Kaddex (KDX), the first Gas Free DEX (Decentralized Exchange) on Kadena officially announced the launch of X-Wallet: a web extension wallet that enables seamless decentralized application (Dapp) interaction without its users ever having to leave the web browser.
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X-Wallet, compatible with both Chrome and Brave browsers, enables interaction with Kadena’s DeFi ecosystem through seamless interaction with Dapps built on the Kadena Network. Within X-Wallet users are able to send and receive assets, execute cross-chain transfers, view transactions, interact with Dapps, and more, while X-Wallet generates secure keys and passwords that only the user will have access to. It provides everything a user needs to interact with Dapps, with more features being added as Kadena evolves. By default, all accounts created within X-Wallet are secure k:accounts.
In addition, users can recover Chainweaver (Kadena’s official wallet) password seed phrases, and quickly regenerate existing accounts. X-Wallet is the only wallet in the Kadena ecosystem that now supports all tokens on the Kadena network.
Grant Gerber, the Head of Community at Kaddex commented: “We are excited to finally launch X-Wallet today. User experience is an important part of every ecosystem, and we firmly believe that devoting time to creating a polished and robust Kadena-native wallet that is easy to use and interact with is an essential pre-launch item for Kaddex itself. When observing other systems we felt that there was a distinct lack here.”
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Kadena’s solution comprises three parts: the Chain web, Merkle trees, and sharding. Kadena scales through the addition of new chains into Chain Web, becoming more secure and decentralized as more chains are added. When the network reaches a point of congestion, more chains can be implemented, reducing congestion, scaling the network, and decreasing gas fees.
Kaddex takes advantage of Kadena’s advanced infrastructure, including Kadenaswap, to build a robust Gas-free DEX that allows for single-sided liquidity provision, staking, and advanced governance through the use of community trust signaling. Kaddex will be launching later in Q1 2022.
Kaddex was launched in beta in December 2021 to create the first Decentralized Exchange (DEX) built upon Kadena, the first truly scalable Proof-of-Work (PoW) layer-1 blockchain network, and utilizing the same Automated Market Maker (AMM) model as Uniswap. Through the power of Kadena’s braided chain framework, Kaddex can deliver a gas-free liquidity pooling and trading experience while also allowing for novel approaches to liquidity provisioning and slippage controls, while being settled by the globalized security that only PoW can provide.
Besides the technical advantages brought to DeFi, Kaddex introduces its utility token – KDX – to establish true democracy and community ownership of Kaddex’s ecosystem and to implement the first financially sustainable Liquidity Mining program. This allows the community to steer the development of the platform, achieving a collective vision, while also incentivising participation in certain pairs, and therefore improving the overall users swapping experience. All together, these technologies create a DEX and a DeFi tool suite that is positioned to not only support the Kadena ecosystem, but to create DeFi in the way it was supposed to be: open to all, community owned, simple to use and cheap to participate in.
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