Introducing kBTC: A Native Kinza Bitcoin LRT Powered by Babylon

4 min readAug 9, 2024

kBTC is Live

Kinza Finance native Bitcoin Liquid Restaking Token (LRT) kBTC has soft-launched and is now live on Kinza Finance at app.kinza.finance/#/btc. During staking, kBTC, a mulitchain erc20 token, is minted and transferred to the end user on their preferred network in direct proportion to staked Bitcoin on the Kinza platform. Users can now stake Bitcoin, receive kBTC, and earn rewards by holding kBTC via Kinza Airdrop Points, as well as future Babylon incentives. kBTC can further be deployed and used in DeFi for maximum capital efficiency.

Any user with kBTC in their wallet can exchange back to BTC 1:1 (minus fees) at any time and monitor their transaction on their dashboard. During the unstaking process, the kBTC is first burnt, after which the BTC is sent to the Bitcoin address connected to Kinza Finance. Please note that until Babylon mainnet is live, unstaking is not currently supported.

Welcome to DeFi, BTC

Bitcoin and DeFi have until now been somewhat disconnected ecosystems. With Bitcoin self custody and investing, on the one hand, and EVM and multi-chain Proof of Stake (POS) chain DeFi, on the other hand. Unlike Bitcoin and Proof of Work (POW) consensus, POS chains like BNB Chain, Ethereum, Solana, Avalanche use capital to validate on-chain transactions. With the highest market capitalization of all digital assets, Bitcoin offers the largest potential source of capital that could be leveraged to secure POS chains and earn BTC stakers additional yield as validators.

Babylon powers Bitcoin staking, which enables the issuance of Bitcoin Liquid Staking Tokens. Further, re-staking can be utilized to achieve the highest capital efficiency. This allows one instance of staked Bitcoin to be re-staked and utilized to validate and secure multiple chains simultaneously, earning the end user more rewards in the process. With a Bitcoin LRT, users can earn this extra yield, while maintaining liquidity of their staked capital, which can serve as a gateway to DeFi for further opportunity. This new future has arrived. Kinza Finance BTC LRT, kBTC, welcomes Bitcoin to DeFi.

Powered by Babylon

Bablyon Chain has pioneered Bitcoin staking. Bitcoin staking frees up trillions of dollars to protect Proof of Stake chains, and gives Bitcoin holders a new source of income. Driven by a mission to realize a more secure and decentralized world, Bablyon meticulously developed an innovative Bitcoin staking mechanism that just passed Testnet phase with flying colours, which at the third staking cap had facilitated 330,000+ stakers with a secured value of 710 SBTC.

Learn more about Babylon at https://babylonchain.io/.

Kinza BTC Staking

Kinza’s native BTC LRT supports native BTC staking via Babylon, and serves as an accessible gateway for BTC stakers to enter the DeFi landscape. Users can maintain liquidity during the staking period by staking BTC to Kinza and obtaining equivalent kBTC. kBTC is a multichain asset and is distributed 1:1 (minus fees) for the staked BTC amount on the user preferred network. Kinza will re-stake deposited BTC on Kinza Finance on the Babylon protocol, giving end users returns in the way of potential Babylon Token, Finality Provider airdrops, Kinza Points, etc., while maintaining their liquidity in the form of kBTC to lend, borrow, and invest with maximal capital efficiency.

Powerful Restaking, Deep Liquidity

As an established lending protocol, Kinza Finance can leverage hundreds of millions of dollars across multiple chains (BNB, opBNB, ETH, Mantle) as a powerful liquidity hub for BTC stakers. By using the Kinza Finance platform, BTC Stakers can use Kinza money markets to use their BTC LRT to lend/borrow and seek investment opportunities across DeFi.

kBTC

Kinza Bitcoin: kBTC

Chain：Multi-chain (BSC, Mantle, Ethereum, +)

Value：1kBTC = 1BTC

Getting Started

Explore our Kinza Bitcoin staking documentation to learn more and get started with Kinza BTC staking: https://docs.kinza.finance/kinza-bitcoin-staking/bitcoin-staking

Refer kBTC Users and Earn Kinza Airdrop Points

When users deposit assets on Kinza Finance, they earn Kinza Airdrop Points relative to their total TVL over time. Following Kinza native token KZA TGE, Airdrop Points will be central to our KZA airdrop distribution (up to 5% of total KZA supply). Deposit your BTC on Kinza Finance, earn Airdrop Points for your HODL, and benefit from a 10% referral points bonus on all referred TVL).

Explore the referral page on Kinza Finance and start earning points: https://app.kinza.finance/#/referral