What is Kriya

Source:https://x.com/KriyaDEX

Kriya is a comprehensive DeFi protocol that focuses on providing users with efficient and low-cost trading services and building a series of innovative financial tools on the SUI blockchain. Kriya offers a variety of DeFi functionalities, including AMM exchanges, limit orders, leveraged perpetual contracts, and automated strategy Vaults, aiming to provide seamless services for users in the decentralized finance field.

“Kriya” is derived from Sanskrit and means “action” or “power of action”. Its core concept is to help users achieve higher capital efficiency and better returns in digital asset trading by implementing effective financial strategies in the DeFi world. Kriya’s mission is to promote the maturity and development of the decentralized financial ecosystem by providing more sustainable and lower-risk liquidity management and trading mechanisms.

Highlights of Kriya

Kriya’s biggest highlight is its highly integrated DeFi products, aiming to optimize users’ DeFi experience, reduce transaction costs, and improve capital efficiency. Its main highlights include:

• Support for various product forms: Kriya not only provides the functions of a regular decentralized exchange (DEX), but also offers products designed for institutional users, such as limit orders, strategy vaults, and leveraged lending. The comprehensive use of these products can help users maximize capital in different market environments.
• Focus on capital efficiency and liquidity: Kriya is committed to helping users improve capital utilization efficiency through automated and optimized liquidity pools. It effectively reduces impermanent loss through CLMM (Concentrated Liquidity Market Maker) and automated strategy Vault, and enhances the profitability of liquidity providers through periodic rebalancing mechanisms.
• User-friendly interface and experience: Kriya has been deeply optimized in terms of user experience. Its platform interface is simple and intuitive, and the trading process is clear and easy to understand. Both beginners and professional investors can quickly get started. At the same time, Kriya also provides innovative features such as ‘Slippage’ control and real-time price impact estimation to help users make wise decisions in complex markets.
• Decentralized Governance Model: Kriya’s governance is community-led, and KDX token holders will be able to participate in the protocol’s decision-making process. This decentralized governance approach ensures greater transparency, fairness, and alignment with the interests of the majority of community members.

The main function of Kriya

Source:https://docs.kriya.finance/overview/what-is-kriya/kriya-suite-hld

Kriya’s product system is very rich, covering basic trading services to advanced strategy management tools, meeting the needs of different user groups:

1. Kriya Swap: A flexible AMM exchange

Kriya Swap is the decentralized exchange of Kriya, based on the Automated Market Maker (AMM) model, supporting users to seamlessly exchange tokens. Kriya Swap provides various liquidity pools, including stablecoin pools and regular trading pools, allowing users to choose the appropriate pool for trading based on market conditions. Through CLMM, Kriya can optimize transaction fees and liquidity allocation while providing liquidity, reducing the impact of price fluctuations.

Special Features:

• Flexible pricing mechanism: Kriya Swap supports multiple pricing curves, including standard linear curves and complex concentrated liquidity models, providing users with more trading options.
• Limit Order Support: Kriya Swap supports not only instant market orders, but also limit orders, which meets the needs of professional traders.
• Low transaction costs: Kriya offers flexible trading fees from 0.01% to 1% and adopts smart routing technology to optimize the trading process.

Source:https://app.kriya.finance/trade

2. Kriya Strategy Vaults: Automated strategy management

Kriya offers several innovative strategy Vaults to help users maximize their profits without the need for manual operations. These Vaults utilize automated strategies to optimize liquidity provisioning and asset management, reducing the complexity and risks associated with manual operations.

Core Strategy:

• Leveraged Lending Vault: Users can use these Vaults to leverage lending operations, with a maximum leverage of 3x, supporting assets including SUI, vSui, wUSDC, etc.
• Concentrated Liquidity Management Vault (CLMM LP Optimizer Vaults): These Vaults automate the management of liquidity pools, helping users achieve higher capital efficiency and returns through periodic rebalancing and automatic compounding.

3. Kriya Perpetuals: Decentralized Derivatives Trading Platform

Kriya Perpetuals is a platform designed for derivative trading, supporting users to trade financial derivatives such as perpetual contracts, futures, and options. The platform adopts a decentralized order book model, where all trading information and settlements are conducted on the chain, ensuring transparency and security.

Features:

• Maximum Leverage Support: Kriya Perpetuals supports up to 20x leverage, allowing users to engage in flexible trading based on market trends.
• Full on-chain trading: From order intention to final settlement, all transactions are on-chain operations, ensuring the security of user funds and transaction transparency.

4. Kriya OTC: Decentralized platform for large-scale trades (coming soon)

Kriya OTC is a decentralized P2P (peer-to-peer) trading platform designed for bulk trading and institutional users. Through this platform, users can conduct large-scale asset transactions without affecting the market. All transactions are encrypted to ensure the security and privacy of the transactions.

5. Sui Sniffer: Security assessment tool in the Sui ecosystem

Sui Sniffer is a tool designed specifically for the SUI ecosystem, aiming to provide users with a security rating for tokens. By conducting multidimensional security checks on tokens, Sui Sniffer provides investors and traders with a reliable way to assess the credibility and security of tokens, helping to avoid potential risks.

Security Check:

• Mintable Tokens Check: If a token is mintable, it means its supply is not fixed, and the token creator can increase the supply at any time. Sui Sniffer tracks the custody permissions of the token to verify if the supply is being increased without restrictions.
• Ownership Renounced: Verify whether the token creator has renounced ownership by checking if upgrade permissions have been destroyed, ensuring transparency of the token contract.
• Contract Upgradeable: Confirm whether the token contract code is not changeable to ensure that the token’s metadata (such as symbol and name) will not change.
• Liquidity Pool Security (LP Burnt): Verifying whether the initial liquidity has been transferred to an inaccessible address or to a community wallet for safekeeping to avoid liquidity manipulation.
• Sufficient Liquidity: If the liquidity pool of the token is less than $5000, users may face significant slippage even when trading small amounts of tokens. Sui Sniffer sets a liquidity standard of over $20,000 to ensure smooth transactions.

KDX Token Economics

As the native token of the Kriya protocol, KDX is not only a tool for platform governance, but also an important tool for users to earn profits and participate in decision-making on the platform. The token economics of KDX reflects the concepts of decentralization, user-driven, and long-term sustainable development.

Source:https://x.com/KriyaDEX/status/1876977439299215755

1. KDX Distribution Mechanism

The total supply of KDX is 100 million coins, and the token distribution follows a ratio of 80/20 between the community and the team. The specific distribution is as follows:

• Community (80%):
  • Initial airdrop (50%): distributed to Chakra S1, S2, S3 participants, Perps test network users, etc.
  • Growth Fund (25%): Used for market promotion, liquidity incentives, protocol insurance, etc.
  • Liquidity Incentive (5%): Used for launching DEX liquidity, initial exchange listings, etc.
• Team and early investors (20%): Allocated to the project team and early supporters, with a lock-up period of 3 months, followed by a linear unlocking period of 21 months.

2. Practical Functions of KDX

Users who hold and stake KDX tokens can not only participate in governance, but also enjoy a range of rewards and benefits:

• Participating in Governance: KDX stakers can participate in major protocol decisions, including product upgrades, KDX distribution, etc.
• Earnings sharing: KDX stakers can receive a share of the protocol’s revenue.
• Enhanced liquidity rewards: When providing liquidity in the liquidity pool and Vault, KDX stakers can receive additional rewards.
• Trading Fee Discount: KDX stakers can receive trading fee discounts when trading, further reducing transaction costs.

3. KDX Staking Mechanism

The KDX staking mechanism has a time-weighted feature, where the longer the staking period, the greater the rewards and voting weight for users. Additionally, stakers can further increase their staking weight and earn more rewards by holding Chakra NFTs.

Conclusion

Kriya (KDX), as a DeFi protocol based on the SUI blockchain, is rapidly evolving into a significant participant in the decentralized finance field, thanks to its efficient product features, strong capital efficiency, and decentralized governance mechanism. Kriya’s innovative design not only optimizes users’ DeFi experience but also provides more choices and opportunities for institutions and bulk traders. With the gradual release of KDX tokens and the continuous growth of its ecosystem, Kriya will undoubtedly occupy a place in the future DeFi market. If you are looking for an efficient, low-cost, and innovative DeFi protocol, Kriya is a project worth paying attention to.