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Slot auctions are one of the unique features of the Polkadot and Kusama ecosystems. Projects are given the opportunity to create a system with a scalable multi-chain architecture by leasing a slot on their respective relay chain.
Kintsugi, our featured project of the day, is developed by Interlay under the supervision of Kintsugi Labs, a non-profit organization responsible for Kintsugi’s launch and the support of the decentralized network and ecosystem.
Being the canary network of Interlay, Kintsugi and Interlay share the same code base - with the difference that Kintsugi will be 2-3 releases ahead of interBTC with more experimental features.
Kintsugi will be governed by its community from day 1 - via KINT, Kintsugi’s governance token. While Kintsugi adopts Polkadot's governance mechanism, with two modifications: optimistic governance and stake-to-vote, the KINT token’s main purposes include Governance and Utility. KINT features an unlimited supply with 10 million KINT emitted over the first 4 years and 2% annual inflation afterward.
KINT will be controlled by the community:70% is distributed to the community as airdrops and block rewards, 30% is airdropped to the Interlay team. Starting in year 5, only the community receives new KINT from the annual inflation. There will be no public sale or ICO.
*Disclaimer: The information presented in this podcast is for informational purposes only. Trading cryptocurrencies comes with high risks, so make sure to do your own research before committing your capital to any investment.
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