Kryptonite is a decentralized protocol designed to enhance the capital efficiency of assets on the Sei network. Its core features allow users to stake SEI tokens to receive a liquid staking token (stSEI), which can then be used as collateral to mint the protocol's native stablecoin, kUSD. This process allows SEI holders to earn staking rewards while simultaneously using the value of their staked assets for other DeFi activities. The project operates as a Decentralized Autonomous Organization (DAO), where governance is intended to be managed by the community.

Founded in

United States