Ramon Recuero, co-founder of Kinto, announced a significant milestone for the blockchain project, stating that a "Full post with dates, mechanics, and links is live." This announcement, shared via his official Kinto social media account, signals a crucial step forward for the Layer 2 (L2) network, which aims to bridge traditional finance and decentralized finance. Recuero emphasized the achievement, proclaiming, "For everyone who refused to quit—this is your win. Onward.
Kinto is distinguished as the first Know Your Customer (KYC)-compliant Layer 2 blockchain built on Ethereum, utilizing the OP Stack and Arbitrum Nitro technology. Its core mission is to provide a secure and regulated environment for financial institutions and decentralized protocols, integrating features like native KYC checks, Anti-Money Laundering (AML), and fraud monitoring directly at the blockchain level. The platform ensures user safety through smart wallets, account abstraction, and network-wide insurance.
The newly released details, referred to in the tweet, are expected to outline the precise mechanics for the Kinto ($K) token launch and distribution. According to market data, the $K token is anticipated to list around the end of March 2025, with approximately 15-20% of the total supply unlocked at listing. The total supply of $K tokens is capped at 10 million, with a current circulating supply of around 1.8 million.
This announcement marks a culmination for participants in Kinto's "Engen" program, who were designated as "Kinto Founding Members" and received soulbound tokens granting them proto-governance rights. The detailed mechanics will likely address how these early contributors and the broader community will engage with the token's initial phases and future governance. Investors are reportedly locked until July 2025, and the team until October 2025, with long-term vesting schedules in place.
Kinto has garnered significant support, having raised $5 million across two funding rounds to fuel its development as a compliant and secure network for financial applications on Ethereum. Ramon Recuero, a seasoned entrepreneur, previously founded Babylon Finance, bringing extensive experience to Kinto's vision of creating a seamless and secure pathway for institutional and retail users into DeFi. The project continues its trajectory towards establishing a robust, compliant, and decentralized financial ecosystem.