We are about ready for the launch of our DEX, KDSwap.
KDSwap IDO has sold out and the Dex is going live at 1pm UTC on May 16th.
It’s a real testament to the KDA community that, as the greater crypto market was seeing some red days, demand for new projects on Kadena was still running high, so a big thanks to all of you that participated.
KDS tokens purchased from the IDO will be claimable at 1pm UTC on May 16th, and the listing price will be 0.00168 KDA per KDS. This is 5% higher than the IDO price.
The following pairs will be available on KDSwap at launch:
🔹$KDS/$KDA
🔹 $KDL/$KDA
🔹 $HYPE/$KDA
🔹$FLUX/$KDA
🔹 $BABE/$KDA
Straight away you will be able to trade all of these pairs with an easy to follow transaction history, advanced price charts with daily and weekly volume, and the ability to add/remove liquidity for any pairs.
From next week, we will be adding more KDS pairs, and enabling users to create any pairs they would like to.
This is a huge moment for us, and for the Kadena ecosystem. We have major ambitions for KDSwap and will be implementing all the features outlined in our roadmap, on or before the dates set.
All KDL liquidity will be moved from Anedak at 10am today.
We are ready for CoinMarketCap and Coingecko integration and will apply straight away. As soon as they approve our application, all tokens trading on KDSwap can be listed on CMC and CG.
KDSwap is launching on Chain 1, but we are currently putting the final touches on chain agnostic features, allowing users to use any chain they like and have crosschain transfers handled for them on the backend.
Limit orders and candlestick charts are also on the way, and we will continue adding every feature we can in order to create the ultimate DeFi experience for users.
Now let’s move onto some community questions that have been asked:
KDLaunch Tiers
With two successful IDOs completed, we can use the statistics we have on average buy price, allocations used and total participants to start reshaping out tier system. We want to include as many people as possible while still offering generous allocations in each project, making an investment in projects launched worthwhile for all budgets.
There has been some great community feedback, and the next steps for us is workshopping on adding a lower tier, with a proportional guaranteed allocation, and revising allocations for the fair distribution round to allow more opportunities for our growing user base.
Mitigating Impermanent Loss on KDSwap
If you have provided liquidity on a decentralised exchange, chances are you have experienced impermanent losses. This happens when large price variations of any asset in the pool makes it so that, even with the trading fees collected, users may still be better off holding the assets rather than providing liquidity.
KDSwap will be implementing a system that allows users to control their levels of exposure. For instance, if a user wants to provide liquidity on a pair that is likely to stay more stable, such as a larger asset like KDA paired with a stable coin, they could choose a maximum level of exposure.
If the user provides liquidity for a brand new project, and expects early trading of this token might incur high volatility against the chosen token pair, they could set the input parameters to spread their exposure as they see fit. While a market will always remain unpredictable, KDSwap will aim to use collected data to suggest levels of exposure for optimal risk/reward ratio.
This system will allow users to control their own levels of risk while also receiving guidance dictated by the data available. Further details will follow and thus far our solutions have shown great promise.
Zelcore updates
Currently users are experiencing errors when attempting cross chain transfers of the KDL token. An update is currently being pushed by the Zelcore team to implement recent changes with Kadena cross chain transfers. This is expected to be completed early this week.
This will not effect using KDL and KDS on both KDLaunch and KDSwap with your Zelcore wallet.
KDS tokens are claimed from KDLaunch on Chain 1, and KDSwap is also operating on Chain 1 so there is no need to cross chain transfer to use the Dex.
For those of you with KDL tokens on chain 3 of Zelcore, that were hoping to transfer to Chain 1 to trade or provide liquidity on KDSwap; You must wait for the Zelcore update in the next few days, or, if you do not want to wait for the update, you can send your tokens to X-wallet or Chainweaver to complete your cross-chain transfer there.
In conclusion, we want to acknowledge and thank everyone for their support.
KDSwap is here to kickstart a thriving eco-system on the Kadena blockchain. We are so excited to share it with all of you.
KDSwap goes live May 16 @1pm UTC
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