defiprime
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All things DeFi - trustless and transparent financial products built on top of the blockchain.
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defiprime
🟡 Points Farming Opportunity Kinto is Ethereum L2 with a twist: KYC to provide a safe environment for users and financial institutions. Built using the Arbitrum Nitro stack and funded($5M) by Spartan Group, Parafi, SkyBridge Capital, Robot Ventures, and…
You can now claim airdrop and swap $K to USD at https://engen.kinto.xyz/, but it is bugged as hell.

Use a different browser if you can't log in and are stuck in a cycle between the login page and the get started page. For me, only Safari worked.

if you performed a swap and had funds stuck in the second step, do the following:

*Go to the Swap page
*Enter the same K amount you swapped before (even if it's not in your wallet anymore)
*Select WETH as the output token

The whole Passkey auth flow works like shit and requires a lot of retries if it fails (and usually it does)

This is a shitshow, but it is what it is.
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A fatal decision that shaped the current state of $ETH was choosing to scale via L2s instead of scaling Ethereum at L1.

While users begged for cheap transactions, the Ethereum Foundation - focused on abstract research over practical economics - outsourced scaling to L2s without a clear path for value accrual to L1.

The result?
L2s became parasitic - extracting security from Ethereum while competing against it for builders, community, and liquidity.
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