You know what they say:
“Time really flies when you’re heads-down developing a state-of-the-art DeFi hub.”
At Kinetix, 2024’s opening act flew by at lightning speed — but not without a wild ride filled with major technical innovations, product launches, news releases, and most important of all, vigorous community growth. If you didn’t have time to catch all the exciting events as they unfolded, don’t stress.
Today, Kinetix is proud to release the inaugural edition of a quarterly wrap up series that covers all the news, events, and developments in the Kinetix ecosystem over the course of the previous 3 months. Best of all, every single line item is backed by a thorough digital paper trail of X posts, blog posts, featured articles in industry publications, and on-chain data aggregated by the one and only Kinetix Analytics Dashboard. Kinetix OGs and new arrivals alike can scroll through an entire quarter annum of bite-size news items, or click into each one for a full-length breakdown — it’s up to you!
Now without further ado, onto the Kinetix Q1 2024 Wrap Up!
1) Major Events
- Into the Cosmos Hits the Web3 Mainstream: After launching the very first episode of a biweekly X Spaces series titled “Into the Cosmos” alongside co-host and partner Kava Labs in December 2023, Kinetix’s grassroots podcast has taken off. In 2024, Kinetix hosted six brand new episodes with influential figures such as Cryptocito and Cosmos Hoss, as well as project representatives from around the Cosmos community including Pyth Network, Open Ocean, Steer Protocol, Persistence, Axelar, Osmosis, Evmos, and Hover Market. Episodes regularly bring in tens of thousands of unique listeners, and cover an array of popular topics including Perps & Trading, Synthetic Assets vs. Tokenized Real-World Assets (RWAs), ETHDenver: The Full Recap, Cosmos Airdrop Season, and most recently, Market Insights & User Onboarding.
- KAI Token Launch Announcement: Kinetix is proud to have delivered a number of key announcements surrounding the launch of its forthcoming native token KAI, which will play a major role capitalizing the Kinetix DeFi hub, contributing to ecosystem decentralization, and supporting the Kinetix DAO as a governance token. To get up to speed, check out the KAI Token Introduction blog post.
- KAI Airdrop Announcement: Kinetix is fully committed to decentralization in every aspect of platform and community development — and that includes the launch of KAI and its distribution. The KAI Airdrop is designed to support a wide array of DeFi users, with allocations set aside for stakers from Cosmos, Injective, Osmosis, Celestia, and Polygon. The airdrop also rewards past, current, and future users of the Kinetix DeFi hub, so get trading to secure your airdrop allocation today! If you didn’t catch the airdrop news trending on Dapp Radar, TechBullion, or Metaverse Post, you can get the full rundown from the official blog announcement.
- The Kinetix Perpetual Exchange Receives Epic Upgrade: Kinetix’s development team was hard at work on perps all day, every day — from January 1 to March 31. After receiving feedback from platform users, the development team put together the Kinetix Perpetual Exchange V2, complete with a series of unprecedented, above-and-beyond features that even received an enthusiastic mention from Crypto Banter during a YouTube livestream. To get the full scoop on why Kinetix’s next-generation perpetual contracts mean so much to traders, check out the full-length blog post on Kinetix’s V2 Mission.
Awesome stuff! Now, let’s run some numbers.
2) Kinetix: by the Numbers
Events, news, and deliverables all play major roles in putting a full quarter of hard-earned progress in perspective. But no wrap up is complete without hard data. For Q1 2024, the numbers don’t lie: even without a native token live on the market just yet, Kinetix is growing in every meaningful metric the market has on tap.
- 150% Social Growth: First and foremost, the Kinetix community has recorded a number of impressive upticks on X, growing from around 10,000 followers on January 1 to over 25,000 on March 31. As Web3’s primary social media platform, X has attracted considerable attention from high-profile investors, enthusiasts, traders, and business development leads. Kinetix will continue to prioritize follower and engagement growth on X as it moves forward with community and business development initiatives.
- 45.9k Listeners: Into the Cosmos Ep2 covered Bitcoin’s ETF approval in full and featured major Cosmos project representatives, attracting a record-high audience of unique listeners. Recent episodes have also performed exceptionally well, regularly crossing the 10,000 unique listener mark.
- $353k Fees Generated: In Q1, Kinetix recorded an unprecedented $350k in platform fees, a more than 1,000% increase from its December 31 all-time fee total of $30k. And you what that means: a huge amount of capital is being delivered back to users — where it belongs! Kinetix remains committed to redistributing a significant portion of platform fees directly to the users that support and contribute to the Kinetix DeFi hub.
- $819M in Total Volume: In generating a record $819M in volume, the Kinetix DeFi hub crossed the $1B mark for the first time, arriving at an all-time total of $1.2B and more than tripling its December 31 all-time total of $400M.
- $26M in Total Value Locked (TVL): Between its Perpetual Exchange and V3 DEX, Kinetix continues to see more capital migrating to its platforms every month. On the Kinetix V3 DEX, TVL increased from $2.5M to $4.46M in Q1 — an increase of more than 75%.
- 200% Platform User Growth: In Q1, the Kinetix DeFi hub saw more than 6,400 new users arrive on its platforms — an increase of more than 200% that places the ecosystem’s total user count at just over 9,600. 10,000 users represents a major milestone for the entire ecosystem, and at this rate Kinetix is going to close in on it in a matter of days!
Want to run some numbers on your own time? Go right ahead and check out the Kinetix Analytics Dashboard for yourself.
3) Technical Updates
Even while working day and night to design cogent tokenics, balance incentives, and ensure a fair and effective airdrop distribution, Kinetix delivered a series of powerful technical updates to get a leg up on the competition.
- The Kinetix Perpetual Exchange V2 Alpha and Beta: In Q1, Kinetix delivered two versions of its Perpetual Exchange V2, a high-powered platform that provides users with a number of in-demand features, including up to 100x leverage on supported assets, expanded crypto trading pairs, and brand new exposure to commodities and forex market currencies. With users looking to rotate bull market profits into dollars, euros, yen, gold, and silver, it’s no surprise that demand for Kinetix’s perpetual contracts has been surging. To complement increased leverage and expanded assets, V2 also supports automated trading functions including trailing stops, stop-losses, and take-profit orders, so users can implement advanced trading strategies and manage risk around the clock.
- UX/UI Improvements: Kinetix continues to chip away relentlessly at inefficiencies, pain points, and unnecessary clicks to improve process flows and streamline the trading experience for users. On Kinetix’s Perpetual Exchange V2, V3 DEX, Data Analytics Dashboard, and website, users should continue to enjoy smoother, more intuitive displays and simpler controls.
- Kava EVM Support on Binance: As an added bonus, Kinetix is pleased to congratulate Kava Labs on the deposit and withdrawal support that Kava EVM recently received from Binance. As a native hub for the issuance of USDt, Web3’s leading stablecoin, Kava is now more available to Binance users than ever before. And, for that matter, so is Kinetix. Users may now withdraw funds from Binance directly to their Kava wallets and begin interacting with Kinetix DeFi platforms, a major breakthrough for accessibility.
4) Q2 Alpha
It’s no secret: Q2 2024 is slated to be Kinetix’s most electric quarter yet. And this time, most of the news is out in the open. The KAI token launch is set to capitalize the ecosystem, provide a means of storing and exchanging value for users, and significantly increase rewards. Just as important, activating KAI will distribute capital across the ecosystem to strengthen decentralization, jumpstart community governance via the Kinetix DAO, and begin a new era of radical transparency, community-driven business development, and platform development initiatives.
And don’t forget, Kinetix’s KAI Airdrop is right around the corner too. Stakers on Cosmos, Injective, Osmosis, Celestia, and Polygon are set to receive substantial allocations of KAI, while past and current users of the Kinetix DeFi hub are lined up to be major winners.
Now, here’s some juicy alpha for you: as of today, the official airdrop snapshot STILL has not been taken. That means anyone and everyone is free to get started using the Kinetix DeFi hub to carve out their own allocations for the forthcoming airdrop. The ball’s in your court, user!
Kinetix is excited and honored to be delivering the next-generation of cutting-edge DeFi legos in the Kava and Cosmos ecosystems — and to be building a Kinetix-native community from ground zero. Cheers to a groundbreaking Q2 2024 ahead!
Hungry for more on Kinetix? The Kinetix community would love to hear your feedback and offer support while you’re using Kinetix. Join the discussion via the social links below or visit the Kinetix website to find out more. If you are interested in partnering with Kinetix, email: socials@kinetix.finance
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