Common issues that users might encounter while using the Kinetic protocol can include issues related to transaction processing, account access, or understanding specific features of the platform. If users face transaction-related problems such as delays or failures, it's advisable to check the blockchain network status and gas fees. Sometimes, transactions can be pending due to network congestion or insufficient gas fees. Users can adjust gas fees accordingly to expedite transactions or wait for network conditions to improve.
For account access issues, users should ensure they have securely stored their wallet information and private keys. If access is lost, following standard recovery procedures for their specific wallet type is essential. Additionally, if users encounter difficulties understanding certain features or processes within Kinetic, they can refer to the platform's comprehensive documentation, seek assistance from the Kinetic community or support channels, or explore the Frequently Asked Questions (FAQs) section for guidance.
What is Kinetic, and how does it work?
Kinetic is an on chain borrow lend protocol. Supplying assets into kinetic supply markets allow users to earn interest, or extend their exposure by using it as collateral to borrow other assets against it. All borrowers on Kinetic must be overcollateralized to utilize the borrow function of the protocol.
How do I supply assets to the lending pool?
To supply assets into Kinetic:
Connect your wallet
Select an asset from the Supply tab drop down in the market you wish to supply into
Approve the asset in your wallet
Click Supply
Can I borrow assets on Kinetic?
Yes, once you have supplied an asset into the supply market, you can choose to collateralize your supply, enabling you to borrow. To borrow assets from Kinetic:
Select the asset you wish to borrow from the drop down menu in the Borrow tab
Approve the action in your wallet
Click Borrow
What are the withdrawal procedures for supplied assets?
To withdraw supplied assets:
Go to your dashboard
Select the asset that you wish to withdraw
Click Withdraw
If you have borrowed assets against the supply, the withdrawal may require maintaining collateral.
What are the risks associated with lending and borrowing on Kinetic?
Risks include smart contract risk, market price fluctuations and borrower defaults. Bridging and oracles can also introduce risks. Kinetic uses security partners like Hypernative and Shapeshifter and multiple audit partners to help mitigate these risks.
How can I mitigate risks effectively?
Monitor your loan health factor and stay informed about asset conditions and market trends. Adjust collateral or repay loans if needed.
How can I participate in the Kii Stake voting process?
To participate in Kii Stake voting, log in to your account, navigate to the voting dashboard, and cast your vote within the specified time frame. You can also delegate your vote to trusted delegators.
What security measures are in place?
Kinetic partners with Shapeshifter, Hypernative, Chainalysis Screening Tools, GeoFencing and others for code security, audits, and real-time risk management and monitoring.
How do I stay updated on protocol upgrades?
Kinetic announces protocol upgrades and changes through official social channels. Keep an eye on Kinetics' social media and website for updates and announcements.
