Summary:
Mimo Labs, in collaboration with Mamori Labs, proposes to deploy the KUMA Protocol on Kinto Mainnet.
Context
Mimo Labs has spent these last few weeks working in collaboration with Mamori Labs, the company building Kinto, to propose the KUMA DAO to deploy the KUMA Protocol on Kinto Mainnet.
The proposal presents an overview of the KUMA smart contracts (the “KUMA Protocol”) with the main features as well as proposed KIBT(s) (already approved by the DAO) to be deployed. The proposal requests a vote from vMIMO holders regarding a potential deployment on Kinto Mainnet.
Rationale:
Kinto is a permissioned Ethereum Layer 2 focused on providing safe and insured access to financial services. It’s built on top of the Ethereum network using the Arbitrum Nitro Stack, and it’s non-custodial, transparent, and governed by the community.
Kinto has been designed from the ground up to provide a safe environment for users and financial institutions. Kinto provides KYC, insurance, and AML & fraud monitoring at the blockchain level by default. All participants are KYC’ed, and the network runs AML on all of them continuously. Transactions can then only be performed by verified participants. PII is only saved in in an identity provider selected by the user from a list approved by governance and their information can only be shared with explicit user permission.
Kinto has a two-layer governance system fully on-chain (pending approval in governance initiation by pre-launch users). The protocol parameters, sequencer, and treasury will be voted on-chain by 9 Nios (Guardians). Token-holders elect these 9 guardians on a rolling 6-month basis.
You can learn more about Kinto in their technical documentation: Welcome to Kinto - Kinto: The safe L2
We propose to deploy only the USK on Kinto Mainnet:
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USK: The KIBT would be backed by 12 months US T-Bills, tokenized on-chain as NFTs by Mimo Capital AG. Below are the informations of the KUMA NFT:
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currency: USD
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issuer: US
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term: 12 (months)
Deploying the KUMA Protocol on Kinto Mainnet would open up new markets, both in terms of users (regulated entities), growth and integrations; as well as taking the pulse of Kinto’s traction for a potential future deployment on Kinto Mainnet.
Means:
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Human Resources: Multisig signers will need to sign transactions to execute the proposal
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Treasury Resources: There is no cost for the treasury to deploy the protocol on Kinto Mainnet.
Technical implementation:
If the proposal is approved, a second proposal will be posted detailing the protocol deployment plan.
Voting Options:
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Accept to deploy the protocol on Kinto Mainnet
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Against/Rework the proposal
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Abstain
Authors: @misterkeegan from Mamori Labs
Sentiment poll:
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Accept to deploy the protocol on Kinto Mainnet
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Against/Rework the proposal
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Abstain