KLEX, an implementation of the Balancer v2 Protocol on Klaytn, has begun a vampire attack on KlaySwap beginning on August 29, 9 pm (EST) / August 30, 10 am (KST). The window for making deposits will be open for a total of 48 hours. The KLEX Raid will receive a combined sum of 600,000 KLAY tokens and 15 million KLEX tokens as its rewards. Assuming that the launch price of about $0.1 per KLEX is completely arbitrary, this would amount to a grand total of $2,100,000 in KLEX Raid awards alone.
The KLEX Raid will be the most incentivized farming opportunity available prior to the introduction of the KLEX token, and it will also provide the finest potential for mining liquidity on Klaytn. Similar to the incentive-based pre-mining pools, the migration pools will be capped to incentivize early involvement and assure base yields for liquidity providers. After the deposit window, the liquidity will be removed from KlaySwap and relocated to KLEX. After an initial deposit of LP tokens, users will have the ability to withdraw their capital in the form of KLEX LP tokens one month later.
The Importance Of KLEX RAID
KLEX Finance is confident that the Klaytn ecosystem will improve as a result of the launch of KLEX Raid for a number of reasons. The company intends to recruit new customers to the DeFi ecosystem via highly rewarded pools. KLEX Finance expects that the TVL will increase as yields increase. KLEX pools are incredibly capital efficient. However, the same order placed on KlaySwap would most certainly result in enormous slippage of more than 1% on stablecoins. This is because merely $10 million of liquidity is sufficient to enable multi-million dollar swaps between stablecoins with almost no slippage.
KLEX will develop into a one-stop shop for DEX traders on Klaytn due to the fact that it integrates liquidity across various types of bridge assets and other ecosystems by utilizing Synapse and Portal bridge. Over the course of time, its objective is to replace KlaySwap as the protocol with the greatest TVL rating on Klaytn and to construct a DeFi ecosystem on Klaytn that is really composable and interoperable. The following KlaySwap tokens may be deposited:
- oUSDT/KDAI LP
- oUSDT/oUSDC
- KLAY/oUSDT
- KLAY/oETH
- oETH/oUSDT
Leveraging Klaytn’s Inherent Advantage
KLEX is a Balancer v2 Protocol implementation on Klaytn. KLEX Finance is intent on setting itself apart from competitors by capitalizing on the inherent benefits possessed by Klaytn. The team will concentrate on Metaverse adoption, protocol interactivity, and the overall cohesiveness of all Klaytn interactions. KLEX Finance anticipates that the platform will play a vital role in boosting adoption and scaling in the very near future due to its exceptional first-mover advantages as the prime portfolio managing and next-level trading protocol on the chain.
The KLEX team deployed the KLEX Mainnet on August 26. According to the official announcement, trading and liquidity services will be immediately accessible upon the activation of the mainnet. Users will be able to trade between various assets and join/create liquidity pools at their discretion. By developing their own liquidity pools, any user or project may list their token for exchange. In addition, they can specify specific weightings if necessary or opt for 50/50 pools comparable to Uniswap-v2 style AMMs. As soon as liquidity is provided, the smart-order router will instantly pick up the pool, allowing users to trade across assets in the pool.
