Missed perpetual dex based low cap gem like El Dorado and Level Finance, then you won’t want to miss KTX - a decentralized perpetual exchange on BNBChain with up to 50x and #RealYield. Also KTX is currently having an incentivized testnet for the early users with $KTX airdrop on mainnet!

So let’s deep dive into it with the following segments:

• What’s KTX?

• Why KTX As Brand/Project Name?

• How does KTX work?

• Is KTX just a GMX fork or Not?

• Tokenomics & Roadmap

• $KTX Token Airdrop

• Tutorial

• Conclusion

💭What’s KTX?

KTX is a decentralized derivatives protocol which enable traders to trade on-chain with up to 50x leverage. KTX is incubated by ByteTrade Lab.

KTX’s aiming to be leader in the on-chain derivatives trading by providing low swap fees, fast execution or UX and a robust & sustainable financial ecosystem with RealYield.

💭Why KTX As Brand/Project Name?

Wondering why KTX or is it inspired from FTX which was the tier-01 centralized exchange & recently collapsed. Team responded on it like this:

The collapse of FTX is a timely reminder why Bitcoin is created by Satoshi Nakamoto. The true essence and meaning behind Bitcoin and blockchain are decentralization. History should not be forgotten that there was once a history of a CEX that collapses akin to Lehman Brother of TradFi which is FTX. By calling ourselves KTX we wants to knock the F out of FTX and enabling users and hodlers to swap and trade with their own keys and assets.

We pride to be the King of The Exchange!

💭How does KTX work?

KTX is having the multi-asset liquidity model just like GMX and according to team, GMX is the closest competitor!

In multi-asset liquidity model, liquidity providers will mint $KLP token by providing stables/assets in the KLP Pool which consists of 50% Stablecoins & 50% other bluechip assets like $BTC, $ETH, $BNB. And get reward in $BNB from 70% of the platform revenue.

On other hands, traders can enjoy derivate trading with up to 50x on BNBChain and slow slippage with better UI/UX as well as trading incentives. Not only this, $KTX (governance token) token hodlers will get reward in $BNB from 30% of the platform revenue, $esKTX token & mutipler points when staked just like GMX.

📊Price Oracle: KTX is having own oracle feeder which provides real-time, aggregated prices over 6 exchanges - Binance, Bitfinex, OKX, Kucoin, Kraken and Coinbase.

💭 Is KTX just a GMX fork or Not?

According to team, GMX would be the closest competitor for KTX. However KTX team did research & identified the challenges of GMX and aiming to solve those by providing:

• A better UI/UX for traders through implementing TradingView charts and complex orders

• Social trading and extensive partnerships with other BNB Chain DeFi protocols (Bracket Labs, Asteria, Radiant Capital etc…)

• Delta-neutral vaults, option integrations and collateralized debt products to solve problems on volatility and Open Interest

KTX team also did some changes for mutiplier points by making 50% fixed APR, however GMX is having 100% fixed APR for multiplier points. So you got the answer of it.

💭Tokenomics & Roadmap

Just like other on-chain derivative dex, KTX protocol is having two tokens with max supply of 100 Million. KTX team is planning to launch on mainnet in Q1 2023.

1️⃣$KLP Token: It’s the LP token for the protocol’s trading liquidity
2️⃣$KTX Token: It’s the main utility & governance token

🧩Note: $esKTX is a locked/unvested reward token which can be converted into $KTX over a year of linear vesting.

As KTX’s aiming to be a leader in the on-chain derivatives trading space. KTX team has some other products in the roadmap for 2023.

Right now, Spots & Perps trading is available on BSC Testnet. After mainnet launch, team will focus on Trading Add-Ons like Complex Orders & Social Trading before integrating structured products.

💭$KTX Token Airdrop

KTX team already confirmed & hinted that users with more interaction on testnet or social media will get more $KTX airdrop on mainnet. So try to generate more volumes, PNL & rewards from staking.

🌟Note: Testnet participants need to place a perpetual trade within 14 days right after the Mainnet launch with a margin of 100 $BUSD to claim the KTX packages.

💭Tutorial

Let’s see how you can secure your spot for future $KTX airdrop by participating into KTX Testnet.

First use BNB Smart Chain Faucet to claim $tBNB for transaction fees on BSC Testnet.

• Visit Chainlist to add BNB Testnet in your metamask. First connect wallet, select “Include Testnets” , finally search BNB and click “Add to Metamask” button & approve to add BNB Testnet in your metamsk.

Now we’re ready to use KTX dApp on BNB Smart Chain Testnet. So let’s get started:

• Visit KTX dApp & connect wallet to start trading.

• Team deployed custom $BUSD on BSC Testnet for testing KTX dApp and $tBNB will be only used to cover the transaction fee. So we again need to claim from “Faucet” option, so click “Faucet BUSD” option to request $BUSD for trading and $BUSD will be transferred to wallet.

Now time to do some perpetual trading on KTX dApp with up to 50x leverage.

• First type the amount & set leverage and click “Enable Leverage”, then click “Approve BUSD” button to confirm approval of assets

• Finally click “Long BNB” or “Short BNB” option to confirm transaction and create order successfully.

• You’ll see the details of current positions in the left-bottom section like “Entry Price”, “Liquidation Price”, “PNL” etc.

• To close current order, click “Close” button and select order type whether “Market” or “Trigger” price.

• Now click “Enable Orders” and accept the terms of KTX, then again “Enable Orders” button to confirm.

• Finally click “Create Orders” and confirm the transaction to close current position.

Purchasing $KLP to earn 70% platform revenue in $BNB & $esKTX rewards:

• Visit KLP purchasing page & select preferable assets like $BUSD, $BTC, $ETH etc to buy $KLP

• First type the amount & click “Approve BUSD” for approval transaction

• Finally click “Buy KLP” & confirm transaction to purchase KLP

• You can sell KLP after 15 minutes of holding.

Lets buy $KTX to participate into staking to earn 30% platform revenue in $BNB & $esKTX reward

• Team’s using a fork of PCS for swapping $KTX, so use it to buy $KTX at your own risk. You can revoke the contract address after purchasing $KTX using revoke.cash

• First confirm approval transaction by clicking “Approve Token” button and click “Swap” button to purchase $KTX.

• At the top section, “Compound” option for again staking $KTX, $esKTX, Multiplier Points & claim $BNB reward. And “Claim” option for just claim every rewards from KTX dApp.

• Now click “Stake” button from KTX section, then again click “Approve KTX” for approval transaction. Finally type the amount & click “Stake” button to confirm transaction and stake $KTX for 30% platform revenue in $BNB & $esKTX rewards.

• We can stake $esKTX to get Multiplier Points and get extra boost on 30% platform revenue in $BNB.

• Click “Stake” button, type $esKTX amount and confirm the transaction

• KTX Vault & KLP Vault is available to convert $esKTX into $KTX with a linear vesting period of 12 months.

• Click “Deposit” button, then type the $esKTX amount and confirm deposit transaction to start vesting every seconds. To stop vesting, just click “Withdraw” button and confirm transaction to withdraw $esKTX and reduce $KTX or $KLP from reserved for vesting.

Now repeat these steps daily to generate more volumes, PNL & also find out bugs/errors for KTX team. Thus you will be able to secure your spot for KTX blind box airdrop on mainnet.

💭Conclusion

Well done #BitByteFams & congratulations on participating into KTX Testnet For Random $KTX Airdrop Package on mainnet. You can use the feedback form to suggest your feedbacks to KTX team.

Or Use these three channels for suggestions, feedbacks & bugs report on KTX discord server.

Join KTX Community by using the following links:

🌐 Website: ktx.finance
🐦Twitter: Twitter.com/KTX_finance
💬Telegram: T.me/KTX_officials
🤖 Discord: Discord.gg/kVXAueJEza
📚Blog: ktxfinance.medium.com

Also don’t forget to participate in the mainnet launch event for the airdrop! Get the latest content by following @officialbitbyte &  @0xSMP and never miss anything!

🤔Wanna get updated regularly, join our community.

🐦Twitter: twitter.com/officialbitbyte
🔍Telegram Ann: t.me/bitbytecrypto_ann
💬Telegram Group: t.me/bitbytecrypto