, it may be better here if you invest in the Kine Protocol. At least it hasn’t been involved in such scandals.
KINE Price Prediction
Where will the KINE token be within the next five or ten years? Outlined below are a few of the predictions concerning this token’s value. Moreover, the following predictions are taken from the website known as PricePrediction. It should also be noted that you shouldn’t take these predictions too seriously, or even as investment advice, for that matter, as there is always the chance that things could go in another direction.
2023
By late 2023, it is likely that the KINE token could hit a minimum of $0.12, with the maximum being $0.14.
2025
By the year 2025, the minimum price of KINE could reach approximately $0.26, with the maximum price reaching $0.31.
2030
By late 2030, KINE could reach a maximum price of around $2.02, with the minimum price being approximately $1.81.
How to buy KINE coin
While there are many exchanges you can use to buy the token, for this example, we’ll be using BingX. So you can start this process by heading over to its website and registering for an account.
- Select Buy Crypto
- Now that you have made an account, just log in to your account and click Buy Crypto.
- Select Payment Method
- Choose the fiat currency and the cryptocurrency you want to receive, like USDT, for example; enter the relevant amount you wish to spend, and simply click the Buy button once you’re done. Following that, choose the third-party payment method that suits you, and then you’ll have to enter the relevant details on the third-party’s payment page to get done with your payment.
- Click Spot
- Once your payment is complete, head back to its homepage and click Spot. Choose a trading pair that has the KINE token in it, and then select Buy as the transactional direction. After that, choose an order type, such as Limit or Market. Once your order has been placed, you can view its details at any time by going to Order History or Open Orders. If you wish, you can cancel it by clicking Cancel prior to its filling.
Kine Protocol Review
Review and basic information of Kine Protocol are as follows.
Crypto Exchange Basics | Kine Protocol |
---|---|
Official Name | Kine Protocol |
Exchange Representative (Founder) | Lei Wang |
Headquarters Location | Singapore |
Kine Protocol Launch Date | 1970-01 |
Number of Tradable Crypto Pairs | Pairs |
Weekly Visits | 0 Users |
Overall Rating | ⭐ 4.7 / 5.0 |
Kine Protocol Fee 2024
The fees charged to you for transactions at Kine Protocol are as follows.
Maker/Taker Fees | Kine Protocol Transaction Fees |
---|---|
Spot Maker Fee | 0.05% |
Spot Taker Fee | 0.05% |
Derivatives Maker Fee | 0.05% |
Derivatives Taker Fee | 0.05% |
Kine Protocol Trading Volume
Trading Volumes of Kine Protocol are as follows. (Based on CoinMarketCap 2024-03-28 17:33:26 data)
Trading Volume Items | Kine Protocol Trading Volume |
---|---|
Daily Trading Volume (24h) | 0 KRW |
Weekly Trading Volume (7d) | 0 KRW |
Monthly Trading Volume (30d) | 0 KRW |
Daily Volume Change (24h) | 0.00% |
Weekly Volume Change (7d) | 0.00% |
Monthly Volume Change (30d) | 0.00% |
Communicate with Kine Protocol
You can check exchange's messenger and SNS information in the table below.
Types | URL |
---|---|
🎺 Messenger |
FAQs
Who founded Kine Protocol exchange?
Kine Protocol was founded in 1970 by Lei Wang.
Where is Kine Protocol located?
Currently, Kine Protocol's headquarters is known to be located in the Singapore.
How many cryptocurrencies are tradable on Kine Protocol?
If you join Kine Protocol, you can trade a total of crypto pairs.
How much is Kine Protocol trading fee?
Kine Protocol has a spot maker fee of 0.05% and a taker fee of 0.05%. On the other hand, the maker fee for futures trading is 0.05% and the taker fee is 0.05%. Please note that these fees are for regular users, and the higher your membership level within Kine Protocol, the lower the fees.
How much is Kine Protocol trading volume 24h?
Kine Protocol's trading volume 24h is 0 KRW. Furthermore, the daily trading volume is showing a 0.00% change from the previous day.
How much is Kine Protocol weekly trading volume?
Kine Protocol's weekly trading volume is 0 KRW, with a total of 0 users. Furthermore, Kine Protocol's weekly trading volume is showing a change of 0.00% from the previous week.
How much is Kine Protocol monthly trading volume?
The monthly trading volume of Kine Protocol is 0 KRW. Furthermore, this month's trading volume is showing a change of 0.00% compared to the previous month.