The native token of Kinto Network, $K, functions as the platform’s main governance and utility token. It is used for staking USDC to earn rewards, mining incentives, participation in Nio elections and treasury proposals, serving as collateral in lending markets, and smart wallet features such as identity, insurance, and recovery.
In the past 24 hours, K has lost 85.25% of its value, ranking among the steepest decliners.
The decline may have been driven by Kinto’s announced shutdown, skepticism surrounding its high-yield model, and the negative perception caused by past security vulnerabilities.
