Klex Finance has become the first local automated portfolio management and swap protocol on the Klaytn blockchain.
Klex is finance announced the launch On the Klaytn blockchain. According to a Medium post on Saturday, Klex Finance said it is the first native and efficient automated portfolio management and swap protocol that supports all types of AMM pools.
KLEX is an implementation of the Balancer v2 protocol on Klaytn. The team said that it wants to differentiate itself from others by taking advantage of the features of the Klaytn blockchain. The team wrote;
“We intend to focus on metaverse adoption, protocol interactivity, and broad harmonization of all interactions on Clayton. With distinctive first-mover advantages as the leading on-chain portfolio management and next-level trading protocol, we expect That Klex will play an essential role in promoting adoption and scaling in the near future.
Klex comes with a variety of features that the users will benefit from. The weighted pool on Klex consists of 8 different tokens, and each token is assigned a weighting that defines what fraction of the pool is made up by each asset.
The protocol also has stable pools designed to accommodate assets that are expected to trade at constant parity (for example stablecoins or different varieties of synthetics). These pools allow for larger trading of these assets before they face significant price impact.
In addition, Klex also has a liquidity bootstrapping pool, which is useful for launching tokens and swapping large amounts over time.
Klex explained that it is the only automated portfolio management protocol on the Klaytn blockchain that can be committed to ensuring maximum capital efficiency on all swaps as well as consistently reducing gas fees through its proprietary Pooled products. The team said that;
“Users who identify with our favorite L1 community and metaverse vision should use Klex for all of their swap and pool needs. We are committed to aligning our vision with Klaytn’s overall needs by providing the community with essential balancing, swapping and arbitrage services. ,
The Klex team said that its testnet will go live before the end of the month, while the mainnet will be in August.