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Krew, a DeFi accelerator focused on bolstering growth within the Klaytn blockchain ecosystem, has announced the launch of Klex Finance to bring efficient portfolio management and swaps to the blockchain.
Klaytn (KLAY), a public blockchain launched in 2019, looks to advance a diverse crypto economy cutting across metaverse, gaming, and protocol interactivity. But according to the Krew DeFi team, the blockchain lacks the proficiency available on other networks – meaning it does not support all types of automated market maker (AMM) pools.
The lack of capital efficiency hurts projects’ bottom line, Krew noted in a Medium post.
Klex Finance implementation
To help the Klaytn ecosystem, Klex Finance will bring all the critical services that support AMMs, doing so via an implementation of automated portfolio manager Balancer v2. KLEX will leverage “weighted pools, stable pools and liquidity bootstrapping pools.”
We believe that with these essential tools, we can push DeFi on Klaytn to the next level.”
The Krew DeFi team believes bringing capital efficiency and interoperability to Klaytn via its portfolio rebalancer will enable mass adoption of projects on the blockchain, with potential growth to levels hit by leading networks like Ethereum and Solana.
Klex Finance has announced a giveaway ahead of KLEX going live.
To celebrate the official launch of KLEX Finance, we are airdropping MILLIONS of KLEX Tokens to our early adopters!🚀
And the best part? It takes < 1 minute to get involved.
Here's to the future of KLEX! 🤝
— klex (@klexfinance) July 9, 2022
The KLEX testnet will launch on July 25, while the team anticipates the Mainnet to go live in early August. The KLEX token is also expected towards the end of the month.
The post DeFi accelerator Krew introduces portfolio rebalancer Klex Finance on Klaytn appeared first on Invezz.
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