FAQ
Why do we need Kima?
Web3 and crypto are currently at an inflection point which many technologies have failed to cross in the past. That is the main problem from which all the symptoms arise:
Complicated experience: New users coming into crypto and Web3 are forced to quickly understand a slew of technically intensive terms and methods just to perform simple operations that are essential for using the new products this technology enables.
Weak security: The current mechanisms and solutions are flawed. Despite blockchains being a superior solution for digital assets, blockchain-based are very vulnerable in transit between blockchain ecosystems. This is because these solutions are mostly built on technology incompatible with this purpose.
Expensive compliance: International financial regulations exist to protect consumers. But for the innovators building the future of finance, protection took a back seat to inclusivity and progress. This made compliance an expensive patch instead of an integrated solution.
Who is it for?
Anyone can use Kima’s SDK to add functionalities to their dApps using Kima’s settlement layer, and thanks to its novel approach to infrastructure design, maximum security is already built into the platform, with opt-in compliance allowing dApps to expand into the preexisting monetary system and vice-versa.
dApp builders use Kima to onboard users from any chain or no chain at all, and let Kima handle the technical or security implications, allowing builders to focus on providing a better product for more users.
Institutions wishing to implemnt Web3s use Kima to extend their solutions to additional chains without spending resources on compliance or technological feasibility,
Web2 developers use Kima’s payment functionality to easily integrate web3 solutions into their existing products, joining the next evolution of the world wide web.
What does it do?
Kima enables transfers of assets between different blockchain networks and bank accounts, using a purpose-specific chain that transacts directly with the source and target blockchains/banks. This means that sensitive funds are secured in transit and are not kept on experimental technologies prone to exploits such as smart contracts, but rather on tested solutions - such as TSS and SGX - that have endured the rigours of real-world use.
What are some typical Kima use cases?
Kima solves the problem in any situation where funds need to be sent seamlessly from one network to another without the user having to exit the application and go elsewhere to bridge funds. For example, a user may have funds on Ethereum but want to purchase from an eCommerce site which uses Polygon or Avalanche, or to add liquidity to a liquidity pool on a different chain. Removing the friction from the payment or bridging process and enabling a simple in-app experience is crucial to onboarding more users to the Web3 ecosystem. See Use Cases for a fuller description of all the things you can do with Kima.
How does it work?
Kima takes a simpler approach to settlement security: If it’s not there it can’t be hacked. This means no smart contracts, no oracles, no external relayers to trust that can be compromised. So how are funds moved without smart contracts? The technical solution is comprised of three parts:
External accounts EOAs (Externally Owned Accounts) are native blockchain wallets acting as pools. The security benefits of this are immense: No need for smart contracts on every blockchain, You can’t DDoS a wallet, and everything related to cross-contract messaging is non-existent so this is not an applicable attack surface.
TSS and Trusted execution environments Using TSS and Intel SGX technology, keys are shared between different actors without them having direct access to these keys. This means we can allow more people to run these nodes and not be worried about keys being compromised.
Efficient Liquidity management High TVL numbers only tell part of the story. Liquidity protocols need to balance between the liquidity pools to ensure a high service level. In other words, it’s not only about how much money is stored, it’s also about distributing the liquidity in a way that will serve demand in the most effective way. Kima’s Liquidity Management (LiMa) algorithm manages supply and demand and maintains equilibrium using financial incentives.
Fiat Support To allow for integration between the old and new monetary systems, Kima also employs an opt-in compliance system on the protocol level, allowing decentralized solutions access to legacy systems like Fiat payments, Stocks and Bonds. This layer will perform all the necessary checks, including KYC, AML and KYT verifications to provide a compliant record that satisfies regulatory requirements.
Anyone building in Web3 can see the challenges that Web3 compatibility brings. Instead of perceiving these challenges as independent problems with no relation to each other, Kima understands that these are symptoms of the same problem.
Kima’s solution is the first compatibility layer that solves the problem, instead of treating the various symptoms that arise from it.
Where can I see Kima working?
You can see the Kima Demo App here and read about how to use it here.
Which networks does Kima support?
See the current list of supported networks here.
Where can I read more about Kima?
You can find the Kima Whitepaper here.
How can I become a validator?
We have quick-start instructions for installing a validator node in these pages.
In what front end frameworks can I use the Kima Transaction Widget
The widget can be embedded into any React application, including NextJS. We do not currently support Vue or Angular applications. However, regardless of the framework you are using, you will be able to use the Kima back end and integrate your front end that way instead. Read the instructions here.
Last updated