Kryptonite Joins Sei Ecosystem: Amplifying Staking Strategies and Unleashing Liquidity
The Sei ecosystem continues to grow with the addition of Kryptonite, a decentralized AMM and staking protocol built on Sei to work with any bAssets on the Cosmos blockchain and beyond. Kryptonite aims to bring capital efficiency to the Sei Network, serving as its de facto bond market and providing users with flexible capital deployment options.
Kryptonite: A Decentralized AMM and Staking Protocol
Kryptonite is designed to work with any bAssets on the Cosmos blockchain and beyond. It offers users two ways to earn: lending and staking. Users can deposit stablecoins like USDC to earn interest on their deposits or stake bAssets to receive $kr36 rewards. By leveraging Sei's unique features, Kryptonite brings a powerful native money market to the Cosmos ecosystem.
Lend, Stake, and Amplify Your Staking Strategies
Users can lend their stablecoins to earn interest, receiving an sToken representing their share in the stablecoin pool. Alternatively, users can stake their bAssets to borrow stablecoins and earn rewards paid in $kr36. Kryptonite amplifies staking strategies by unlocking the liquidity within bAssets, enabling users to stake one bAsset, borrow stablecoins, and create entirely different bAssets to leverage.
Why Kryptonite Chose to Build with Sei
Kryptonite chose to build on Sei due to its ability to solve significant liquidity issues. Sei offers an order matching engine, front-running protection, and the fastest finality of any current chain (600 ms). These features foster the development of a new generation of innovative financial products, making Sei the ideal platform for Kryptonite.
Kryptonite's addition to the Sei ecosystem demonstrates the versatility and power of Sei's infrastructure for exchanges across various sectors, including NFTs, gaming, and DeFi. As the de facto bond market on Sei, Kryptonite offers users enhanced flexibility and capital deployment options, further showcasing the capabilities of the Sei blockchain.
About Kryptonite
Kryptonite is a decentralized AMM and staking protocol built on Sei to work with any bAssets on the Cosmos blockchain and beyond. By providing lending and staking options for users, Kryptonite amplifies staking strategies, unlocking liquidity within bAssets, and offers increased flow of staked capital across multiple chains. Kryptonite aims to bring a powerful native money market to the Cosmos ecosystem, driving financial innovation and flexibility.
About Sei
Sei is the fastest Layer 1 blockchain designed to scale with the industry. Its unique optimizations enable Web3 applications to reach Web2 level scale and performance, driving the mass adoption of digital assets. Sei Labs, one of the main contributors to Sei, comprises former Google, Goldman Sachs, Robinhood, Nvidia, and Databricks veterans dedicated to onboarding the next billion users onto a vibrant ecosystem of applications. Sei Labs has raised over $30M from top investors including Jump Crypto, Multicoin Capital, Coinbase Ventures, Distributed Global, Hudson River Trading, and Flow Traders.