Decentralized Futures: Introducing Kylix Finance
We are delighted to announce that Kylix Finance has been selected as the latest recipient of a Decentralized Futures grant! This funding will significantly propel the development of Kylix Finance, an innovative DeFi lending parachain built on Substrate, designed to enhance the Polkadot ecosystem.
About Kylix
Kylix Finance addresses the gaps in the current DeFi landscape on Polkadot by providing a comprehensive on-chain lending solution. Unlike existing parachains, Kylix focuses on offering strong incentives for liquidity providers, innovative adaptive rates, a robust collateral liquidation auction system and a composable asset lending product.
Key Features of Kylix Finance:
- Decentralized Lending Market: Kylix allows users to deposit, lend, and borrow multi-chain assets secured by crypto collateral.
- On-chain collateral liquidation platform: The platform integrates a marketplace that allows users to purchase liquidated collateral at a discount to the market price.
- Cross-Chain Capabilities: Leveraging Substrate and XCM, Kylix enables the movement and lending of assets across different blockchain networks.
- Built-In Incentives: The platform includes a treasury for distributing automatically rewards from borrower fees to liquidity providers, enhancing market activity.
- DAO-Driven Governance: Users can create and manage loan pools, and exercise voting power to modify pool parameters through DAO proposals.
Team Behind Kylix
The Kylix team consists of seasoned professionals with extensive experience in fintech and DeFi:
- Gianluigi Davassi: Founder and CEO, with a robust background in financial technology.
- Kumar Gunjan: CTO, expert in Blockchain, cryptography and ZKP.
- William Chen: Advisor, Business and Operations, ex-Talisman COO, experience in treasury management and on-chain organizations.
- Adrian Ioan Cîrstea and Mugzar Akizhanov: Core team members, each bringing unique expertise in software development, finance, and blockchain technologies.
Goals and Future Plans
Kylix aims to become the leading DeFi lending hub within the Polkadot ecosystem by focusing on:
- Development of MVP TestNet: Expected deployment by Q4 2024, including core functionalities like lending vaults, borrowing, liquidations, and oracle price integration.
- Expansion on Paseo and Polkadot: Full deployment planned for end of Q1 2025 on Paseo and Q2 2025 fully audited on Polkadot, incorporating features like token swaps, cross-swaps, automated treasury, staking, dashboard, portfolio management, and Governance.
The Decentralized Futures grant will fund the initial stages of this ambitious project, helping to bootstrap development and create a working MVP to be deployed on the Paseo Network.
Stay tuned for more updates as Kylix Finance moves forward to revolutionize the lending landscape on Polkadot. Together, we are building a decentralized future!
