Klex Finance goes live on the Klaytn blockchain

Klex Finance became the first native automated portfolio management and swap protocol in the Klaytn blockchain.

Klex Finance Announcement of release On the Klaytn blockchain. According to a Saturday post in Medium, Klex Finance was the first native and efficient automated portfolio management and swap protocol to support all types of AMM pools.

KLEX is an implementation of the Balancerv2 protocol in Klaytn. The team said it is trying to differentiate itself from other teams by leveraging the features of the Klaytn blockchain. The team wrote;

“We will focus on the adoption of the Metaverse, the interactivity of the protocol, and the broader cohesion of all interactions at Klaytn. As the chain’s main portfolio management and next level trading protocol. With the benefits of a clear starter, Klex hopes to play an important role in facilitating recruitment and scaling in the very near future. “

Klex comes with a variety of features that are useful to the user. Klex’s weighted pool contains up to eight different tokens, and each token is assigned a weight that defines which part of the pool is made up of each asset.

The protocol also has a stable pool designed to accommodate assets that are expected to be traded almost equally and consistently (for example, different types of stablecoin or synthetic). These pools allow for larger trading of these assets before encountering significant price impacts.

In addition, Klex also has Liquidity Bootstrapping Pools. This will help you activate the tokens and exchange them in large quantities over time.

Klex is the only automated portfolio management protocol on the Klaytn blockchain that promises consistently reduced gas prices while simultaneously ensuring maximum capital efficiency for all swaps through its own pool product. I pointed out. The team added it.

“Users who empathize with our favorite L1 community and Metaverse vision should use Klex for all swap and pool needs. We provide community-critical balancing, swapping and arbitrage services. By providing, we are committed to aligning our vision with Klaytn’s overall needs. “

The Klex team added that the testnet will be up and running by the end of the month and the mainnet will be in August.