Technical Details

From BTC to kBTC and Back

When users stake BTC to Kinza, the BTC is deposited into Cobo MPC (multi-party computation wallet). The MPC Wallet is jointly managed by Cobo, Kinza and Coincover.
When it is detected that the user stakes (deposits) BTC on the BTC chain, the user who successfully staking will receive kBTC on their preffered network to their connected EVM wallet. kBTC can be freely traded. 1BTC=1kBTC (minus fees). For details about kBTC, see kBTC.
After the user stakes BTC to Kinza (deposited into Cobo MPC), the BTC will be staked to Babylon again, and any generated future income will be distributed to kBTC token holders in a pro-rata manner.
After the user selects a certain amount of kBTC to unstake, the kBTC is first burnt on the relevant EVM chain. At the same time, Kinza will start to unstake in Babylon, and after the scheduled unstaking period, the BTC will be transferred to the BTC wallet address connected when the user performs the unstaking operation.
History of the users Bitcoin staking transactions can be reviewed directly from the BTC staking dashboard.

Last updated 4 months ago