Derivatives platform KiloEx poised to shatter TVL resistance, aiming for a fresh record-breaking mark.
KiloEx Derivative Trading Platform Continues Growth
KiloEx, a derivative trading platform launched at the end of 2023, has been growing steadily over the past few months. The platform's total value locked (TVL) currently stands at $24.31 million, with a significant portion of its liquidity coming from the BNB Smart Chain (BSC) and opBNB networks.
The TVL of $24 million has become a resistance level for KiloEx, a testament to the platform's stability and user trust. Despite a recent decline in the number of active users, the platform's growth trend is characterized by its expanding multi-chain presence, increasing user incentives, and innovative decentralized perpetual futures trading model.
USDT is the most deposited token on KiloEx, holding a share of over 83% of the deposits. The interest rate for Manta-based USDT deposits is approximately 9.4%, while the average annual percentage yield (APY) for BEP-20 USDT deposits is 8.5%. Potential earnings for BSquared USDT deposits exceed 45%.
KiloEx facilitates the trading of perpetual contracts, a type of futures without an expiration date, on five networks: BNB Smart Chain (BSC), Manta, BSquared, Taiko, and opBNB. Users can trade Bitcoin and altcoin perpetuals with up to 100x leverage.
The platform's growth can be attributed to its decentralized liquidity pools, which support leveraged trading up to 50x by using liquidity pools funded by liquidity providers. This model inherently drives TVL growth by pooling user assets to back positions.
KiloEx also incentivizes liquidity providers and traders via rewards in its governance token, KILO, and additional airdrop points through participation in competitions and the ecosystem. These incentives function akin to yield or APY benefits by rewarding depositors and active users.
The platform's transparency is ensured through fully verifiable on-chain trades and settlements, while automated risk management systems monitor positions and liquidations to maintain pool solvency. Cross-margin trading allows users to collateralize multiple assets under a single account, improving capital efficiency.
Social and multi-chain integration are key features of KiloEx, with trading possible through Telegram and decentralized tools like DeBox. This merging of DeFi and communication platforms increases accessibility for users.
On September 6, KiloEx experienced net inflows of nearly $1.8 million, with USDT accounting for 99% of all deposits. opBNB accounts for 70% of KiloEx's total liquidity, with over $17 million in TVL. Manta follows opBNB with nearly $5 million in TVL.
In summary, KiloEx is growing by leveraging decentralized liquidity pools across fast, low-fee networks, incentivizing user participation with token rewards, and innovating with social and multi-chain trading features. While precise TVL and APY data are not available in the current sources, the platform’s design supports strong ecosystem growth and user engagement.
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