Featured Use Case: Kintsugi & Shiden
Introduction: Kintsugi and Shiden
What is Kintsugi?
Kintsugi is interBTC’s canary network (an early and highly experimental version of interBTC where new features and risk-friendly parameterizations will be released first and tested). Kintsugi brings radically open Bitcoin to Kusama via kBTC — the first fully decentralized and economically trustless 1:1 BTC-backed asset. Users can always redeem kBTC for BTC, or will be reimbursed in collaterals at a beneficial rate — as such, users only trust that Bitcoin and Kusama are secure. kBTC will help kickstart liquidity on parachains such as Karura, Moonriver, Shiden — and offer new BTC DeFi products.
What is Shiden?
Shiden — is a dApp hub on Kusama that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. The network is built as Astar’s sister network with nearly the same codebase. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines.
Kintsugi & Shiden = cool opportunity to earn on Dapp
1) kBTC for SDN
Using kBTC on Kusama swap it for SDN tokens which we can be used for DApp staking. What is dApp staking? Users can nominate their Shiden tokens on the project. At every block, half of your block rewards are used for dApp staking. This reward is further divided into a 4:1 ratio between operators (developers) and nominators.
2. Become a collator in the Shiden/Astar network
In addition to the opportunity to become a nominator, you can run a node and receive rewards (%10) from the annual inflation in the network.
3. Compatibility with WebAssembly and Ethereum network
Thanks to the Shiden multichain infrastructure, the kBTC smart contract can exist on any network.
4. Using kBTC in a multi-chain DAPPs
The ability to use kBTC in various applications built on Shiden/ASTAR.
5) Bring kBTC to Solana, Cosmos, Avalanch, Dfinity networks
Since Shiden will use a full-fledged Web Assembly, this will allow kBTC to be moved to other popular networks. Already this year, Shiden plans to launch bridges in BSC and Cosmos. And in the 1st quarter of 2022 to implement bridges in Solana, Definity, and Avalanche.
That’s great! How do we get this?
To enable these use cases, Kintsugi must go live on Kusama — that is, win a parachain auction slot.
Also join Astar Crowdloan in the nearest Polkadot auction.
Check out the list resources/docs/social media channels on Linktree