Kima is a universal web3 settlement layer that will enable a secure and seamless transfer of assets across different blockchains and help web3 developers build cross-chain dApps. Founded by Eitan Katz, the solution arose from the need to solve several web3 issues.
Web3 fragmentation. Currently, the Web3 world is not interoperable. Multiple blockchains can’t directly communicate with each other, all existing within their ecosystems and possessing their own tokens, wallets, apps, etc.
Lack of liquidity.
Since Web3 is not interoperable, there’s a gap between the need for liquidity on one blockchain network and the availability of the primitives on another. Bridges maintain liquidity pools to increase their utility, yet the liquidity is mostly idle, waiting to be used.
Bridge attacks are one of the single biggest points of failure in crypto.
Kima offers a brand-new approach for secure, fast, and cost-effective liquidity transfer across multiple chains. Its platform is powered with secure architecture (hardware-based protection, no smart contracts, no oracles, etc.), speed and scalability (instant finality, no minting, etc.), and capital efficiency opportunities for end users (active liquidity management, adaptive rewards, one-sided pools).
The team has already launched its private testnet. Kima’s milestones for 2023 include website relaunch, public testnet release, mainnet launch, the KIMA token release, and much more.