After an Explosive 2023, Kinetix’s Red Hot Perpetual Exchange is Preparing for an Even More Epic 2024
After a successful launch earlier this summer, the Kinetix Perpetual Exchange is now a leading platform in Web3’s fast-paced perpetuals sector. In just two months of live operations, the platform has picked up major traction amongst web3 users and achieved impressive milestones in usership, capital, and trading activity in just two months, including more than $8.5 million in total value locked (TVL) and a staggering $28 million in total volume. Of course, this kind of success was to be expected, as QuickSwap and Kinetix share many of the same developers and marketers.
The 2-month TVL and volume metrics confirm the platform has attracted a diverse and ambitious community of margin traders eager to capitalize on a volatile market environment. In just two months, the perpetual exchange has generated over $50,000 in fees. Kinetix users and community members that are actively contributing to the growth and success of the Kinetix DeFi hub receive a healthy share of rewards – a win-win for everyone. Kinetix has been continually
vocal about its community-first ethos, and distributing an average monthly allotment of $25,000 back to those who have made its DeFi hub a resounding success is a powerful statement of the project’s humility and commitment to principled decentralization.
Why 2024 Will Be the Year of Kinetix:
It’s important to note that the impressive upticks in TVL, monthly volume, and usership that the Kinetix Perpetual Exchange delivered all have taken place in a challenging and turbulent market environment. Should 2024 turn out to be an exciting and explosive year for the web3 space, no project stands more poised and prepared to capture the momentum and growth opportunities of a high-octane bull market than the Kinetix DeFi hub.
Already, Kinetix has landed an impressive partnership with Polygon ecosystem powerhouse QuickSwap, which was brought to fruition by a community vote from the QuickSwap DAO earlier this summer. With partnerships, business development initiatives, and public awareness campaigns on the horizon, Kinetix is primed to elevate the Kava DeFi scene to new heights, no matter what the market brings. With a potent and expansive community taking form, Kinetix has made a case for itself as one of web3’s most promising growth prospects for calendar year 2024.