Kintsu Testnet Launches Exclusively on May 13th

[PRESS RELEASE – London, UK, May 10th, 2024]

Kintsu, a leading innovator in the DeFi space, is thrilled to announce the launch of its highly anticipated Testnet on May 13th. This exclusive event invites a select group, including the Kintsu OGs, to pioneer a new era in liquid staking on the cutting-edge Aleph Zero blockchain.

Aleph Zero is a permissionless Layer-1 blockchain that combines a Proof of Stake (PoS) consensus mechanism with a Directed Acyclic Graph (DAG) for scalability, security, and efficiency. Its advanced privacy features include zero-knowledge proofs (ZK-SNARKs) and secure multi-party computation (sMPC) within the Liminal privacy layer.

About Kintsu

Kintsu aims to reshape the DeFi landscape with its next-generation liquid staking platform, empowering users to stake their assets while maintaining liquidity. By leveraging Aleph Zero’s state-of-the-art security and unparalleled transaction speeds, Kintsu provides unmatched flexibility and efficiency in liquid staking.

A recipient of the Aleph Zero Ecosystem Funding Program, Kintsu is recognized as a pioneer within the Aleph Zero, INK, and Substrate ecosystem. With a focus on decentralization, and security, Kintsu aims to redefine liquid staking, providing DeFi users with a efficient, scalable, liquid, and composable staking solution.

Key Features of the Kintsu Testnet

– Exclusive Early Access: A select group, including the Kintsu OGs, will have the opportunity to participate first, offering focused feedback to enhance the platform iteratively.

– Seamless Staking Process: Users can stake their tokens with ease and have them allocated among carefully selected validators for optimal security and efficiency.

– Innovative Unstaking and Batching Process: Unstaking requests are collected over a 48-hour period before being batched, followed by a standard 14-day unbonding period. Participants can cancel their requests until they are batched.

– Claimable Gas Rewards: Following the unbonding period, participants can claim gas rewards from the Liquid Staking Tokens (LSTs) initially escrowed.

– Comprehensive Wallet Support: Participants can utilize wallets like Aleph Zero Signer, Nightly, Subwallet, Talisman, and Polkadot{.js}.

Hats Finance Audit Competition:

Kintsu has partnered with Hats Finance, a decentralized cybersecurity network, to conduct an audit competition on the contracts that will be deployed on the Testnet. The competition features a bounty of $40,000, incentivizing ethical hackers and security experts to identify and report vulnerabilities. This initiative ensures that Kintsu’s contracts are thoroughly vetted before their mainnet launch, maintaining the highest security standards as Kintsu pioneers the future of liquid staking.

Participation and Feedback:

Kintsu invites its community to actively participate in the Testnet, exploring its innovative features and providing crucial feedback. This feedback will play a significant role in enhancing the platform’s user experience.

Connecting with the Kintsu Community

Users can stay updated on the latest developments and engage with other like-minded individuals by joining the Kintsu Discord community and following on Twitter. Insights and feedback from the community are crucial in shaping the future of DeFi.