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KTX.Finance, a decentralized derivatives exchange on BNB Chain, closed a $4 million seed round led by Hashed with participation from AlphaLab Capital, CRIT Ventures, KuCoin Ventures and Sky9 Capital. The platform plans to use the new funding to expand operations and business reach.
KTX.Finance is an on-chain decentralized derivatives trading protocol that enables traders to trade against the KLP Pool, a multi-asset liquidity pool comprised of 50% stablecoins and 50% blue-chip crypto assets (e.g. BTC, ETH, BNB). Through this model, traders can trade with full custody of their assets.
In addition, liquidity providers on KTX.Finance can deposit any blue-chip asset into the KLP pool and receive the trading fees generated by the protocol.
The platform was incubated by ByteTrade Lab, a Singapore-based Web3 infrastructure and venture builder.
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