KiloEx сжигала токены и расширила функционал с спотовой торговлей на новых блокчейнах Translation: KiloEx Burns Tokens and Expands Functionality with Spot Trading on New Blockchains

The decentralized exchange KiloEx has burned 8,609,242 unclaimed KILO tokens from its airdrop program. Following the announcement of the token burn, the asset’s price surged by 70% within a week, climbing from $0.055 to a peak of $0.0934.

The total issuance of KILO stands at 1 billion tokens, with 211.7 million tokens (21.17%) currently in circulation. In addition to the unclaimed airdrop token burn, the platform has also eliminated 1,573,988 KILO through the xKilo vesting mechanism. Altogether, the total amount of burned assets has surpassed 10.1 million KILO, accounting for approximately 4.81% of the circulating supply.

«The token burn has significantly enhanced the deflationary effect. The market responded with a sharp increase in the price of KILO following the announcement, showcasing investor confidence in the long-term prospects of KiloEx,» project representatives stated.

In August, the KiloEx team launched spot trading on the Solana and BNB Chain blockchains. Previously, the platform exclusively focused on futures trading with leverage of up to 100x.

DEX has formed a partnership with the meme token platform Fourmeme. The companies plan to create a spot trading venue with minimal gas fees.

To attract users, KiloEx has initiated the Wealth Engine Event, offering a prize pool of 100,000 KILO/xKILO.

Participants can earn a share from the pool through trading on the platform.

The exchange also announced a strategic partnership with the Monad blockchain. Together, they will develop a next-generation spot trading platform.

The EVM-compatible Monad protocol ensures high performance, achieving up to 10,000 transactions per second, with a one-second block interval and instant finality. This integration will assist KiloEx in addressing issues related to high fees and slow transaction speeds common in most DEXs.

The partnership aims to create a trading experience that rivals or surpasses centralized exchanges in terms of speed and cost efficiency.

DEX was founded by former employees of Binance and OKX. In 2022, KiloEx participated in the sixth season of the Yzi Labs incubation program (formerly Binance Labs) and was recognized as the most valuable project. Investments in the platform came from Yzi Labs, Foresight Ventures, Crescendo Ventures, Manta Foundation, and others.

KiloEx operates across multiple blockchains, including BNB Chain, opBNB, Base, and Manta, thereby reducing dependence on a single network and enhancing resilience to overloads.