KTX Finance is known for taking a proactive approach to decentralized finance (DeFi). One of the main ways it plans to achieve that is by forming strong partnerships within the industry. Here’s a rundown of the latest updates including KTX's strategic partnerships with BounceBit, Timeswap, Merchant Moe, and more.

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Integrating BTC Yield Farming Through BounceBit

KTX Finance and Layer 2 Bitcoin restaking chain BounceBit are collaborating to pave the way for new opportunities for Bitcoin users. BounceBit changes the game by letting BTC holders earn yields on their assets— something that previously wasn’t possible. Its integration with the Ethereum Virtual Machine brings smart contract capabilities to the Bitcoin network, opening the door to a range of decentralized applications and seamlessly integrating both native BTC and wrapped BTC assets. Through this partnership, KTX users can now use their BTC holdings in ways that were previously limited to the Ethereum ecosystem—such as lending, borrowing, and yield farming directly with BTC.

BounceBit’s infrastructure, combined with KTX’s trading and financial services, is a perfect combo for users who want to do more advanced trading strategies using their Bitcoin assets. For KTX users, getting to participate in Bitcoin-related DeFi activities opens up new ways to diversify their portfolios and earning potential.

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Expanding Liquidity and Financial Products with Timeswap

KTX.Finance has also partnered with the automated market maker Timeswap to offer seamless lending and borrowing services. Known for its efficient and user-friendly platform, Timeswap perfectly complements KTX’s existing trading infrastructure. Now, KTX users can freely lend their assets to earn interest or borrow against them to leverage positions without the need to liquidate. This added flexibility allows traders to adapt their strategies based on market conditions effectively.

Beyond basic lending and borrowing, the collaboration extends to offering collateralized debt positions (CDPs), yield farming opportunities, and structured financial products involving multiple asset classes. With the tools provided by Timeswap, users can manage risk more effectively and optimize their returns by tailoring their investment strategies with more precision. As an added benefit, pooling resources with Timeswap contributes to the liquidity available on KTX’s trading platform.

Overall, it’s a major step towards achieving KTX’s goal of providing its users with a versatile trading environment where they can effortlessly transition between various financial activities—such as trading, staking, lending, and borrowing—all on the same platform.

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Boosting Community Engagement Through Mantle Missions

Another thing to look forward to is the Mantle Missions, made possible through partnership with both Timeswap and the Mantle-powered decentralized exchange Merchant Moe. The total prize pool is 20,000 $MNT, split evenly between the two partners. With Merchant Moe, participants get to deposit or stake their tokens into various liquidity pools in exchange for rewards and governance tokens that give them a say in platform decisions. All rewards are managed by smart contracts to make sure that every user gets fairly rewarded based on their contributions. There will be a total of 1,000 winners of 10 $MNT each.

Meanwhile, the Mantle Mission hosted by Timeswap revolves around the MNT/KTC lending vault. 1,000 participants will each take home 10 $MNT from the prize pool of 10,000 $MNT. Users get to lend their tokens for interest or borrow using their tokens as collateral, and those who frequently lend or borrow benefit from lower borrowing rates and higher returns on their lent-out tokens. It’s KTX’s way of rewarding active users for contributing to the platform’s liquidity. Plus, regular lenders and borrowers also get first dibs on KTX’s newest features.

These activities kicked off this May in hopes of building a more sustainable and engaged community around KTX’s ecosystem. The launch of the MNT/KTC pool in particular is expected to be a boon for $KTC holders. Hopefully, it will help propel the token to a blue-chip collateral asset on Mantle.

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Lowering Costs Through Mantle Fee Rebates

KTX Finance has also launched the Mantle Fee Rebate Pilot Program, which provides a generous 75% rebate on trading fees to Mantle users. (For example, if a trader spends $100 in fees, they would receive $75 back in the form of $MNT tokens.) To make the program more sustainable, there's an imposed cap of 100 $MNT tokens rebated per wallet. The pilot campaign runs for two weeks, from May 1st to May 13th, 2024, with an allocation of 20,000 $MNT. 

During this time, traders’ weekly fees will be tracked and all transactions and rebates will be recorded on the blockchain. After the campaign, the $MNT rebates will be sent to the participants’ wallets. Any accounts found to be involved in wash trading or Sybil attacks will be publicly exposed and disqualified from the program.

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KTX’s Growth Statistics

KTX’s recent growth metrics highlight its continued growth in the DeFi space. Since the implementation of various strategic initiatives, including the Mantle Fee Rebate Pilot Program, KTX has seen a significant increase in trading volume. Within just 30 days, KTX facilitated over $6 billion in trading volume and generated $550,000 in fees.

KTX boasts a lifetime user base of 31,000 unique traders and counting, with an average of around 150 daily active users. This much engagement is actually quite impressive given the competitive nature of the DeFi space. Compared to other platforms in the market, KTX shows a remarkably high Total Value Locked (TVL) to Daily Average User (DAU) ratio of 80,000. The DAU count also continues to rise.

KTX Finance remains dedicated to pushing the boundaries of what is possible in DeFi through innovation and strategic collaborations. The partnerships with BounceBit and Timeswap, alongside initiatives like Mantle Missions, showcase KTX's commitment to enhancing its platform and serving its community. As KTX continues to evolve, we can expect more partnerships and incentives for the community to play an active role in its quest to revolutionize decentralized finance.