Ethereum Layer 2 Kinto Migrates To Arbitrum
Ethereum Layer 2 Kinto has migrated to the Arbitrum ecosystem via the Arbitrum Nitro technology stack, following a change in the Arbitrum Orbit ecosystem structure. Kinto aims to bridge the gap between traditional finance and decentralized finance by building a KYC-compliant Layer 2 to support modern financial institutions and decentralized protocols. It also aims to reduce the risk of DeFi exploits by providing built-in insurance for all smart contracts.
The decision to migrate to Arbitrum was driven by the need to provide similar levels of security, reliability, and regulatory compliance in traditional financial systems while reducing costs and friction associated with traditional asset issuance. Arbitrum’s credibility, efficiency, and mature platform, with a strong understanding of decentralized finance, made it a perfect fit for Kinto’s foundation. Kinto founder Ramon Recuero said Arbitrum is the indisputable leader in the rollup space regarding adoption, TVL, and technology maturity. The mainnet launch is scheduled for Q1, 2024.
(With inputs from Shikha Singh)
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