Hotbit Exchange, a global crypto trading platform, officially listed KDX (eckoDAO) on May 4th, 2023; the KDX/USDT trading pair is now available for trading for all users of Hotbit Exchange.
eckoDAO is a Swiss nonprofit association that provides a range of decentralized finance products built on the Kadena blockchain. The native token KDX was listed on Hotbit Exchange on May 4th, 2023, at 10:00 AM UTC.
eckoDAO was created to solve the usability, gas cost, and vulnerability issues decentralised exchanges face. Starting as the first structured DEX, eckoDEX on Kadena’s proof-of-work blockchain, eckoDAO aims to create an open and inclusive marketplace for everyone. The project aims to promote community ownership and democracy by establishing a decentralized autonomous organization that is completely community-driven. The project has implemented a financially sustainable liquidity mining program that attracts liquidity providers and creates a profitable and risk-averse environment. The creation of eckoWALLET enables non-custodial digital asset ownership and provides a secure and user-friendly platform for storing and managing Kadena assets.
eckoDAO is not just a DEX anymore. It has evolved into a Kadena-based DeFi Ecosystem that supports the network and brings DeFi closer to its intended goals of being open to all, community-owned, easy to use, and to access. The project is undergoing a rebranding effort to reflect better its extended vision, values, and commitment to DeFi excellence. The new name, eckoDAO, represents a DAO that aims to advance Kadena and the PACT language through its suite of products, including eckoDEX, eckoWALLET, and eckoGOV (in development).
eckoDEX provides scalable swapping, staking, and farming solutions for mass adoption, focusing on scalability and ease of use. eckoWALLET is a non-custodial digital asset wallet emphasising user security, providing total control over their private keys and a secure environment for storing and managing digital assets. eckoGOV is a DAO portal that enables anyone on Kadena to use its modular tools to create their own DAO on-chain, inviting individuals and institutions to participate in decentralizing the entire Kadena chain.
eckoDAO is committed to continuously improving its processes, products, and services while putting users first and delivering a secure platform with exceptional service. The project also aims to act socially responsibly and ensure sound financial practices to protect clients’ assets. eckoDAO fosters a collaborative work environment to achieve common goals while maintaining clear and open communication with clients, employees, and KDX Holders.
The world of blockchain technology and decentralized finance is constantly evolving, with new platforms and innovations always emerging. However, what sets projects apart is their long-term sustainability plan, which requires hard work, dedication, and a clear, forward-looking vision to ensure the longevity of the ecosystem. From the very beginning, Ecko has internalized this approach. Although still in the early stages of development, Kadena is already making waves in the decentralized space, positioning itself to be a major player in the years to come.
Originally, eckoDAO’s name reflected its mission to become the go-to decentralized exchange for the Kadena community. However, in less than two years, the platform has achieved results beyond its initial goal. It has extended its scope to include all the additional tools and products that strengthen the Kadena ecosystem and community, starting with developing the first Kadena-based DAO and the non-custodial X-wallet, now known as eckoWALLET.
This commitment to providing a comprehensive environment built on top of Kadena’s revolutionary technology that can meet the needs of all end-users is a testament to ecko’s dedication to the Kadena community. As a result, the platform has outgrown its name, “Kaddex.” It has evolved into a complex and comprehensive ecko-system offering much more than a DEX.
About KDX Token
eckoDAO’s KDX Token has a maximum supply of 1,000,000,000 with no VCS. The team tokens account for only 5% of the total KDX supply and will vest over a period of 4 years. In line with the principles of decentralization, there will be no presence of large buyers.
KDX Token holders can participate in governance by staking their tokens, gaining voting power, and incentivizing long-term network success. Participants in governance mining will receive 0.05% of swaps, which encourages continued locking and increases their voting power.
To increase overall KDX scarcity, a large portion of the token supply has been burnt, with 10% of the total KDX supply being allocated to this purpose.
The community will receive 20% of the token supply through token sales, financing eckoDAO’s operations, and offering early access to $KDX. The DAO Treasury has been allocated 25% of tokens to ensure community-led development of the eckoDEX ecosystem.
The largest tranche of KDX tokens, 40% of the total supply, has been allocated for network rewards to ensure highly lucrative LP boosts.
Founded in 2018 and holding an Estonian MTR license, American MSB license, Australian AUSTRAC license, and Canadian MSB license, Hotbit cryptocurrency exchange is known as a leading trading platform that continues to develop and integrate various forms of businesses such as spot trading, financial derivatives, cryptocurrency investment and DAPP into one platform. Hotbit has already gained over 8 Million registered users from more than 210 countries and regions. Based on its globalized and unified strategies, Hotbit focused on the world’s emerging markets, such as Russia, Turkey, and Southeast Asia. It was ranked one of the top 3 most welcomed exchanges by Russian media in 2019. Hotbit is constantly introducing and listing high-quality crypto projects so its users can directly trade, manage, track, and analyze cryptocurrencies, making the entire experience easier for ordinary people.
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Trade $KDX on Hotbit: https://www.hotbit.io/exchange?symbol=KDX_USDT
Official Website: https://dao.ecko.finance/