❓FAQ

This page answers common questions about Kinto.

What is Kinto?

Kinto is an L2 focused on providing safe and insured access to financial services. It's built on top of the Ethereum network using the Arbitrum stack and is non-custodial, transparent, permissionless, and will be governed by the community.

Who is Kinto for?

• Financial institutions that want to invest in digital assets, but existing solutions don't meet their compliance requirements.

• Developers that want to build an innovative contract application but are afraid of intelligent contract hacks.

• Investors who are tired of being victims of smart contract hacks, rugs, and scams.

When did Kinto launch?

Kinto launched in May 2024.

When was TGE?

July 1st 2024 - it was created after the community voted for it in protogovernance.

What is $K?

$K is the governance token of Kinto.

When is Kinto Token going to be listed?

When the network meets specific requirements, including 100M in TVL and Stage 1 Rollup classification. You can read more here.

Why do I need to complete KYC to join Kinto?

KYC helps keep the network more secure and makes it sybil resistant. It also enables use cases that are not possible else where on-chain - such as holding stocks and other RWA products as well as enabling institutions with specific compliance requirements to participate on-chain.

What is a passkey and why does Kinto use them?

A passkey is a way to sign in without passwords. It utilises the security capabilities of your devices and is more secure and easier to use than both passwords and 2FA methods. For example, passkeys range from Touch or Face ID to device PIN. If you want to test whether your device can create passkeys, a great demo can be found here.

What is user-owned KYC?

User-owned KYC or Self-Sovereign KYC enables the difference between owning your identity and having no identity.

To create a wallet on the Kinto network, every user must pass a KYC check, but PII is NEVER tied to the user’s blockchain identity.

Users can selectively reveal the minimum possible identity information to access certain financial services while retaining complete sovereignty over their identity.

With user-owned KYC, Kinto retains decentralized finance's openness and self-sovereignty while eliminating the barriers to integration and usage between traditional financial institutions and decentralized protocols. Learn more about user-owned KYC here.

What is Account Abstraction?

Account abstraction enables users to access crypto financial services without being forced to install a browser extension or store seed phrases/ private keys. On Kinto, applications can offer easy onboarding and account creation through username/password, 2FA, or mobile device keys while remaining non-custodial.

How do I participate in the mining program?

All you have to do is deposit capital onto Kinto. Read more here.

What’s the minimum deposit to participate in the mining program?

As little as $100 via Base or Arbitrum - but higher capital and longer commitment will equal higher rewards.

What does “Kinto” mean?

“Kinto" means golden road. In this case, a safe road to bridge the gap between traditional finance and the blockchain-based financial system.

What is Engen/ Can I still earn Engen?

Engen was Kinto launch program that ran from November 2023 to 17th May 2024 when Kinto launched. Engen was credited to individuals who participated during this period.

What is Engen for/ What does being a Kinto Founding Member mean?

Everyone who participated in the Engen launch program before the end date is a Kinto Founding Member. These users were awarded Engen soulbound token - giving them the right to vote on three vital proto-governance proposals. You can read more about Engen proto-governance here. These proposals were approved by the community and Engen holders will also be entitled to $K token allocation and a permanent 15% bonus in the mining program.

How can I provide feedback or contact Kinto?

The best way to contact Kinto is to send a message in our Discord.

What is the Kinto ID?

The Kinto ID is an NFT token that grants access to Kinto. It is provisioned to the user upon successful KYC completion with the users’ chosen KYC partners.

Users cannot send a single transaction on the Kinto network without it. The token cannot be transferred to a different wallet. These NFTs are unique; one real-world identity can only receive one NFT.

Does Kinto store any PII?

Kinto does not store or own ANY user data. None.

Can PII be linked to on-chain accounts?

PII is only saved in identity providers approved by governance and selected by the user. Information held by the identity providers cannot be linked to users' on-chain accounts except when each user chooses to do so with an application that requests it.

How does Kinto ensure maximum security?

Kinto provides KYC, insurance, AML, and fraud monitoring at the blockchain level.

How will Kinto be governed?

Kinto will have a two-layer governance system fully on-chain. The protocol parameters, sequencer, and treasury will be voted on-chain by 9 Nios (Guardians).

Token-holders will elect these 9 Nios on a rolling 6-month basis.

You can learn more about Kinto’s governance in the Kinto Constitution.