KTX.Finance’s LTIPP Proposal 🔷
A Key Summary of our Proposal
In light of Arbitrum’s announcement of the opening of their Long Term Incentives Pilot Program (LTIPP), we’ve decided to throw our hats in the ring. Because we launched KTX on Arbitrum last month, this is the perfect opportunity to further cement our place in this ecosystem.
For those who don’t want to read the full proposal and just get the important bits, we drafted this article to deliver you the need-to-knows. This will outline our proposal, what our plans moving forward are, how we’d use the grant money, and much more!
Meet the Team 🧑💻
We have an experienced team over at KTX with many of our core team members coming from various walks of life including Google, Allianz, and many others.
Let’s do a quick overview of the core team and take a look at the qualifications they bring to the table:
- Kester Wu, CEO — Notable buy and sell side experience with top financial institutions. Involved in multiple high-profile IPOs. BBA, Bachelors of Business Administration (Finance), NUS
- Naijia Zheng, Core BE — 8 years software engineering experience. Tech Lead at Google and winner of Google Tech Impact Award. Founding Engineer of Igloo, a billion dollar valuation Fintech company. BEng, Computer Engineering, NUS
- Rensheng Liu, Core BE — 8 years software engineering experience. Developed Fission Chain, a 10,000 TPS POS network. BEng, Computer Engineering, NUS.
- Chen Lili, Core FE — 6 years software engineering experience. Masters, Management of Technology, NUS. BEng, Computer Engineering, Sun Yat-sen University.
- Jonathan Phang, Growth & BD — Decade of experience in project management. Angel and Advisor to numerous Web 2.0 companies. BEng, Bachelors of Mechanical Engineering, NUS.
- Derek Low, Growth & BD — Extensive experience with SEA sell-side & buy-side advisory in elite boutique investment banks such as Evercore Asia and DNB Asia. BBA, Bachelors of Business Administration (Finance), NUS.
What is KTX? 📈
Since our beginnings on Binance Smart Chain, we have recently expanded our operations to Mantle Network, becoming the first dApp of our kind on Mantle, and finally arriving on Arbitrum in the last month. Arbitrum is a new battleground for us and thus, we’re bringing something unique to the ecosystem.
While one might look at our operations and instantly assume Perp Dex, we are actually building something much more than that.
Gaming Hub 🎮
In fact, we consider KTX to be a premier gaming platform, and that’s exactly what we plan to bring to Arbitrum. This plan is led by our ability to craft a gamified trading experience for our users.
Users can earn Arcade Points through acts like trading, staking KTC, depositing in KLP, or anything that involves actively engaging in the protocol. These Arcade Points give you access to blind boxes that can be opened for various token prizes and lottery events, along with many other games in the pipeline.
Due to our positioning in Southeast Asia, we are strategically placed to take advantage of the rising growth in web 3.0 users in the area. KTX, with our gamified design, is uniquely primed to convert these users into more decentralized applications which continues flywheeling growth for the space.
The Roadmap 🗺️
To see where we are headed for the rest of this year, check out this little breakdown:
Q1 2024
For the remainder of this quarter, we plan to spend a lot of our focus on increasing our user base on Arbitrum through some targeted campaigns.
Then we can also spend some time cultivating user engagement through community-exclusive campaigns and looking into creating our own NFT collection.
Q2 2024
Q2 is where you’ll see us shift our focus to enhancing our gamified trading experience on Arbitrum by releasing a minimum of 2 additional games, to continue diversifying our platform’s offerings.
Then we will look to give our trading UI another facelift, by updating our Tradingview integration to allow traders to monitor and adjust positions directly on the chart.
On top of that, we will be introducing Price Alert Bots which will give traders the option to receive position updates in real-time through either Telegram or email.
Q3 2024
Q3 sees us continuing the trend left by the prior quarter, adding at least 2 more games.
We will also be enhancing our trading UI further by integrating account abstraction wallets, which will give users the ability to do multiple transactions without having to sign for each one.
Q4 2024
Q4 and beyond will see us looking to enhance and upgrade our trading engine. The possibility of transitioning to a hybrid model that combines different elements of physical and cash settlement is something being actively discussed.
This upgrade could allow us to support more trading pairs and increase capital efficiency for our LPs, increasing the growth and development of our platform.
Why KTX 🌊
Because KTX is similar to other Perp Dex offerings on Arbitrum, we are extremely composable and are an easy fit for protocols looking to build on top of KTX.
In a few short weeks after launch, we already partnered with zkBridge and Vaultka, creating over 200k in TVL to Vaultka.
We are currently looking at many different potential integrations and expect to integrate with at least 2 protocols in Q2 2024, thanks in part to the Offchain Labs partnership team.
Stats 🧮
KTX also has strong numbers to build upon and is rapidly growing these metrics across 3 chains as well.
Here’s some all-time stats for you to check out:
- Total Volume Traded — $3.17B
- Total Fees — $2.6M
- TVL — $10M
Arbitrum has accounted for $177M of that total volume in just a month’s worth of liveness, showing that there is an appetite for the type of gamified trading that we can provide.
With all of the plans we have moving forward on Arbitrum, we expect those numbers to rise rapidly.
Grant Justification 🔨
We are currently asking for 500k ARB (worth $1M USD at time of writing) and we have quite a few ways to put this to use to benefit all parties involved.
One of our goals is to increase the total trading volume on KTX and to realize this, we plan on introducing fee rebates for our users. These rebates will lower trading fees for our traders, giving them an incentive to boost their volume.
We will also be using this ARB to enhance incentives for KLP depositors and Arcade Points. This will significantly increase both the KLP APR and the intrinsic value behind the Arcade Points.
To look at the exact math behind this idea, check out Section #3 of our grant application for more.
Here’s how the ARB tokens will be split amongst each of our goals:
- Fee Reductions — 50% or 250,000 ARB tokens
- Enhanced Incentives for KLP Depositors — 31.25% or 156,250 ARB tokens.
- Enhanced Mini Game Rewards — 13.75% or 68,750 ARB tokens
- Builder Incentives — 5% or 25,000 ARB tokens
Even if our grant application got denied, we still have many ways we’re currently incentivising activity on KTX including the following:
- Mini Games on Rewards Page
- KTC Staking Fee Rebates (exclusively on Arbitrum for now)
- esKTC Emissions
Looking Forward 🌄
Arbitrum’s STIP was a huge boost to the ecosystem and has seen considerable attention and mindshare being brought back to Arbitrum. We think that LTIPP will garner the same response from the users and are excited to watch it all unfold.
Obviously we’re going to continue building on Arbitrum and have huge plans to make KTX a household name in this ecosystem as the premier gaming platform. If you’re interested in a more detailed explanation of our application please check out this link!
