# Introduction to the Kinto DAO

This document is a work in progress and may change significantly as feedback is captured from community members.  Please join the Kinto Discord to discuss [<mark style="color:purple;">Kinto governance</mark>](https://discord.com/invite/kinto) with other community members.

**In summary:**

* Kinto is an L2 blockchain network designed to accelerate the transition to an on-chain financial system. It features user-owned KYC, AML, and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience.
* The $K governance token is pivotal in **decentralizing the governance of Kinto smart-contracts** across multiple blockchain networks and any future products authorized by the Kinto DAO.
* To minimize the participation problem that plagues other on-chain governance systems, Kinto has a **dual-governance system**. $K token holders elect the guardians of the network- *also known as Nios*. **Nios** are then able to create and vote on proposals during their term.
* &#x20;**Engen, Kinto's Launch program,** was created to ensure a fair distribution and a decentralized launch. Engen credits are converted to non-transferable $ENGEN tokens, which allow **24,000 holders** to participate in **proto-governance**. They can vote on the creation of the DAO constitution, $K token plan, and mining program. Engen started on November 2023 and will finish on 5/17/2024.
* The **$K mining program will begin on 6/15/2024 and lasts for several years.**

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