Binance-Backed DEX, KiloEx, Launches Perpetual Trading with Leverage Up to 100x and Rewards $KILO Tokens During Pioneer Season

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.

A New Generation DEX Aims to Shake Things Up

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.

Who’s Leading the Team?

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.

Addressing Trader Pain Points: Capital Efficiency and Risk Management

KiloEx understands the struggles of traders, particularly those with limited capital seeking high leverage.

To address this, they offer a suite of innovative features:

• Decentralised Referral System: Leverage the power of your network and earn rewards for referring new users.

• Decentralised Copy Trading System: Learn from experienced traders and mirror their strategies for potential profit.
• Low Transaction Costs: Keep more of your hard-earned profits with minimised transaction fees.
• Advanced Risk Management Tools: Spread calculation models and hedge models empower you to make informed decisions and mitigate risk.

Bridging the Gap Between CeFi and DeFi: User-Friendly Interface and Fiat Support

KiloEx isn't just about innovation; it's about user experience. Their platform offers:

• Lightning-Fast Trades: Execute trades with minimal latency for seamless execution.
• Real-Time Market Tracking: Stay ahead of the curve with up-to-the-minute market insights.
• Intuitive Interface: A user-friendly design that rivals leading centralised exchanges (CEXs) in ease of use.
• On/Off Ramp Fiat Support: Easily convert between fiat and cryptocurrencies for added convenience.
• In-App Communication Features: Discuss market trends and strategies with fellow traders directly within the platform.

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.

Expanding Liquidity and Rewarding Participation

KiloEx recognises the vital role that liquidity providers play within the DEX ecosystem.

Here's how they incentivize participation:

• Risk-Neutral Positions: Minimise risk exposure while earning rewards.
• LP-Friendly Solutions: KiloEx prioritises creating a platform that benefits liquidity providers.

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.

Understanding $xKILO and its Role in the Ecosystem

The KiloEx ecosystem revolves around two tokens:

• $KILO: The native utility token used for governance, staking, and fee payments.
• $xKILO: The escrowed version of $KILO, used for revenue sharing, staking rewards, and single-sided staking.

Basically, $xKILO functions as the illiquid and non-transferable counterpart to $KILO. However, it plays a crucial role in KiloEx's incentive structure:

• Minting $xKILO:

Users can mint $xKILO in a 1:1 ratio with their $KILO holdings.

• Staking Benefits:

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.

Rewarding Early Adopters: The KiloEx Airdrop Program

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.

KiloEx Genesis Pass: Unlocking Exclusive Benefits

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:

• 20% Trading Points Boost: Earn Airdrop Points faster for a greater share of the airdrop pool.
• Exclusive Airdrop Reward: Receive a commemorative 214 $KILO token airdrop.
• Future Opportunities: More exclusive benefits and activities are planned for Genesis Pass holders.

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.

Fee Distribution and Revenue Sharing

KiloEx employs a transparent fee distribution model:

• 40% of all trading fees are allocated to the KiloEx ecosystem for ongoing development and maintenance.
• 30% is distributed to $xKILO holders as a reward for staking their tokens.
• 30% is directed towards the liquidity pool to ensure market stability.
• All referral rewards and copy trading profit-sharing are paid in $USDT using collected trading fees.

Is KiloEx Reliable?

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:

• Publicly Verifiable Smart Contracts: KiloEx's smart contract code is publicly available for inspection, fostering trust and transparency.
• Rigorous Audits: KiloEx has partnered with leading security firms, including Secure3, Ancilla, and Scalebit, to conduct comprehensive audits of its smart contracts and blockchain code. Final audit reports are published on KiloEx's GitHub repository for public scrutiny.

To view the audits information, you can find them here: https://docs.kiloex.io/kiloex/about-kiloex/audit

KiloEx’s Roadmap

Q1 2024

• One-click trading
• TPSL system upgrade
• Stake LST in Side Vault
• API SDK
• New Layer2 Support

Q2 2024

• Multi Asset Vault
• Forex Trading
• Fee Discount Coupon
• KiloEx APP
• KiloEx Genesis Pass

Q3 2024

• Hedge Tool V2
• Decentralised Copy Trading
• Multi-asset Margin

A Promising Newcomer in the DEX Arena, But Can it Stand Out?

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?