The Kine Protocol, an Ethereum-based decentralized derivatives protocol for transparent derivatives trading, has announced that it has signed a strategic partnership agreement with the Avalanche Asia Star Fund – an independent $20 million fund launched by a leading Asian venture capital firm AVATAR. The announcement comes after the Kine Protocol successfully completed its multi-chain deployment on the Avalanche blockchain.
The Kine Protocol development team recently created a multi-chain-integrated trading ecology for making derivatives trade both convenient and accessible for users. Such traction has led to a considerable increase in user numbers of the Kine Protocol. Daily trading volumes on the platform amount to around $300 million from around 7,000 daily active users, ranking the Kine Protocol at number 10 in the DEX listing on CoinMarketCap.
The partnership with Avalanche, following its multi-chain deployment, will allow the Kine Protocol to further scale and offer users of the blockchain access to derivatives trading and cross-chain liquidity. The Protocol has already integrated its solution on the Ethereum, Binance Smart Chain, and Polygon networks.
One of the key advantages that sets the Kine Protocol apart from other DeFi derivatives platforms is its holistic approach and focus on community experience. The platform offers a variety of innovative events for bootstrapping engagement, such as NFT card trading, Blind Box distributions, and much more. The ‘trade everything’ approach is of key focus for the Kine Protocol development team, which aims to create a more inclusive and secure decentralized environment that will encompass the possibilities offered by metaverses, the NFT market and DeFi.
The strategic investment made by the Avalanche Asia Star Fund is aimed at accelerating the development of the Kine Protocol and facilitating the integration of the Kine Protocol into the Avalanche ecosystem. The move is important for implementing the joint KINE Eco-Metaverse initiative that is meant to create a go-to trading and decentralized interaction environment for the market community at large.
The Kine Protocol development team is confident that the most recent partnership will allow the project to tap into the advantages offered by Avalanche as the most scalable and fastest network for operation processing.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.