Core Quickswap members launch 50x leverage trading platform on Kava Chain

Georgetown, Cayman Islands, Aug. 30, 2023, Chainwire

Multiple core contributors of Quickswap, known for their success on Polygon, have launched Kinetix Finance on Kava Chain, a layer-1 Cosmos-Ethereum interoperability blockchain.

The Kinetix Finance perpetual exchange is tailored for users to leverage trade without the limitations of traditional centralized exchanges. It’s perpetual market allows users to leverage trade on the Kava Chain while concurrently meeting the rising demand for decentralized trading solutions.

Users gain leveraged exposure to crypto assets like KAVA, axlETH, axlWBTC, ATOM, and USDT in a secure and transparent environment.

Alexi Atlas, the Kinetix team lead, said:

“The perpetual market is not just another trading platform — it is a reflection of Kinetix’s dedication to providing decentralized solutions that empower our users. With this platform, we’re offering a unique, secure, and efficient way to leverage trade on the Kava Chain.”

At the heart of Kinetix’s perpetual market is the distinctive liquidity pool system, KLP. LPs can offer any of the initial five supported assets: KAVA, axlETH (ETH), axlBTC (BTC), ATOM, and USDT.

In return for contributing these tokens, participants receive KLP, a special liquidity token representing the entire basket. This decentralized structure, combined with the protocol’s AMM, facilitates leverage trading, allowing users to borrow based on the value of their collateral.

“Kinetix’s perpetual market boasts a suite of features tailored to cater to sophisticated defi users. Its decentralized nature guarantees that positions of any size can be taken with clarity and safety,” said Scott Stuart, Kava Chain co-founder. “And the KLP token is a nod to traditional liquidity pool systems, ensuring familiarity and ease of use for traders.”

For more updates, follow Kava Chain and Kinetix Finance on X (formerly known as Twitter).

About Kava

Kava Chain is a layer-1 blockchain combining the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, Kava Chain is a trusted choice for developers and users worldwide.

About Kinetix

Kinetix Finance is building a hub featuring perpetual futures trading and instruments on Kava, connecting the major building blocks of decentralized finance (defi).

Contact

Media manager
Guillermo Carandini
Kava
[email protected]