text
stringlengths 0
1.22k
|
|---|
Users can only obtain $KTC via 2 means. Users can purchase $KTC from the $KTC/$USDT pool on PancakeSwap. There is no burn mechanism for $KTC, however, holders of $KTX can stake their tokens for $esKTC and Multiplier Points. $KLP tokens can only be minted/burned through the KTX.Finance Dapp. The $KLP token only serves as a liquidity receipt for LPs. |
What are the key roadblocks or challenges that may prevent the project from succeeding? |
We believe that a key roadblock to the success of KTX.Finance would be the bearish macro environment that the crypto industry is facing. Across all CEXs and DEXs alike, trading volume has gone down drastically. |
However, we believe that a good product will eventually be adopted. We remain confident in our ability to ship user friendly products that have product-to-market fit. Additionally, most users trade on CEXs for the leveraged exposure that comes along with it. KTX will be launched on the BNB Chain. With the narrative of self-custody, having an outlet for on-chain leveraged trading on BNB Chain would help with building the ecosystem. BNB Chain has a wide user base with a long contingent of retail users who having utilized Binance are making their first forays into self-sovereign ownership of assets. The chain has consistently been in the top three of transactions, unique wallets, and Total Value Locked, providing a clear addressable market. BNB Chain is also home to protocols like Venus (lending markets), Beefy (autocompounder), key Oracle partner Chainlink and most uniquely Binance-peg asset-backed tokens in addition to large supplies of other bridged tokens. KTX can have a mutually beneficial partnership within the BNB Chain and Mantle Network ecosystem. |
What do you think will drive demand and value for your token? We believe there will be several demand & value drivers for $KTC. |
A. There is a lack of on-chain derivatives trading platforms on BNB Chain and Mantle Network. With the support of BNB Chain, Mantle Network and other leading investors, KTX.Finance will have a significant headstart. KTX.Finance is the first perp DEX on Mantle Network. |
B. KTX.Finance has a well-thought-out pipeline of “defi lego blocks” that we believe users will enjoy. By using KTX.Finance as a fundamental layer, more and more features would keep users within the ecosystem. |
What can “Boost Percentage” be used for? |
The “Boost Percentage” is the numerical result of “Multiplier Points” , a feature to reward long-term holders of $KTX. |
When $KTC holders stake their $KTC, they receive multiplier points at a fixed rate of 50% APR. Each multipler point will earn the same amount of $BNB rewards as a regular $KTX token. The APR boost that $KTC holder receives will be calculated using the “boost percentage”. The Boost Percentage is shown on Slide 8 within the KTX Deck. |
Have you engaged any third parties to conduct a code design and security audit? If so, please share the reports/documentation. |
MetaTrust |
Why GMX-like design and not GNS-like? |
While we acknowledge the flexibilities the GNS model, we chose not to adopt that model for several reasons: |
A. Higher Risk of the pool being drained |
Since everything is denominated in $DAI / Cash-Settled, traders that make a windfall have a higher chance of draining a higher % of the pool when they profit. GNS prevented this by capping the winning % on each trade at 900%. However, we did not want to implement such a feature. |
B. Oracle Manipulation |
Given that GNS had the flexibility to list exotic assets - the reliability of these assets in terms of liquidity depth and CEX price reliability is still yet to be tested. |
C. Single Stablecoin Risk |
This risk only came to light due to the $USDC saga. The $USDC saga posed a big risk to $DAI and could have potentially brought GNS to its knees. |
Such a big dependency on a single asset was a risk that our team wasn’t ready to take. |