- What is a derivative DEX and what is the difference between it and exchanges like Binance/OKX?
A derivative DEX is a decentralized trading platform that allows for trading of various derivatives. Compared to centralized exchanges like Binance and OKX, a derivative DEX is more open and transparent, as users do not need to trust the exchange and can participate in trades directly through smart contracts, ensuring fairness. Additionally, derivative DEX offers more innovative and flexible trading methods, such as leveraged trading and perpetual contracts.
2. How is KiloEx different from other derivative DEX on the market?
KiloEx places a greater emphasis on user experience, providing a more user-friendly and convenient trading interface and methods. Additionally, KiloEx integrates trading with community building, incentivizing users to participate through copy-trading, trading mining, and trading competitions. KiloEx also offers a more diverse range of trading assets and flexible trading methods, such as forex, to meet the diverse needs of users. Finally, KiloEx has relatively low trading fees to help reduce costs for users.
3. Are my assets stored in KiloEx safe? How is their security ensured?
KiloEx takes multiple security measures to protect user assets. Firstly, KiloEx’s smart contracts are audited by professional security firms to ensure their safety. Secondly, user assets are stored in decentralized smart contracts, and users have control over their assets through their private keys, avoiding the security risks associated with traditional centralized exchanges. Additionally, KiloEx utilizes technologies such as multi-signature to ensure asset security.Overall, KiloEx places a strong emphasis on security and takes multiple measures to protect user assets. However, users should also protect their own private keys to avoid asset loss due to key leaks or other reasons.
4. Why do LPs deposit funds into Vault?
Depositing LP funds into the Vault is to earn liquidity rewards. You can get a portion of the user’s trading fees and receive the user’s funding rate. As a user’s trading counterpart, you can also gain from the user’s long-term losses.
5. As an LP provider, do I have the risk of losing funds?
As a user’s trading counterpart, when the user gains profits, the LP will bear the loss. However, in the long run, users generally tend to lose money. In addition, LPs also share in the user’s trading fees and gain from the user’s funding rate, which will be profitable in the long run. Additionally, as an LP, you can hedge your current exposure based on your own risk preference.
6. What happens to the funds we store in the contract if KiloEx’s contract is hacked?
Our contract will undergo security audits and adopt complex risk control strategies to ensure the safety of funds. In addition, we will establish a risk reserve to compensate users in similar situations.
7. How strong is KiloEx’s product development capability?
The entire team is composed of experienced professionals, including those with years of experience in exchange and contract development, as well as professional traders in traditional derivatives.
8. Has KiloEx’s contract passed a security review?
Currently, the contract is still under development. After development is completed, we will conduct a security review of the code.
9. I can’t monitor the market 24/7. How can I receive an alert in advance if my position is going to be liquidated?
The platform allows you to set up stop-loss and take-profit orders, and will also provide position alert notifications in the future.
10. What are KiloEx’s future product plans?
We will continue to iterate our products and launch more trading pairs for cryptocurrencies, forex, and stock indices. Additionally, we will develop copy-trading functionality.
11. Does KiloEx have any token airdrop plans? How can I qualify for the airdrop?
Yes, there will be an airdrop in the future. The specific rules will be determined later.
12. Is there any policy risk for KiloEx? Will it be forced to shut down?
As a decentralized derivatives exchange, it will not be forced to shut down.
