Klein Finance AMA—10 Things You Should Know About Klein Finance
Subject: 10 Things You Should Know About Klein Finance
Time: JULY.8th
Host: Kevin
Guest: Kathy（Ambassador of Klein Finance）
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H: Dear Kleiners, Welcome to Klein’s telegram AMA session with Kathy (Klein’s Ambassador) on board! Today’s topic is: “10 things you should know about Klein” But as this is an AMA activity, we’ll certainly answer other questions for the community as well.
Before we get started, I want to introduce Kathy, Klein’s ambassador and also an old acquaintance of mine. She works in a PE company previously. Kathy, I saw you’re typing, Can you say sth to our telegram fans?
G: Hi, Kevin, and fans of Klein telegram, Here’s Kathy, and I’m here to share 10 things you should know about Klein. Also, I’m here to answer other questions. As Klein has launched its test round, I’ll ask any questions of Klein as much as possible. I think I’m ready to do it !
H: Thx Kathy and our fans of Klein, before we get started, make sure you’re following Klein’s Twitter, Discord, and this channel, we’ll update everything about Klein and Defi with you as soon as possible. And now let’s get started!
G: Here we go!
H: So Kathy, 10 things about Klein, could you please introduce Klein to our new-coming friends what exactly is Klein?
G: Sure, Klein Finance is a decentralized exchange of liquidity pools on Kucoin Community Chain. It featured in high-efficient and low-risk stablecoin trading, providing liquidity providers with extra income and a good on-chain environment with low slippage, good depth, and low fees.
H: Well, so how does Klein ensure this low slippage good depth, and low fees on-chain environment？
G: Klein’s liquidity pools’ liquidity strategy is more effective by concentrating the liquidity at current prices. As trades happen, the pool readjusts its internal price to the highest liquidity region without creating losses for the pool. Thus traders would pay for little transaction fees which range from 0.04% to 1%.
H: So, as you mentioned before, how does Klein make extra profits for users?
G: There are many ways of making extra profits on Klein, I’ll take arbitrage as an example. Arbitrage is the simultaneous buying and selling of, in our case, a token to make a profit. Because cryptocurrency markets often lack liquidity, there are often opportunities for traders to take advantage of price discrepancies to make a profit which can be helped by protocols like Klein.
H: OK, I see! Means that I can buy USDC at a relatively low price but sell it at a higher price to make some profits right? So, is there any rewarding system on Klein too? like trading rewards or staking rewards?
G: Certainly we do have these rewarding systems, like trading rewards on Klein: for certain liquidity pools, it will reward traders swapping in it with Klein’s token KEN. Users can check which pool can generate trading rewards inside Klein’s interface too.
H: Nice, and what about the staking rewards?
G: Thanks for mentioning that, staking in Klein can also generate token rewards. We call it yield farming and liquidity mining. You can add liquidity to Klein’s liquidity pool, and stake your LP token to the pool to obtain continuous rewards.
H: So I see you mentioned many times your token KEN, can you give us some insights about it?
G: Sure, KEN is Klein’s token which will initialize in the following months, KEN can be obtained in many ways like trading mining and staking mining. It can be traded and also can be locked to obtain Klein’s governance token veKEN.
H:veKEN, What’s that?
G:veKEN stands for vote-escrowed KEN. It is Klein’s governance token which can only be obtained by locking your KEN for a certain period of time. As a governance token, veKEN cannot be traded and exchanged. Users can apply their veKENs to Boost their trading mining rewards or staking mining rewards. They can also vote or make a proposal with veKEN.
H: Wow , that’s really a big deal. Can you explain what is veKEN’s boost function?
G: VeKEN can bring actual benefits to Klein’s users, it can boost their trading rewards or liquidity farming rewards. For instance, if one trader swaps in a liquidity pool that will generate trading rewards and gets 100 KEN, he can get at a maximum of 3.3x rewards of KEN if being boosted trading rewards.
H: Wonderful! And the vote and the proposal part, can you introduce these to us?
G: Indeed! Being Klein’s DAO member and voting or making proposals with veKEN can not only bring benefits for personal interests but also flourish the community too. Users can pledge their veKEN to vote for a proposal or, if they hold more than 2k veKEN, they can make a proposal on DAO and be voted for.
H: Thanks for your excellent answers. The last issue of the day: Can you share some plans and future roadmaps of Klein?
G: Well one thing for sure is that Klein will have its IEO and IDO in the following months. Please on board with us on Twitter and Discord to get more information.
H: Got it! Thanks again to Kathy. I know lots of friends are typing their questions about these 10 things we talked about. We’ll answer them as much as we can!
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H: If there’s no more questions, Thanks for your kindly participating, all fans of Klein, since time is limited, it’s about to end this AMA. We’ll put this AMA into an article on our medium in case some of our fans missed AMA this time. So, keep on board with us! WGMI!
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Join Klein Finance:
Website: https://klein.finance/
Twitter: https://twitter.com/KleinSwap
Telegram: https://t.me/KleinFinance
