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Introduction |
KTX.Finance offers leveraged trading opportunities on major trading pairs, providing users with the ability to trade assets such as BTC, ETH, BNB, and MNT with up to 100x leverage. |
Hatched in the aftermath of FTX’s collapse in 2022, KTX.Finance went live in June 2023 with the aim of democratizing perpetuals trading for the masses. |
KTX.Finance is a decentralized perpetual trading protocol that is live across multiple blockchain network including Mantle, BNB Chain and Arbitrum. |
Mission & Vision |
KTX is driven to democratize perpetuals trading for the masses without sacrificing quality, speed and security. |
Traders in traditional financial markets and centralized exchanges are at the mercy of opaque technological stacks and market makers. This results in heightened counterparty risk, increased regulatory requirements and a single point of failure. |
This underscores the need for a decentralized, fast and trustless trading platform. |
Team & Investors |
KTX.Finance is incubated by ByteTrade Lab. |
ByteTrade Lab, headquartered in Singapore, raised 50 million USD Series A financing in June 2022 from investors such as Susquehanna International Group (SIG) Asia Venture Capital Fund, INCE Capital, BAI Capital, Sky9 Capital, BlueRun, and PCG. They are committed to creating a decentralized Internet that gives individuals ownership and control over their financial and daily Internet data. |
KTX.Finance Seed Round Announcement |
In the midst of the bear market, we raised a $4 million USD seed round financing led by Hashed. |
Other participants in the round include: AlphaLab Capital, CRIT Ventures, 100&100 Ventures, Trinito Corporation / Morpheus, GSG Asset, KuCoin Ventures and Sky9 Capital. |
Protocol Roadmap |
Brief History & Product Roadmap |
Hatched in the aftermath of FTX’s collapse in 2022, KTX.Finance went live in June 2023 with the aim of democratizing perpetuals trading for the masses. |
Some significant milestones for the protocol are listed below: |
2Q2023 |
USD 4mn Seed Round Financing |
Launch on BNB Chain |
3Q2023 |
Mantle Grants Recipient |
Launch on Mantle Network |
Cumulative Trading Volume USD 500mn |
4Q2023 |
Broke USD 1 bn in Cumulative Trading Volume |
USD 1mn in Cumulative Trading Fees |
1Q2024 |
Broke USD 2 bn in Cumulative Trading Volume |
Launch on Arbitrum Network |
Renewed Reward Campaigns / Referral Programme |
2Q2024 |
Gamified Trading Experience |
TradingView Upgrade |
Special Community Events |
Telegram Price Alert Bots |
You can view the live statistics of KTX.Finance here: https://stats.ktx.finance/ |
Fundamental Knowledge |
This section aims to provide educate new users and serve as a reference to returning users of KTX.Finance. |
Trading Engine |
Liquidity Provision | Margin Trading | Spot Swaps |
Providing Liquidity |
The KTX.Finance Liquidity Pool ("KLP") is an integral part of the protocol that enables trade execution and settlement. |
KTX.Finance Liquidity Pool Introduction |
It is important to understand KLP's role in the protocol before describing the trading process. |
KLP is an index consisting of 50% stablecoins and 50% digital assets. The allocation of assets varies depending on the network on which the protocol is active. |
You can view live composite of the KLP Pool here: https://app.ktx.finance/earn?type=klp |
To compensate depositors, KTX allocates majority of the protocol fees to depositors along with other benefits (more details here) |
Learn how to deposit liquidity into KLP here https://docs.ktx.finance/tutorials/providing-liquidity |
Market Making with KLP |
Depositors of KLP provide liquidity and acts as a market maker for perpetuals trading / spot swaps on KTX.Finance. As the counterparty to trades, the different sides of the pool caters to different directions of trading. |
Long Trades: On KTX.Finance, long trades, such as long BTC positions, are physically settled. Trade settlement occurs in the respective trading pair. Profits or losses from long positions are realized in the underlying asset itself. |
Parameters: |
Entry Price: $10,000 |
Collateral: 1 BTC |
Leverage: 50x |
Reserved Amount: 50 BTC |
Upon execution of this trade, 50 BTC will be reserved from KLP. |
The following scenarios illustrate potential outcomes: |
Exit Price = $10,100 (+1% price movement) |
Profit Calculation: 1% * 50x = 50% |
Result: The trader profits 50%, and 0.5 BTC from the Reserved Amount is paid out to the trader. |
Exit Price = $9,900 (-1% price movement) |
Loss Calculation: -1% * 50x = -50% |
Result: The trader incurs a 50% loss, and 0.5 BTC will be added to the KLP pool. |
Short Trades: In contrast, short trades on KTX.Finance are cash settled. This implies that the settlement for short positions is in USDT. |
Parameters: |
Entry Price: $10,000 |
Collateral: 1,000 USDT |
Leverage: 50x |
Reserved Amount: 50,000 USDT |
Upon execution of this trade, 50,000 USDT will be reserved from KLP. |
The following scenarios illustrate potential outcomes: |
Exit Price = $9,900 (-1% price movement) |
Profit Calculation: 1% * 50x = 50% |
Result: The trader profits 50%, and 500 USDT from the Reserved Amount is paid out to the trader. |
Exit Price = $10,100 (+1% price movement) |
Loss Calculation: -1% * 50x = -50% |
Result: The trader incurs a 50% loss, and 500 USDT will be added to the KLP pool. |
Risks & Mitigations |
1. Asset Price Changes |
LPs within the KLP pool are exposed to price movements in the underlying assets due to the pool's design. |
The value of LPs' holdings are sensitive to fluctuations in the prices of the pool's assets, reflecting the inherent volatility in the cryptocurrency market. A decline in the prices of the underlying assets may result in a negative impact on LPs' holdings. |
LPs inherently possess long exposure to the assets within the KLP pool by depositing into it. To mitigate and manage their exposure to asset price changes, LPs can short the relevant assets in their respective weightages within the pool. Creating a delta-neutral environment helps LPs balance their portfolio, offsetting the impact of price fluctuations in the underlying assets. |
KTX is working with several institutional trading houses and protocols to provide LPs with strategies to achieve market neutral returns. |
2. LPs Exposure to Trading Skew |
As KLP assumes the role of the counterparty to trades on KTX, the pool's performance is inversely linked to the success of trading activity. |
End of preview. Expand
in Dataset Viewer.
Prepare Qdrant:
mkdir qdrant_storage
mkdir qdrant_snapshots
Start Qdrant:
docker run -d -p 6333:6333 -p 6334:6334 \
-v $(pwd)/qdrant_storage:/qdrant/storage:z \
-v $(pwd)/qdrant_snapshots:/qdrant/snapshots:z \
qdrant/qdrant
Create collection:
curl -X PUT 'http://localhost:6333/collections/ktx.finance' \
-H 'Content-Type: application/json' \
--data-raw '{
"vectors": {
"size": 384,
"distance": "Cosine",
"on_disk": true
}
}'
Query collection:
curl 'http://localhost:6333/collections/ktx.finance'
Optional: delete collection
curl -X DELETE 'http://localhost:6333/collections/ktx.finance'
Get embedding model:
curl -LO https://huggingface.co/second-state/All-MiniLM-L6-v2-Embedding-GGUF/resolve/main/all-MiniLM-L6-v2-ggml-model-f16.gguf
Get the embedding app:
curl -LO https://raw.githubusercontent.com/YuanTony/chemistry-assistant/main/rag-embeddings/create_embeddings.wasm
Create and save the generated embeddings:
wasmedge --dir .:. --nn-preload default:GGML:AUTO:all-MiniLM-L6-v2-ggml-model-f16.gguf create_embeddings.wasm default ktx.finance 384 ktx_docs_20240322.txt
Check the results:
curl 'http://localhost:6333/collections/ktx.finance'
Create snapshot:
curl -X POST 'http://localhost:6333/collections/ktx.finance/snapshots'
Access the snapshots:
ls qdrant_snapshots/ktx.finance/
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