To participate in Klaytn’s KLEX incentive program, the Klaytn ecosystem enthusiasts are asked to add liquidity to all recently launched pools.
Holders of Klatyn-based currencies, large stablecoins, and popular altcoins can all join in the special projects.
The KLEX Finance team’s official announcement stated that the mainnet of the DeFi protocol’s public version has been live since August 26, 2022.
We are thrilled to announce the KLEX mainnet which will officially launch on Aug 26, 10am KST, approximately 24 hours from the time of posting this tweet!
Be prepared for a new level of capital efficiency and improved user AMM experience on Klaytn.
— 🚀 Klex 🚀 (@klexfinance) August 25, 2022
The team donated over $680,000 in KLAY and 9,500,000 KLEX to its pre-mining program in order to encourage crypto holders to lock liquidity into Klaytn-based pools.
The first KLEX incentives will be participated by Wrapped KLAY (WKLAY), Wrapped Bitcoin (WBTC), Ethereum (ETH), Binance Coin (BNB), Avalanche (AVAX), U.S. Dollar Tether (USDT), USD Coin (USDC), Dai (DAI) and other cryptocurrencies.
In addition to offering lucrative farming opportunities, LEX Finance markets itself as a practical and inexpensive instrument for the non-custodial exchange of Bitcoin (BTC) and major altcoins.
KLEX made a decision to “raid” its rival company, KlaySwap, a pioneering DeFi ecosystem on Klaytn, in order to improve and deepen its liquidity ecosystem. This is parallel to an event two years prior, in which SushiSwap (SUSHI) protocol did the same to Uniswap (UNI).
Liquidity pool participants will be able to deposit oUSDT/KDAI, oUSDT/oUSDC, KLAY/oUSDT, KLAY/oETH and oETH/oUSDT. A total of over $2.1 million worth of the assets is used to support this raid.
Most importantly, liquidity providers will receive compensation for their contributions to locked asset pools under the KLEX Lockdrop program.
By the end of September 2022, the KLEX tokens will be introduced through a Copper-like Liquidity Bootstrapping Pool (LBP) on KLEX.
