Kaddex has officially released its V1 DEX, a platform that allows users to access financial tools serving the Kadena ecosystem.
Kadena was founded in 2016 by leaders of JPMorgan’s Emerging Blockchain group to create the world’s first truly scalable and secure, proof-of-work, layer 1 blockchain.
The Kaddex DEX and its suite of DeFi tools, released today, benefit from innovative scaling technologies on Kadena, which pairs its multi-chain framework with gas stations allowing infinite scaling and gas-free transactions.
Released with the launch of the DEX are Kaddex’s sustainable liquidity mining program, single side liquidity provisioning, and analytics tools which greatly simplify the DeFi user experience.
Kaddex, positioning itself to be the center of DeFi adoption on Kadena, is creating an end-to-end platform.
In July 2022, Kaddex released its X-Wallet mobile app, designed to be safe and easy-to-use, pushing aside the complexities of the Kadena blockchain to provide a simple, easy-to-use experience. With more than 15 thousand monthly active users, X-Wallet is the leading and fastest growing crypto wallet of the Kadena ecosystem.
While providing the foundation of DeFi on Kadena, Kaddex will continue to push the boundaries in what has been done before in DeFi protocols, becoming a multichain scalable DeFi ecosystem built upon the only scalable PoW layer-1 blockchain, Kadena.
Kaddex CEO Nicolas Ramsrud commented “We are reaching an inflection point. With the official launch of the Kaddex DEX today, DeFi ecosystems will see the start of the next generation of decentralized finance from within the Kadena ecosystem. This is just the start of what we hope to build towards our goal of solving DeFi’s biggest challenges.”
Kaddex also introduces its native governance token, KDX, which allows its holders to accrue voting power to vote on proposals to the Kaddex DAO. It also allows users to participate in a staking program where they can stake their token to earn additional rewards.
Kaddex’s user-friendly front-end experience combined with Kadena’s novel concept of gas stations, offering the ability for the platform to pay for users transactions, offers a familiar Web2 experience with the secure, scalable, and decentralized features built for the future of finance.
