Decentralised perpetuals exchange KTX.Finance, has made a statement with a recent $4m round of seed funding.
KTX.Finance operates on the BNB Chain and its mission is to bring about a sea change in the arena of perpetuals trading.
This significant seed round saw participation from noteworthy investors led by Hashed. AlphaLab Capital, CRIT Ventures, 100&100 Ventures, Trinito Corporation/Morpheus, GSG Asset, KuCoin Ventures, and Sky9 Capital also played major roles in the financing round.
At the core of KTX.Finance’s operations is the intention to make perpetuals trading accessible to a broader audience. This initiative has been propelled by the increasing popularity of decentralised trading following the collapse of centralised exchanges. KTX.Finance distinguishes itself in this market by focusing on an excellent user interface, speed, and low fees, while offering multi-asset shared pool liquidity, thus deepening trading liquidity for on-chain leveraged positions and ensuring capital efficiency for liquidity providers.
The new influx of $4m funding will serve to amplify KTX.Finance’s operations and reinforce its competitive edge. With its unique model, it allows traders to compete against the KLP pool, a multi-asset liquidity pool consisting of an equal split of stablecoins and blue-chip crypto assets. This model enables traders to retain full custody of their assets while enjoying benefits like leverage, an exceptional user experience, and low fees.
Moreover, liquidity providers on KTX.Finance have the opportunity to deposit any blue-chip asset into the KLP pool and receive up to 70% of the trading fees generated by the protocol.
KTX.Finance is operated by Alphamesh and incubated by ByteTrade Lab, a Web 3.0 infrastructure and venture builder based in Singapore. ByteTrade Lab, sharing a common vision with KTX.Finance, had previously raised a considerable $50m in Series A funding back in June 2022 from investors like Susquehanna International Group (SIG) Asia Venture Capital Fund, INCE Capital, BAI Capital, Sky9 Capital, BlueRun, and PCG.
Dr. Lucas Lu, CEO of ByteTrade Lab, expressed his enthusiasm, stating, “Blockchains, as open and transparent ledgers, excel in decentralising the asset layer of the Internet. As part of this movement, KTX.Finance is leading the way in democratising the perpetuals market. ByteTrade Lab has a shared vision with KTX.Finance of more accessibility and user empowerment, and we have high confidence in the project’s ability to bring DeFi to more users globally.”
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