Confirmed Airdrop? Kryptonite’s $SEILOR on SEI Network

Kryptonite is a Sei Network-based decentralized automated market maker and staking protocol.
Basically, Kryptonite users can use the protocol for liquid staking, leverage, and lending on SEI.
Kryptonite’s most known feature is when it introduced the concept of bAssets, or blockchain-based assets.

Among the emerging protocols today are those that enable bridging assets from one network to another. Kryptonite, a newly launched project, is allowing users to access Cosmos, Cosmos is a novel blockchain network architecture that is a network of many independent blockchains called zones, using the Sei Network, a general-purpose, open-source layer-1 blockchain that claims to address the scalability problem of exchanges for digital assets.

Read our guides about Cosmos and Sei Networks:

Kryptonite Introduction

Kryptonite (https://app.kryptonite.finance/) is a Sei Network-based decentralized automated market maker (AMM) and staking protocol.

“Kryptonite protocol is the premier SEI liquid staking platform, providing an infrastructure to ease staking for SEI users, with added features allowing users to earn compounded interest on SEI while accessing leverage,” its litepaper read.

Kryptonite Features

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Basically, Kryptonite users can use the protocol for liquid staking, leverage, and lending on SEI. It also “emerges as an innovative and multifaceted ecosystem situated within the Sei blockchain, setting a new standard for DeFi protocols.”

But Kryptonite’s most known feature is when it introduced the concept of bAssets, or blockchain-based assets. Technically, users need to stake native $SEI on the platform, receive bAssets in a 1:1 ratio, and use the bAssets for lending and staking to earn $kr36.

“By providing lending and staking options for users, Kryptonite amplifies staking strategies, unlocking liquidity within bAssets, and offers an increased flow of staked capital across multiple chains. Kryptonite aims to bring a powerful native money market to the Cosmos ecosystem, driving financial innovation and flexibility,” its developers wrote.

Moreover, Kryptonite also allows users to mint kUSD, a local stablecoin on the protocol, by restaking bSEI, a liquidity token acquired through staking $SEI. According to its litepaper, minting kUSD will help achieve a 200% collateralization ratio for the platform, helping for a more secure lending process.

Kryptonite Airdrop Guide

Providing liquidity, staking native $SEI, and restaking bSEI already allow users to earn rewards on the platform.

Since 2023, its community has been speculating about a potential airdrop due to its token launch.

But it should be noted that Kryptonite already has its own token, $SEILOR, which enables users features such as access to SEI staking infrastructure, access to the mint function, and access to special promotions.

This means that $SEILOR has already been serving for network fees and eligibility for promos and discounts in the protocol.

The abovementioned $kr36 also seems to be today’s $SEILOR, which means that the native token can also be obtained through rewards by converting $SEI into bAssets.

However, a certain ForestPhoenixLedger revealed in his Medium article that a $SEILOR Airdrop to qualified users.

To join:

Step 1: Go to https://dappradar.eco/hub/airdrops.
Step 2: Connect wallet. Accepted wallets include MetaMask (https://metamask.io/), WalletConnect (https://walletconnect.com/), Trust Wallet (https://trustwallet.com/), and Safe (https://app.safe.global/).
Step 3: Validate credentials.
Step 4: Choose the “Collect Now” button.
Step 5: On the wallet, confirm the token windfall.
Step 6: Authorize the automatic token credit to your wallet
Step 7: Wait for the tokens to be loaded.

This article is published on BitPinas: Confirmed Airdrop? Kryptonite’s $SEILOR on SEI Network

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