Media reports confirmed that Avalanche Asia Star Fund had made a strategic investment in Kine Protocol. The investment is intended to accelerate the development of the Ethereum based decentralized ecosystem. The investment will also help Kine integrate with the Avalanche ecosystem, further expanding the platform and introducing new products. Avalanche is fully compatible with Ethereum assets, apps, and tools with faster speeds, higher throughput orders, and lower fees. According to this Avalanche price prediction, the AVAX price could cross all barriers scaling $150.
— 🔺 𝗔𝘃𝗮𝗹𝗮𝗻𝗰𝗵𝗲 𝗦𝗽𝗮𝗰𝗲 🔺 (@Avalanche_Space) January 3, 2022
Kine Protocol is the ecosystem that consists of the KINE DEX, the decentralized exchange built on the Ethereum network. The DEX claims to offer infinite liquidity to the users, which is expected to help traders engage in decentralized derivative trade efficiently while maintaining transparency. On the other hand, Avalanche is a blockchain incubation platform that provides financial and knowledge resources to budding blockchain startups. It also facilitates the introduction of decentralized financial applications and enterprise blockchain solutions on its platform.
Kine Protocol CEO and Co-founder Lei Wand stated that Kine Protocol was deployed on the Avalanche network in December 2021. He further added,
AVATAR is accelerating the development of the Avalanche (AVAX) ecosystem by investing in and supporting innovative teams and projects. The Avalanche network will give us a solid guarantee to continue to work on Defi and create our own Metaverse. We are very excited about AVATAR and the AVAX ecosystem, and we are expanding our platform and new products into the powerful Avalanche, adding to its continued growth.
Integration with Avalanche aligns with Kine Protocol’s vision of implementing multi-chain deployments. The protocol has already been deployed on Ethereum, Binance Smart Chain, and Polygon. The multi-chain integration has helped Kine achieve 7000 daily active users and a claimed daily trading volume of $300 million. This has also helped Kine DEX to break into the top 10 DEX list on CoinMarketCap. Launched in March 2021, Kine Protocol is dedicated to realizing its mission of making everything present on the blockchain tradeable. The protocol also aims to bring together three modern blockchain concepts – DeFi, Metaverse, and NFT.