After a brief setback, Kinto is back in action. The token price has surpassed $5, closely approximating the pre-hack weekly average. This rebound reflects a strong community response and continued lender support. 577 ETH ($2.3M) was stolen during a hack; however, Kinto’s security measures have helped prevent further losses, and we are actively working with authorities to recover the funds. Key updates include:
* **New Ticker:** $KINTO will be used for CEX listings in an effort to avoid future disputes.
* **Liquidity Boost:** A new market maker, launching on August 18th, will improve trading depth and reduce volatility.
* **Repayment System:** Borrowers can repay their USDC loans directly with a streamlined process beginning November 15th. Early repayment bonuses of up to 10% are available. Lenders receive distributions pro-rata on November 15th.
* **Staking Schedule:** Season 2 ends on August 31st and will be followed by the release of the ARB airdrop on August 18th; Season 3 starts September 1st with the inclusion of ERA airdrop.
The Kinto network has been operational during this period, demonstrating its resilience. A dedicated page will offer more information on repayment contracts and FAQs.