Klex, a new DeFi app operating in the Klaytn ecosystem, just went live. It is a liquidity and trading app that is similar to Balancer, but with some special features. DeFi holds incredible promise for the global financial system, and Klex is the newest part of the DeFi revolution.
With the launch of the mainnet, trading and liquidity provisions will be live. People can use Klex to trade many kinds of assets, and also create and join liquidity pools. With this new platform, anyone can list a token.
With the launch of Klex, there are many other offers that give users a way to earn tokens easily. There will be staking rewards, and a lot more to come from Klex. In addition to fast and secure transactions, Klex is working to boost liquidity for tokens that want to find investors.
Klex is Here to Boost Liquidity
DeFi, like any financial market, it all about liquidity. Klex allows users to choose specific weightings, or use a classic 50/50 weighting, like Uniswap-v2 style AMM. The system is automated, and when liquidity is added to a pool, a smart-order-router will make the swaps happen.
There is also an incentive mechanism to add liquidity to community pools, and the team at Klex is happy to help projects make this work. With more liquidity, smaller projects can grow, and help the global DeFi ecosystem with unique ideas.
After the Klex mainnet is live, the project plans to introduce pre-mining rewards. Around $680,000 in KLAY as well as 9.5M KLEX are going to be available for pre-miners with a one month maximum for the program.
According to a Medium post:
The following liquidity pools will be incentivized with KLAY and KLEX rewards:
Synapse USDT/USDC/DAI Stable Pool
Wormhole USDT/USDC/DAI Stable Pool
Synapse USDT / Wormhole USDT / Orbit USDT Stable Pool
Wormhole USDT / WBTC / ETH (33% Weighted Pool)
WKLAY / WBTC / ETH / BNB / AVAX (20% Weighted Pool)
WKLAY / USDT (20% / 80% Weighted Pool)
WKLAY / USDT (80% / 20% Weighted Pool)
Earn Rewards With the KLEX Raid
Klex is launching a vampire attack campaign on KlaySwap, and the event is set to happen next week. The deposit window will only be open for a few days, so keep an eye on the Klex Medium account for more info. In total, $600,000 in KLAY and 15M KLEX tokens are being allocated for the raid, so this is a way to grab some tokens if you want to participate.
The raid will allow these KlaySwap pool tokens for deposit:
The migration pools are going to be capped, so early adopters will get some great rewards. After the deposit window, the liquidity will be migrated to KLEX. After 31 days, everyone can take their principle out in the form of KLEX LP tokens.
A Welcome Addition to Klaytn
Klex is the latest addition to Klaytn, a BFT-based blockchain that has been live since 2019. It offers immediate finality, as well as a very high TPS rate that is built for scalability. These features will help Klex to compete with other swap platforms, and make its mark on the world of DeFi.
It is exciting to see so much development at a time when the crypto markets are under pressure.
DeFi is the future of finance, and with simple DeFi tools that operate on inexpensive mobile devices, people can access advanced financial services. Klex is making liquidity easier, and as the platform grows, more people will be able to access top-tier financial services from anywhere in the world.
The option to list tokens on Klex is great, and creates an on-ramp for projects that want to find liquidity in the market. To learn more about Klex, or keep up with all the developments, just click here!
The post Klex Goes Live on Klaytn: An Automated Portfolio & Trading Platform appeared first on Blockonomi.