Announcing Kintsu Testnet 2.0!

We’re thrilled to unveil the enhancements we’ve been developing. We’re launching Kintsu Testnet 2.0, featuring faster unstaking along with evolving protocol contracts and new features, all shaped by your feedback. This update introduces new protocol contract versions and enables our team to ship continuous improvements as Monad Testnet evolves.

First: We’re making unstaking faster and more scalable, reducing the unstaking period from 16 days down to 3.

• Batching period is now only 24 hours.
• Unbonding period is reduced to 2 days.
• You can also choose to Unstake via DeFi by selling your sMON on a DEX for immediate liquidity.

How Unstaking Works Now

1. Withdrawal Requests: Initiate unstaking by submitting a withdrawal request. These requests are collected over a 24-hour batching period.
2. Batching: After this period, all requests are bundled and scheduled for unbonding.
3. Cancellation: You can cancel your unstake request anytime before it’s batched.
4. Unbonding Period: After batching, there’s a 2-day unbonding window.
5. Claim Your MON: At the end of the unbonding period, claim your MON directly in-app.

Second: We’re also announcing the Kintsu Faucet, giving you another way to get Testnet MON! Live very soon! 

Third: We’re also rolling out our updated new homepage for Kintsu that better reflects our ethos.

Why are we making this change?

As Monad’s testnet continues to evolve, we may continue to upgrade the Kintsu contracts. We’re building on a blockchain that’s still in its testnet phase, which aligns with our strategy: iterate, gather feedback, and refine the protocol before launch. This approach ensures our protocol will be thoroughly tested and optimized when mainnet goes live.

At the moment, Monad Testnet does not have staking, so we are currently simulating the staking experience. By making the testnet sMON contract upgradeable, we ensure that as staking functionality evolves on Monad Testnet, we can more easily adapt our contracts without disrupting users.

The key benefit is that sMON balances, positions in Liquidity Pools, and other use cases will remain intact when we make updates, providing a smoother and uninterrupted experience for users. This upgradeability allows us to iterate and integrate new mechanics as Monad staking infrastructure develops.

What does this mean for you?

• The current sMON contract address will no longer be active and will be replaced with a new sMON contract on Monad Testnet.
• Anyone who had initiated an unstake and was awaiting their MON will receive their MON back.
• Holders of the old sMON will receive an equivalent amount of the new version of sMON as part of this redeployment.
• The new sMON token contract will be updated across the ecosystem soon
• ✅ New sMON Contract Address: 0xe1d2439b75fb9746E7Bc6cB777Ae10AA7f7ef9c5

This step ensures long-term usability and composability as Monad staking matures. We appreciate your support as we work to optimize sMON for the ecosystem!

Stay tuned for updates on the new contract address and additional details. If you have any questions, feel free to ask in the community channels.

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