Place/Date: Zurich, Switzerland - February 2nd, 2022 at 1:57 pm UTC · 3 min read
Contact: Zeke Tell, Head Of Communications, Source: Kaddex
Kaddex, the powerful, gas free DEX on the Kadena blockchain, have launched their public pre-launch sale on Tokensoft (@TokensoftInc) on February 1st, 2022 at 14:00 UTC, following the recent launch of X-Wallet. Registrations remain open for the sale.
This comes following the recent launch of X-Wallet: a web extension wallet that enables seamless decentralized application (Dapp) interaction without its users ever having to leave the web browser, via the Chrome Web Store. KDX’s Public Sale will offer 50,000,000 KDX tokens (5% of the total supply) with the following terms:
Lock-up period / Percentage unlocked:
6 months / 50%
9 months / 75%
12 months / 100%
The corresponding dollar value amounts to $16,000.
Kaddex was launched in Beta in December 2021 to create the first Decentralized Exchange (DEX) built upon Kadena, and currently holds more than $500,000 in TVL on the single KDA-FLUX pair. Kadena is the first truly scalable Proof-of-Work (PoW) layer-1 blockchain network; these holdings have already proven the incredible potential of the Kaddex smart contract. Through the power of Kadena’s braided chain framework, Kaddex can deliver a gas-free liquidity pooling and trading experience while also allowing for novel approaches to liquidity provisioning and slippage controls, while being settled by the globalized security that only PoW can provide.
Besides the technical advantages brought to DeFi, Kaddex introduces its utility token – KDX – to establish true democracy and community ownership of Kaddex’s ecosystem and to implement the first financially sustainable Liquidity Mining program. This allows the community to steer the development of the platform, achieving a collective vision, while also incentivising participation in certain pairs, and therefore improving the overall users swapping experience.
All together, these technologies create a DEX and a DeFi tool suite that is positioned to not only support the Kadena ecosystem, but to create DeFi in the way it was supposed to be: open to all, community owned, simple to use and cheap to participate in. The Kaddex team is committed to ensuring the absolute best user experience. Any update will be communicated through our official channels.
We’re looking forward to the next phase of this journey, and we appreciate the community’s continued support.
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