July 21, 2024
Introducing Kaddex, the cryptocurrency exchange that is built on Kadena Blockchain. Its utility token is KDX.

KADDEX DEX

Kaddex is a decentralized cryptocurrency exchange (DEX) built on Kadena Proof-of-Work (PoW) layer-1 blockchain network.

Kaddex aims at developing the true vision of DeFi by creating financial tools that are accessible to all users in terms of costs and simplicity, while also being fully decentralized. To do so, Kaddex introduces its utility token: KDX.

KDX is a mean to establish true democracy and community ownership of Kaddex’s ecosystem and to implement the first financially sustainable Liquidity Mining programme. This allows the community to steer the development of the platform, while also incentivizing participation in certain pairs, and therefore improving the overall users swapping experience. All together, these technologies enable a DEX and a DeFi suite that is positioned to not only support the Kadena ecosystem, but to create DeFi in the way it was supposed to be: open to all, community-owned, simple to use and cheap to participate in.

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KDX is also the tool for Kaddex supporters to play a central role in the DAO governance, which is designed to be completely community driven, achieving a truly integrated collective vision. Kaddex’s gas-free environment allows all users to participate in the DAO governance freely, breaking down the voting cost barrier present in all Kaddex’s competitors. Being a Kaddex DAO contributor means being rewarded for your effort in acting towards the interest of the community. This in turn improves the overall ecosystem, fostering a positive feedback loop that favors all DAO members.

KADDEX UNIQUE FEATURES

Lightning speed, at zero cost, on Kadena’s secure infinite scalability: Kaddex itself offers a number of unique features which all take place without intervention from central on-chain authorities. These are:

  • Zero Gas Fees. Gas will always remain free as the Kadena blockchain scales horizontally. As the demand for block-space goes up, Kadena can increase the number of chains infinitely.
  • Fast Settlements. Given Kadena’s endless scalability, Network Congestions will never be an issue. Together with gas-free transactions, it will ensure fast and secure settlements.
  • Liquidity Mining. LPs will have two options: either claiming 0.25% of the swapping fees in the pool native tokens or claiming the rewards in KDX tokens with a programmatic booster.
  • DAO Powered. Kaddex DAO will play a large role in Kaddex operations, controlling the parameters for individual pools. The DAO will have a strong focus on ecosystem development, working towards Kadena’s blockchain overall growth.
  • Decentralized Infrastructure. Everything from liquidity and provision to pricing and swapping is done entirely on chain. This requires no intervention from off-chain oracles. It is fully autonomous with no control by central on-chain authorities.
  • Multi-Protocol. Kaddex will be the only multi-protocol DEX with native decentralized bridges, leading to a future where users won’t have to even think about different networks, but just access value through Kaddex single platform.
  • Staking. KDX Stakers will earn 0.05% on all swaps taking place on Kaddex. This will give holders a simple way to earn passive income while still participating in the governance.

KADDEX TOKENOMICS

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The utility token KDX is a programmatic scarce resource – with a limited supply of 1 billion – that enables Kaddex to enforce its decentralized governance operations and to attract LPs.

KDX holders can also stake their tokens to claim 0.05% of every swap, proportionally to the KDX stake owned. KDX liquidity mining programme aims at incentivizing users’ participation and deepening pools’ liquidity, while at the same time keeping the KDX vesting schedule predictable and sustainable.

  • 5% Team – Team tokens account for 5% of total KDX supply, in order to strengthen the overall decentralization and to ensure long term market stability of the KDX token. Team tokens have a rigid unlocking schedule.
  • 10% Burn – To increase KDX scarcity, a large part of the token supply has been burnt.
  • 25% DAO Treasury – 25% of the tokens have been allocated to community development in order to guarantee users a long-term DAO and community-led vision. The DAO will fund future operations and developments in a completely decentralized and transparent fashion.
  • 40% Liquidity Mining – Network rewards have been allocated with the largest KDX tranche.

MEDIA CONTACTS:

Media Contact
Company Name: KADDEX
Email: Send Email
Country: United States
Website: https://kaddex.com

The post KADDEX – The Most Appealing Decentralized Cryptocurrency Exchange Built On Kadena Blockchain first appeared on PressRelease.cc.

KADDEX – The Most Appealing Decentralized Cryptocurrency Exchange Built On Kadena Blockchain first appeared on Web and IT News.

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