Ecosystem, Announcements, News, Partnership

Wombat and iZUMi Look to Power Up Kaia’s DeFi Ecosystem

*Note: Kaia Foundation and Kaia Chain mentioned in the article are the names of the Klaytn and Finschia Integrated Foundation’s new branding, Kaia. However, to avoid confusion, the Dragon DeFi Initiative (D2I) program will retain its name for a limited period and will be rebranded in time for the official launch of Kaia Chain. 

Since the announcement of Klaytn and Finschia’s chain integration, Kaia Foundation has been actively running the Dragon DeFi Initiative (D2I) program, an incentive program to create a healthy and robust DeFi ecosystem on Kaia Chain. We are well on our way to implementing the DeFi initiative for Kaia Chain, with various ecosystem partners onboarded. As a result of this D2I program, iZUMi and Wombat, two of the first teams to be selected as program partners, have launched KaiaSwap and Capybara, DEXes on the Kaia chain!

KaiaSwap, a secure and efficient DEX service for high-performance chains

Powered by technology from iZUMi Finance, a leader in decentralized finance with a focus on innovative technology and user experience, KaiaSwap is Kaia Chain’s first native DLAMM (Discretized-Liquidity-AMM) DEX, which leverages the advantages of the AMM model design to achieve high capital efficiency by concentrating liquidity at specific price points. It will bring transparency, security, and an efficient on-chain experience to the sustainable and verifiable Kaia Chain ecosystem. 

In particular, iZUMi’s unique solution, DEX-as-a-Service, will combine DLAMM, Account Abstraction, and Multi-sig capabilities to provide a safer and more accessible DEX service based on low gas fees on the high-performance Kaia Chain. 

Capybara, a new DEX with a user-friendly Launchpad

Capybara, powered by Wombat, a multi-chain stable swap protocol, is a new DEX that combines a gamified point system, launchpad, and airdrop playground on the Kaia chain. The Capybara Launchpad is the first launchpad on the Kaia chain, and will serve as a direct connection between the Kaia chain and global users.

Specifically, Capybara removes barriers to scalability by innovating a coverage ratio-based stable swap mechanism, allowing Kaia ecosystem participants to leverage capital without impermanent losses. It also minimizes slippage, enables the use of a single token LP token, and provides an ideal DEX for a lending pocketbook and trading platform based on it. All of this is backed by a user-friendly UX/UI, and with a full launch with the $CAPY token coming soon, we expect to see the Kaia ecosystem come to life. 

Ecosystem synergy matters

Meanwhile, the synergy requires easy access to on-chain data and analytical tools to create a broader ecosystem. In this regard, the integration of Kaia Chain and Flipside, which will be voted on by the Governance Council in May, is expected to be a major boost to this ecosystem synergy. 

Flipside is a platform that provides trusted and comprehensive blockchain data, analyzes blockchain data with Snowflake SQL, and provides dashboards to generate visualizations. Once this Flipside to Kaia Chain integration is complete, you will be able to dashboard expertly modeled data for every decentralized finance transaction on the Kaia Chain. For example, DEXs on Kaia Chain will be able to provide seamless access to core data such as blocks, events, and transactions, as well as on-chain DeFi activities such as swaps and staking. 

Our partnership with Wombat, iZUMi and Flipside is all a part of Kaia Foundation’s D2I program and facilitating synergies across all DeFi money lego’s and infrastructure is a key goal in order to reach maximum optimization of liquidity across the entire Kaia ecosystem. The Kaia Foundation will continue onboarding more DeFi partners to create more liquidity synergies between existing protocols, with the goal of  building the most liquid on-chain experience in crypto.

Kaia’s D2I program will focus on launching DApps in various areas of DeFi, building a strong financial infrastructure for their synergies, and supporting more DApps and builders. We look forward to seeing what KaiaSwap, Capybara, and Flipside will do in the future and the synergies between them.

About KaiaSwap

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Officially supported by Kaia Chain and receiving technical assistance from iZUMi Finance, KaiaSwap leads the way in the DeFi sector by combining innovative technology with a robust focus on user experience and represents a major advancement in the decentralized finance landscape. KaiaSwap’s goal is to establish a comprehensive platform that ensures safe and efficient trading and investment opportunities.

About Capybara

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Capybara is the first single sided liquidity DEX covering full range of assets in DeFi, native on Dragon Chain. Being an affiliate of Wombat Exchange, Capybara runs on the battle tested hyper-capital-efficient proprietary algorithm & utilizes WomPets, the sustainable Gamified Bribe Market 2.0.

About Flipside

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Flipside Crypto is a leading on-chain data analytics provider. With the most reliable blockchain data in the market, Flipside’s expertly-modeled datasets make analysis easy and reliable for +100,000 analysts. The Flipside product suite makes data accessible at all scales, from free analyst accounts to enterprise solutions that seamlessly integrate with existing architecture.