KTX Finance Traders Pulse👻
April 2024 Edition
TLDR 📜
- Highs after highs! We passed over $6.4B in total trading volume! 💰
- Partnerships with Ethena and BounceBit! Continuing our trend of great partners
- Printing machine go brr! Over $5.3B in total fees generated by the protocol!
- Updates, Improvements, and More!
Post-Halving 📈
The Bitcoin halving has now come and gone, leaving behind a small amount of destruction in its wake. Turns out, it was a sell the news event!
Bitcoin’s halving eventually led to a 15% drawdown on just BTC alone, with some alts drawing down more than 20–30%. The market decided to wash out Open Interest and cause a bit of fear before moving off the lows at 56k.
We’re starting to see bullish sentiment creep back up, which means more trading volume and more rewards for our dutiful users!
But that’s not all:
We’ve got some impressive stats to share as we smashed through old records, new partnerships with top tier teams, and slick product upgrades in April.
KTX Stats 🧮
Yet another great month!
KTX has achieved more than $6.4b in total trading volume, $10.2m in TVL, and over $5.3m in fees generated! Mantle led the way here with the most volume and fees generated over the month of April, with Arbitrum in a close second.
April, presumably due to the halving, was a month with a strong increase in volume and fees. Let’s dive into the numbers here so we can get a clearer picture!
Mantle Stats 📈
- April TVL — $4M
- April Trading Volume — $1.2B
- April Fees — $940K
BSC Stats 🟡
- April TVL — $977K
- April Volume — $275M
- April Fees — $200K
Arbitrum Stats 📊
- March TVL — $1.4M
- March Volume — $695M
- March Fees — $604K
Partnerships 💻
At KTX, we strive to forge partnerships with teams, projects, and chains that are pushing the blockchain space forward through innovation. This is evident through our deployments on Arbitrum, Mantle, and now our partnerships with BounceBit and Ethena.
Our pool of partners is only growing stronger! So without further adieu, let’s get into what makes these 2 special!
Ethena 🪙
Ethena has turned into one of the most talked about projects in Crypto in a very short amount of time. It launched to much fanfare due to its high yielding stablecoin and the manner in which the yield is achieved.
Ethena’s USDe is inspired by an article by Arthur Hayes on making a sound stablecoin, ideally derived from funding rate arbitrage on Bitcoin perpetuals. Now this didn’t happen exactly that way as Ethena chose to use ETH perpetuals to start out (and have since started to add BTC perps) but the end result has been the same.
This has made USDe into a very valid stablecoin option for all users and has been integrated into numerous different DeFi applications, like us!
Which is why KTX has partnered with Ethena to integrate it’s stablecoin, $USDe, and native token, $ENA, into KLP.
KTX users can now trade $ENA perps with up to 100x leverage, swap $ENA and $USDe with zero slippage, and earn stable KLP yields with $USDe deposits!
Read through the full announcement here for more details!
BounceBit 🐉
The Bitcoin narrative is getting stronger and stronger with each passing year, and 2024 has been no different. With the halving and ETF launches, BTC is primed to continue its dominance over the Crypto space. Everyone follows the King.
So it’s not a stretch to say that the uprising of BTC L2, BTC DeFi, and now staking for BTC, is a highly anticipated evolution of BTC.
Which is why KTX has also partnered with BounceBit, the first-ever BTC restaking chain to bring perpetual trading to BounceBit’s rapid growing ecosystem. BounceBit is leading the restaking narrative on BTC and falls in line with our views on forward-thinkers in Crypto.
Check out the full announcement here!
Product Improvements 💻
KTX prides itself on constantly making improvements to bring you the best user experience. In April, we pushed multiple upgrades to our UI so we can keep giving users a fresh canvas to work with.
The launch of “My Portfolio” provides users with comprehensive insights into asset status, profitability, and transaction history on KTX platform.
This includes features such as:
- Overview — A comprehensive account snapshot, including contract accounts, staking accounts, and position details.
- Portfolio — Investment income analysis for informed decision-making.
- Positions — Real-time visibility into current positions and unrealized gains or losses.
- Staking — Detailed statistics on staked KTC and KLP, along with earnings and vesting esKTC data.
- Rewards — Comprehensive data on activity-based rewards.
- History — A complete archive of contract transactions, swaps, KLP Pool activities, KTC staking, and rewards.
Take a peek at the medium article for the full list of features and screenshots!
That’s not all! Some sharp users may have also noticed that the rewards page went through a fresh revamp too!
Take a $PUFF 🚭
Users can earn $PUFF from Blindbox guaranteed Rewards on Mantle simply by completing tasks on the left of the Rewards page below. These tasks will get you more Arcade Points to use towards more blindboxes.
Everybody gets to win something by opening their Blindbox with 10 token rewards up for grabs! Our dedication to celebrating the Mantle ecosystem is what drove us to include $PUFF in our rewards.
Plus, it’s a magic dragon, what’s not to like?
Mantle Moonshot Airdrop Phase 2 🪂
Phase 2 of the 1M $KTC airdrop on Mantle went live in the last week of April.
For those who are yet to claim it, simply head over to the Rewards page on KTX platform and claim it under “Mantle Moonshot Airdrop”.
On the Horizon 🌄
Man, what a month! We’ve launched on new chains, acquired new partners, and continuously improved our UI, what could possibly be next?
Well, now that the halving has ended, our eyes are facing forward for what we hope is a nice, long bull market! History is on our side for this type of thinking so we’ll see how this all plays out.
While we keep pushing forward, you can guarantee that we will keep on pushing the envelope of innovation and partnering up with best in class projects and chains to integrate with.
As they say, this is only the beginning!
Stay tuned to our official channels for all our announcements, and don’t blink or you might miss something!
