Mike Shishko and Tigran Bolshoi launched a blockchain company called Kinetex to change the DeFi industry completely. Their goal was to ensure a smooth and productive experience with decentralized services that were previously difficult to access and use for ordinary users.
The company was established in 2023 and quickly gained approval from industry leaders due to its innovative solutions and forward-thinking approach. Backed by Gnosis Chain and Factor and angels from 1inch and other respected DeFi projects, Kinetex is motivated to continue working for the greater benefit of the DeFi industry. The team does not limit itself, exploring ways to incorporate the latest technologies, such as zero-knowledge technology and intents, to continue enhancing user experience.
Zero-knowledge technology (ZK) has received immense popularity this last year, with many crypto projects trying to find a way to incorporate it into their products. ZK is a cryptographic marvel that has lots of use cases. Crypto-wise, it empowers users to transact, prove ownership, and interact with blockchain networks without revealing sensitive information. Along with protecting user privacy, ZK enables blockchain projects to optimize many processes. For instance, Kinetex has implemented ZK in light clients, thus being able to optimize the process of validating transactions.
The light client essentially is a simplified version of a blockchain that allows users to interact with it without needing to download and verify the entire chain. While convenient and useful, they could have been improved further, which Kinetex did. Kinetex ZK light clients have been developed to function with even less data and computational resources than their conventional counterparts. The use of Zero-knowledge technology enabled them to maintain the trustworthiness of light clients through ZK proofs. Thus, they can verify the previously unverified part of the chain by utilizing only one proof and a few public input hashes.
Kinetex uses ZK light clients in the new Flash Trade mode of the Kinetex dApp. This mode links users directly with resolvers (professional market makers). Such an approach enables Kinetex to ensure adequate liquidity without storing it. Resolvers find necessary liquidity to complete user orders, and competition with other resolvers ensures that rates and execution times remain advantageous for users. Moreover, resolvers provide users with gasless flow and guaranteed execution of transactions backed by collateral.
The second method of swapping crypto assets offered by Kinetex is Liquidity Aggregation. It streamlines the process of finding suitable liquidity for over 5,000 cryptocurrencies by connecting hundreds of sources within the Kinetex dApp. Kinetex algorithms automatically build swap routes, examining all aggregated sources to offer the optimal ones, and relay nodes automate the swap process by executing each smart contract automatically in every network. As a result, Kinetex users can enjoy the best rates and effortless user experience without staying online throughout the swap completion.
Both Kinetex modes use different approaches to swap crypto assets, but their ultimate goal is to make trading crypto more accessible, painless, and efficient for users all over the world. The team is committed to continuing their efforts because there are still many challenges that need to be overcome to ensure the growth and success of the DeFi space. One such challenge is bridging the gap between Bitcoin, the primary driver of the crypto market, and the DeFi products and platforms. To do so, the team is currently working on ZK light clients for Bitcoin.