KiloEx Launches New Hybrid Vault On Manta Network With Over 2M MANTA Deposited
In Brief
KiloEx launched its Hybrid Vault on Manta network, enabling MANTA and STONE holders to deposit and stake their assets to earn yields.
Decentralized exchange (DEX) KiloEx announced the launch of its Hybrid Vault on the Layer 2 ecosystem for zero-knowledge applications, Manta network (MANTA). Additionally, KiloEx has established a strategic partnership with the omni-chain Liquid Staking Token (LST) protocol, StakeStone (STONE).
Token holders of MANTA and STONE now are enabled to deposit and stake their assets in the KiloEx Hybrid Vault to earn actual yields. Within less than a day of its launch, more than 2 million MANTA tokens were already deposited into the Hybrid Vault. Looking ahead, the Hybrid Vault is also set to gradually support the BNB Chain and opBNB blockchains.
The KiloEx Vault acts as the counterparty for traders, with returns from the vault being directly tied to the trading activities of its users. As liquidity providers for the KiloEx Vault, users can deposit assets such as USDT, USDC, or other mixed assets into the vault and receive 30% of the platform’s revenue.
The second version of the vault is structured into two components: Base and Buffer. The Base component includes the staked funds from vault participants as well as a share of the platform’s fee income, currently set at 30%. The Buffer component encompasses all trading profits and losses, along with funding fees.
KiloEx: What is It?
It represents a decentralized exchange (DEX) specializing in perpetual contracts, operating on the BNB Chain, opBNB Chain, as well as Manta network. The platform is backed by Binance Labs, Foresight Ventures, and the Manta Foundation. It offers traders fast execution of trades, real-time market activity tracking, and a trading experience similar to that of centralized exchanges. Additionally, it provides liquidity providers (LPs) with risk-neutral positions and tailored solutions. According to DefiLlama data, KiloEx has achieved over $57.9 million in trading volume in the past 24 hours.
Recently, KiloEx initiated an airdrop event in collaboration with the Gate Web3 Wallet which is currently ongoing, inviting users to complete specific tasks for a chance to win a portion of 10,000 KILO tokens.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
