For cryptocurrency enthusiasts, decentralised exchanges (DEXs) offer a compelling alternative to traditional centralised exchanges (CEXs).
However, DEXs are not without their drawbacks.
Limited trading options, a nascent user base, inefficient risk management tools, and clunky user interfaces plague many current derivative DEXs.
These limitations can leave traders and liquidity providers frustrated and yearning for a more robust and user-friendly experience.
Founded in 2022, KiloEx emerges as a new contender in the DEX arena, aiming to revolutionise the way users trade and manage risk within the decentralised finance (DeFi) landscape.
KiloEx has amassed over 175,800 X followers.
This next-generation peer-to-peer (P2P) perpetual DEX places a premium on empowering traders with limited capital while offering high leverage as high as 100x.
Its feature set boasts a decentralised referral system, a decentralised copy trading system, along with low transaction costs.
But where KiloEx truly differentiates itself is in its innovative approach to risk management, achieved through the implementation of spread calculation models and hedge models.
The team behind KiloEx brings a wealth of experience from the world of traditional finance, allowing them to bridge the gap between established financial concepts and the exciting, yet sometimes volatile, realm of decentralised trading.
KiloEx is spearheaded by a team with a proven track record in traditional finance. This experience translates into a deep understanding of financial markets and the intricacies involved in trading.
Zhebin (Joey) Ni, the CEO, previously served as a Senior Business Development Manager for OKX and Phemex.
Xiaochuan Gong, the co-founder and COO, brings experience from Bitget and OKX.
KiloEx understands the struggles of traders, particularly those with limited capital seeking high leverage.
To address this, they offer a suite of innovative features:
KiloEx isn't just about innovation; it's about user experience. Their platform offers:
KiloEx recognises the importance of fostering a vibrant community. Their on-ramp fiat support and in-app communication features aim to bridge the gap between CeFi and DeFi, creating a more inclusive trading environment.
KiloEx recognises the vital role that liquidity providers play within the DEX ecosystem.
Here's how they incentivize participation:
By offering trading pairs with substantial spot depth, the platform goes beyond simply replicating perpetual contracts typically found on CEXs.
KiloEx strategically collaborates with key opinion leaders (KOLs) to promote trending cryptocurrencies, thereby unlocking total value locked (TVL) through market-neutral liquidity providers (LPs).
These LPs enjoy the benefit of risk-neutral positions alongside LP-friendly solutions, while traders reap the rewards of KiloEx's suite of innovative features and its user-centric interface.
The KiloEx ecosystem revolves around two tokens:
Basically, $xKILO functions as the illiquid and non-transferable counterpart to $KILO. However, it plays a crucial role in KiloEx's incentive structure:
Users can mint $xKILO in a 1:1 ratio with their $KILO holdings.
Staking $xKILO unlocks benefits such as:
- Sharing trading fee revenue.
- Gaining VIP privileges.
- Earning additional rewards and participating in partner incentives.
- Accessing single-sided staking pools for $xKILO and $USDT rewards.
- Flexible redemption options for $KILO rewards, with customisable percentages and lock-in periods - ranging from 15 days to six months.
Early adopters are not forgotten. KiloEx is dedicated to fostering a loyal user base and rewarding early participation.
On 17 July 2024, the platform took a snapshot of all wallet addresses, marking the commencement of the Airdrop Genesis Season.
This airdrop program allocates a total of 100 million Kilo tokens (10% of the total supply) to incentivise user activity.
The KiloEx team has recently adjusted the airdrop program to better reflect the project's growth trajectory.
Under the new plan, a total of 4% of the allocated tokens will be distributed during the Token Generation Event (TGE), with the remaining 6% distributed throughout the Airdrop Pioneer Season, which lasts for several months following the TGE and extends 180 days post-TGE.
The exact amount of tokens distributed during the Airdrop Pioneer Season will depend on the final TGE date, which is still under negotiation with major exchanges.
To add on to the excitement, KiloEx has collaborated with Binance for a 3,750,000 $KILO airdrop reward.
This has also fueled a hype, resulting in a surge in KiloEx’s trading activity.
Scheduled to launch on 22 July 2024, the Genesis Pass is a unique ERC-721 token (Soulbound Token, also known as SBT) that offers exclusive benefits to qualifying users.
Those who have already met the minting criteria can claim their Genesis Pass within the dedicated platform section.
Here's what owning one grants you:
The platform will continue to roll out additional activities in the future, providing new opportunities for users to qualify for minting the coveted Genesis Pass.
Furthermore, KiloEx understands the importance of cost-effectiveness, especially for new users.
To ease the burden at the start of the new season, the platform has reduced its fee rate by 30% to 0.07%.
To maintain fairness in point acquisition, the Airdrop Points earned per 1000 USDT traded have also been adjusted downwards by 30% to 24.5 points.
It's important to note that VIPs and those enrolled in the referral program will continue to enjoy lower trading costs according to existing rules.
KiloEx employs a transparent fee distribution model:
Back on 21 March, KiloEx shared their excitement about securing a strategic investment from Foresight Ventures.
This investment follows a successful funding round earlier this year that included participation from Binance Labs, Crescendo Ventures, Manta Network, 7UpDAO, Poolz Ventures, GTS Ventures, and angel investors.
In fact, Binance Labs has already invested in KiloEx last year.
With backing from such established players, KiloEx's commitment to building a reliable decentralised derivatives platform seems well-founded.
On top of that, KiloEx prioritises the security of its platform and user funds.
This commitment is reflected in the following measures:
To view the audits information, you can find them here: https://docs.kiloex.io/kiloex/about-kiloex/audit
Q1 2024
Q2 2024
Q3 2024
Coinlive sees KiloEx as a newcomer with a feature-rich offering for crypto enthusiasts, particularly those seeking leverage and a user-friendly experience.
Their focus on risk management and capital efficiency is commendable, along with their efforts to incentivize participation through tokenomics and rewards.
However, KiloEx faces challenges. With a crowded DEX market, it needs to find a way to differentiate itself beyond its current offerings.
Can KiloEx's innovative features and backing translate into user adoption in a fiercely competitive market?
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