❓Engen FAQ

Below are some common questions about the Engen Launch Program.

Do users have to participate in all the Engen phases?

It is possible to join in Engen without participating in all the phases - phase 3 is optional (you do not need to connect more wallets and to get your on-chain fortune) and phase 4 is optional (you do not need to deposit capital to complete Engen).

What are the accepted input assets to deposit in Phase 4?

ETH, USDC, DAI, USDe, GHO, stETH or wstETH, sDAI and weETH are supported assets for Phase 4. Please ensure you send your personal deposit address on Ethereum mainnet provided in the UI.

Will I get third party benefits if I deposit to a particular asset?

Yes - you are eligble for any third party incentives of the output asset you decide to lock your capital to.

What is the minimum deposit requirement?

0.1 ETH or $1000 value of any other asset.

Why is the minimum deposit requirement set at that amount?

We want to protect our users from high gas fees - we do not want large amounts of their principal consumed by gas. If users do not deposit, they still get a 'free' multiplier of 2 for phase 4 - the equivalent of depositing $100 before the first multiplier decrease.

When can users withdraw their funds?

When Kinto launches on 22nd May at 3pm PT.

What asset will I receive back? What I deposited or what I commit to?

You will receive back the asset type you lock to e.g. if you deposit ETH and select weETH as your output, you will receive weETH at the end of Engen when your funds are unlocked.

How long are the phases active?

Once a phase is launched, it remains live until the end of the Engen launch period.

What are Passkeys? How do I use them?

A passkey is a new way to sign in that works entirely without passwords. By using the security capabilities of your devices like Touch ID and Face ID, passkeys are way more secure and easier to use than both passwords and all current 2-factor authentication (2FA) methods.

You can read more information here https://www.passkeys.io/

Are referral credits applied immediately when someone uses a referral link?

Referral credits are updated at the end of every phase.

How long are referral links valid for?

Users can share their referral links and obtain credits for the entire duration of the Engen launch program.

How are referral credits calculated?

When a user refers someone, they get 10% of ALL credits accumulated by the people who used their referral link throughout the Engen process. This means that users can get up to 250 Engen credits per person referred up to the 2500 maximum limit per user.

Why does Kinto request an email address?

An email address is requested only for account recovery of your initial signer. If you lose access to your passkeys, you can request a new one using your email address.

When do users make a choice regarding KYC provider?

The choice of KYC provider happens immediately after providing your email address and generating a passkey. Users are presented with the available providers to select from. IMPORTANT: Once this selection is made, users are unable to go back and choose another provider, we recommend ensuring you are happy with your choice before making a selection and progressing in the process.

When will the phases be launched?

  • Phase 1: The Arrival - 27th November 2023

  • Phase 2: The Set Up - 15th January 2024

  • Phase 3: The Rescue - February 2024

  • Phase 4: The Commitment - March 2024

How many credits can a user obtain during Engen?

Max Credits per user = 2,500

For every friend that you refer, you earn 10% of the credits they obtained.

How are Engen credits rewarded to a user calculated?

Using the following formula: (Phase 1 + Phase 2 + Phase 3) * Phase 4 + referral credits.

More details on credits available during phases can be found here.

Which countries can participate in Engen?

You can find enabled countries here.

Will there be gas costs for users participating in Engen?

There are zero gas costs to users for participating in Engen, apart from any associated with committing capital in Phase 4.

What can Engen credits be used for?

  • Participate in Kinto governance launch ceremony

  • Getting priority access to products launched on Kinto

  • Reduced fees and unique discounts on products launched on Kinto

  • Cover gas costs for all transactions in the Kinto network

Will Engen credits give users tokens?

Engen credits won't be tradeable for fiat or tokens. However, Engen credits will be converted to Engen Tokens. Engen Token Holders are the founding members of Kinto and can discuss and vote on the DAO Constitution and token creation proposals. More information about this on the Engen Proto-Governance section.

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