Kensetsu is a decentralized finance (DeFi) protocol on the SORA blockchain that seeks to capitalize on concepts adopted from the Ethereum-based MakerDAO platform. It aims to offer a stable and efficient DeFi framework that facilitates seamless borrowing and lending of pegged assets.
This article will take a closer look at Kensetsu to understand what it is and how it works. We shall also explore the protocol’s native KEN cryptocurrency, predict its price through 2030, and list exchanges where you can trade them, before determining whether it is a credible cryptocurrency investment.
So, without further ado, let’s get started.
What is Kensetsu and How Does it Work?
Kensetsu is a DeFi protocol on the SORA ecosystem designed to offer a stable and efficient framework that facilitates the seamless borrowing and lending of cryptocurrencies pegged to real-world assets (RWA).
The protocol operates a multi-token system that includes a USD-pegged KUSD stablecoin, the gold-backed KAU stablecoin, and KEN, which is Kensetsu’s native cryptocurrency that is used for transactions, governance, and liquidity provision.
Kenetsu leverages smart contracts to automate operations and enforce agreements without the need for any intermediaries. It also relies on a community-driven governance model where token holders have a say in making key decisions regarding upgrades and policy changes to the platform.
The key difference between MakerDAO and Kensetsu is that the latter leverages both native and foreign assets as collateral and supports multiple pegged assets, while the former only accepts Bitcoin (BTC) and Ether (ETH) as collateral assets.
What is the KEN Token?
KEN is the native utility and governance cryptocurrency of the Kensetsu protocol. The token is used to conduct transactions, pay network fees, and provide liquidity for the DeFi platform.
The community-centric protocol allows KEN holders to participate in its governance. They can vote on key governance decisions, such as updates to the network or token allowance and issuance.
Kensetsu (KEN) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
Kensetsu (KEN) is currently trading at $0.00000056 – up 10.84% over the last 24 hours. Since the token has not been officially listed for trade on any major cryptocurrency exchanges, we are unable to provide information projecting its future price.
This section will be updated in the future.
Where to Buy Kensetsu (KEN) Token?
For the time being, Kensetsu (KEN) tokens can only be purchased on the PolkaSwap decentralised exchange (DEX) on the Polkadot network. KEN is soon expected to be available on major cryptocurrency exchanges.
Is Kensetsu (KEN) a Credible Cryptocurrency Investment?
Kensetsu is a decentralised finance (DeFi) protocol that aims to replicate the success of MakerDAO on the SORA blockchain. The platform allows users to lend or borrow cryptocurrencies by collateralizing tokens backed by real-world assets (RWA), such as gold or the US dollar.
The protocol is still in its early stages and is preparing to launch its native KEN token via an airdrop sometime soon. Kensetsu is an interesting take on the DeFi sector where it combines RWA with crypto finance to provide users with a seamless trading experience.
All things considered, I would recommend you keep a close eye on Kensetsu and be among the first to get the KEN token when it launches. KEN could be your chance to break big in crypto by becoming an early investor in a promising project.
However, as is the case with every cryptocurrency, KEN is also prone to the extreme dynamics of the crypto market. Therefore, you must conduct thorough research before making any investment decision regarding the Kensetsu protocol or its KEN token.
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