KryptoDEX Launches on Cronos
San Salvador, El Salvador---(Newsfile Corp. - November 24, 2021) - Inspired by Krypto's mission to build the future of the Internet - Web3, InterDeFi is thrilled to announce Krypto's plan to join the Cronos and Crypto.com ecosystem with KryptoDEX.
KryptoDEX is powered by InterDeFi with many winning components: a DEX with a very attractive trading fee, a launchpad with great IDO track record, a NFT marketplace, unique 3-type referral system and more. Just like Crypto.com, they are building day in day out to give users control over their assets, identity and data.
InterDeFi is a defi ecosystem built with a multi-chain & cross-chain approach from the start. InterDeFi started with PolyDEX on Polygon in May 2021 and then CeloDEX on Celo in November.
They are offering a suite of defi products, from AMM DEX, Aggregator, Farms, Launchpad to Vaults and NFT marketplace. They aim to be the link across blockchains and platforms as this space moves forward multichain verse.
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KryptoDEX AMM + Aggregator
Krypto's automated market maker is built upon the battle-tested Pancakeswap at Binance Smart Chain, PolyDEX at Polygon and CeloDEX at Celo, offering traders and liquidity providers the best way to exchange tokens and earn trading fees with maximum flexibility and efficiency.
Moreover, KryptoDEX will also be a DEX aggregator, giving users the most optimized token swapping experience with lowest slippage and best possible rate across all DEXs, via Krypto's multi-routing protocol. KryptoDEX will aggregate CronaSwap and VVS.finance at the beginning and will expand further to other DEXes at Cronos.
With a user-oriented approach in mind, they have built KryptoDEX's UI to display the multi-routing in real-time so you can view it clearly before confirming any transactions.
KryptoLAUNCH is a decentralized multi-chain fundraising platform enabling projects to raise capital. They help to connect legitimate, capable teams with early stage investors and vice versa. With the expansion to Cronos, KryptoLAUNCH will help all good potential projects to launch on Cronos while allowing users from other chains to join with ease.
Yield Optimization, Vaults, is always an important tool for both investors and projects. KryptoVAULT will provide investors the powerful tool on Cronos with automatic high compounding interest rates on their liquidity. They also seek to onboard reliable liquidity farms, assisting projects in building their liquidity.
Performance fees accumulated from KryptoVAULT will be used to support both KRX and other ecosystem tokens throughout its lifetime.
Following the successful PolySTORE launch on Polygon, They will bring this NFT market to Cronos, allowing users to sell, buy NFTs on the fly.
NFT Market will be launched later at suitable timing.
Any fees accumulated from the NFT market place will also be best utilized to benefit Krypto's ecosystem shareholders.
KryptoDEX (KDX) Tokenomics
KryptoDEX has announced its first distribution program for the next year to build up initial liquidity.
The official KryptoDEX token is KRX and its official token contract is 0xF0681BB7088Ac68A62909929554Aa22ad89a21fB.
On the initial launch, each KRX price will be set at $0.20. There will be a maximum supply of 100,000,000 KRX tokens. From this figure, 10,000,000 KRX (10%) is set aside for the Developer Fund. At the same time, another 10,000,000 KRX tokens (10%) have been allocated to the Marketing Fund. Another 20% of the Maximum Supply, that is, 20,000,000 KRX tokens, has been set apart for Vault Incentives, and 5,000,000 KRX tokens (5%) are under the control of the Treasury.
To incentivize liquidity providers and to spur participation, the KryptoDEX team has set aside 53,500,000 KRX tokens (53.5%) for Liquidity Incentives through Farming and NFT Farming. In the early stages of KRX listing, the team wants to build rapid liquidity. They have allocated 500,000 KRX (0.5%) of the Maximum Supply as the Initial Liquidity. Meanwhile, one percent or 1,000,000 KRX (1%) will be distributed to PLX and CLX holders as an Airdrop.
KryptoDEX Farming Pools started on Saturday, Nov 20th, 2021, at 2 pm UTC. There are 16 initial farming pools with different allocations. The KRX/CRO pool has the maximum allocation of X10, followed by the KRX/USDC pool with a weighting of X6. The third most lucrative pools for liquidity providers will be the KRX/CRONA, KRX/VVS, and the CRO/USDC pools with an X2 allocation. The rest--WBTC/USDC, WETH/USDC, BNB / CRO, WBTC/WETH, USDT/USDC, DAI/USDC, DAI/USDT, BUSD/USDC, AVAX/CRO, MATIC/CRO, and FTM/CRO pools will each be assigned a 1X allocation.
However, the team notes that allocations can be adjusted accordingly depending on pool demand. Besides, farming rewards will be locked for the next year and vested for an extra year after that. In addition to their locking and vesting schedule, KryptoDEX also has a staking program with locking periods varying from immediate release or no locks, a seven-day, a 30-day, and 180-days locks with an X2, x5, and X10 distribution rates, respectively.
Let's peer over the edge. Embrace the moment and commit.
Telegram group: https://t.me/InterDeFi
Announcement channel: https://t.me/InterDeFiAnnouncement
Company name: KryptoDEX
Parent company name: InterDeFi
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104955