🪙$KILO/$xKILO Token

xKILO

Users can mint $xKILO 1:1 with their $KILO token. $xKILO is illiquid and non-transferable, and has a variety of utility functionality within the protocol.

Users which stake $xKILO in certain approved contracts will be able to support the protocol by providing liquidity for trades, and gain VIP privileges, enjoying preferential rates for trades. As their reward, they will also be able to enjoy a portion of trading fees.

$xKILO will also be used for incentivizing users and partners during operational activities, as well as for vaults and other purposes. When a user deposits $xKILO in the single sided staking pool to provide liquidity, they can earn $xKILO and $USDT for rewards. When users redeem $xKILO to $KILO, users will be able to get bonus $KILO tokens depending on how long they committed to lock assets in the pool (the percentage bonus will range linearly from 50% to 100% bonus, corresponding to 15 days - 6 months).

As a user incentive for VIP $xKILO stakers, trading fees from $xKILO single sided staking pool, ecosystem and liquidity pool, all the referral rewards and copy trading mechanism will be allocated towards a “safety” mechanism which provides downside protection when traders miscalculate the upcoming price fluctuation.

xKILO also allows users to participate in governance on the protocol, and may vote on important decisions and future development direction.