The DeFi explosion in 2020 highlighted the growing need for blockchains to communicate with one another, thus leading the industry to prioritize interoperability to avoid crypto liquidity siloing.
Interoperability also provides a better user experience and can help projects scale which strengthens the industry and expands adoption. Unfortunately, today’s cross-chain bridges, oracles, wrapped tokens and other interoperability protocols have made little progress on this front. Additionally, they come with baggage: security vulnerabilities, centralization, and limited scalability, and they cannot seamlessly connect with fiat systems like bank accounts and credit cards.
However, overcoming these interoperability challenges will be much easier thanks to Kima Network’s recent mainnet and token launches. As an asset-agnostic, peer-to-peer money transfer and payment protocol, Kima’s mainnet introduces a vast infrastructure that includes a Universal Payment Rail (UPR), Liquidity Cloud, and a settlement protocol.
In practice, these features power blockchain interoperability by connecting fiat and digital assets across multiple chains. These key technologies allow transactions to occur without being tied to a specific currency or payment rail.
Starting November 26, the $KIMA token will be available on KuCoin, MEXC, Gate.io, and BitMart. As the native currency serving Kima’s mainnet, the $KIMA token powers several key functions within its ecosystem, including network security participation. This ensures the cross-ecosystem protocol secures efficient transactions to unify DeFi and mainstream finance. To increase its visibility for retail and institutional investors, Kima is undergoing IDOs (initial DEX offerings) on Polkastarter and ChainGPT.
Speaking on the long-awaited launch of its token, Kima’s CEO and Co-Founder Eitan Katz said: “As an interoperability protocol, Kima isn’t just presenting a real Web3 solution that links siloed liquidity, but it’s a portal between the world of digital assets and fiat.”
Designed as a decentralized settlement layer facilitating transfers and payments between isolated liquidity islands, Kima’s token launch represents the next phase in its roadmap to make cross-ecosystem interoperability more efficient, secure, and affordable. The $KIMA utility token powers the protocol’s network security via staking while providing the framework needed to incentivize validators. This enables Kima’s decentralized settlement layer to facilitate ecosystem building, transaction payments, and liquidity processing.
Katz also adds that Kima’s protocol “Already supports most major blockchains, providing extensive technical help and expertise via our SDKs and APIs, ensuring developers and institutions can seamlessly integrate our technology. The $KIMA token, along with the protocol it powers, are crucial infrastructure components that will play a major role in the future of financial services and reduce our reliance on centralized intermediaries.”
Kima’s protocol is designed to handle a wide range of applications including cross-border money transfers, crypto-fiat payments, tokenized real-world asset transactions, gaming, DeFi, e-commerce, and more. Prior to the launches, Kima announced numerous collaborations with a broad range of players from both the Web3 and financial worlds, highlighting the diverse capabilities of its technologies and the importance of genuine blockchain and inter-ecosystem interoperability.