Popular prediction markets protocol Kineko has just announced its migration from Ethereum to Solana in an effort to improve their user experience. The company has gained substantial momentum since launching on the Ethereum network. In fact, Kineko has a volume turnover totaling over $41 million, making it one of the proven leaders in the crypto betting space.
In recent months, Kineko’s team took a step back to evaluate the efficacy of the Ethereum network and its ability to scale and work for the dApp as well as their users, both from a logistical and financial sense. The result of this ongoing dialogue was the decision to migrate to Solana.
Why Solana is the Right Solution for Kineko
It is no surprise that Ethereum has been struggling to scale and as a result has come face to face with millions of new users that are experiencing sky-high gas prices, long transaction times, and other issues. For example, users wanting to complete a simple swap or contract interaction are often paying over $100 in fees, making Ethereum an inconvenient option for protocols and projects that operate on transaction volume.
Thankfully, Solana exceeds where Ethereum falls short. Within the Solana network, transactions are vastly faster and cheaper, making it cost efficient for bettors, liquidity providers, and for all stakeholders in the project. Users can expect improvements in the speed of bet settlements, payouts, and deposits being credited to betting accounts.
With the migration complete the Kineko token can be purchased on Raydium and staked for around 200-300% APY, or alternatively if users wish to bet, $KKO gives a 2% discount on all sports bets. With the global betting market worth over $250 billion, it seems now people are beginning to understand the power of a high throughput low cost chain, marry that with a great UI/UX experience and you have a product that can truly scale.
Kineko Casino is now open and is offering a bunch of great adventures such as their Sports Betting markets, Poker games, Slots, Blackjack tables or Roulette. Their Live Casino is open 24/7 so users can enjoy over 500 games and options at their convenience.
Check out the latest odds in the Premier League, La Liga, Serie A, Bundesliga, Ligue 1, NFL, NBA, Horse Racing, DOTA 2, King of Glory, LOL and much more on Kineko. Stay up to date with all of the up and coming announcements by following Kineko’s website, Discord, and Twitter profiles.
The post Popular Prediction Market Protocol Kineko Migrates to Solana appeared first on Blockonomi.
November 19, 2021 at 07:52AM https://blockonomi.com from Blockonomi https://ift.tt/3FzaiiC
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