Kayak Finance - Ready to Set Sail

The background of the creation of Kayak Finance

In 2024, Ethena once again sparked a wave of stablecoins in the crypto world. In just a few months, the issuance of USDe exceeded 4 billion US dollars. In today's market, stablecoins are not only circulating currencies but also reliable interest-earning assets for users. As a result, the demand for stablecoins and stablecoin swaps continues to increase, especially in the market for cross-chain stablecoin swaps.

Currently, most stablecoin swaps are conducted on DEX. We have found that when trading on DEX, users often have to bear high slippage due to low on-chain liquidity in certain cases, as well as the cumbersome process of cross-chain transactions. These factors contribute to the low utilization rate of assets.

We need a new stablecoin swap market aimed at addressing the following issues in stablecoin swap:

-Minimum  slippage-Supporting cross-chain transactions

-Increasing the utility of stable assets

-Increasing the demand for stable assets

What is Kayak Finance?

Kayak Finance is a cross-chain stable market, which will bring users deeper liquidity and lower slippage cross-chain stablecoin trading services by aggregating liquidity distributed on different chains into one pool.

In the first stages, we will support the following three chains:

-Avalanche

-Mantle Network

-Morph

How Kayak Finance solves the above problem

Kayak Finance aggregates liquidity from different chains into a single pool. It has the following features:

• Increased liquidity -Supporting cross-chain transactions

• Reduced slippage

• Higher returns for LP

To increase the utility of stable assets we will launch the kayUSD stablecoin, which has the following features:

• A cross-chain stablecoin backed by pegged assets such as sAVAX and USDe

• Soft liquidation

• Dynamic fee rates

• Increased asset efficiency

• Reduced risk of depegging

We will introduce the $KAY token, which is different from other DEX tokens in that we will reward not only liquidity providers , but also traders.

These three assets form the ecosystem flywheel, which is the solution Kayak brings.

Stake in Kayak, something is on the way 👀🪂

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