🧠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 Kinto governance 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.

• 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.