Now that KDSwap is up and running for 24 hours (and what a crazy day this was!), we wanted to take the time to analyze it, both in qualitative and quantitative terms!
Before that, a word of appreciation for all the community and users that so eagerly jumped on the dex and chats to give feedback. We highly appreciate it, and all of it will be taken into consideration when making changes moving forward! This is why we build in Kadena, this feeling of having the whole community as a support crew.
Back to the launch!
Let’s get the bad stuff out of the way first. We acknowledge the discrepancy in timings accessing the website for people in different geographical locations. This is very frustrating and we could have made a better decision regarding the “going live” process. As we are hosted on Flux, nodes will have small differences in refreshing their data, so while some of them were ready to go at 13h00 UTC, others took a few more minutes to reload and show the correct UI. To make it perfectly clear, we are not throwing the blame on Flux in any capacity. They handled the accessing volume like champs! If someone told you KDSwap was being hosted on AWS or Azure, you would have believed it. We knew that small-time discrepancies are perfectly normal and they would always happen, but we miss-estimated them, thinking they would not be as impactful. Something to do better next time!
Now, the good stuff! KDSwap is now live, people can swap and add/remove liquidity for 5 kadena tokens. There were no major bugs reported so far, and the smaller ones reported have since been fixed.
We are also closing out the first day with some impressive trading numbers:
The DEX had peak traffic of 446 tx/hour, completely blowing out previous peaks on the blockchain
The total 24h volume for the first day was over 1M$
- 889 005$ in KDS
- 165 261$ in KDL
- 3 327$ in HYPE
- 2 662$ in FLUX
- 319$ in BABE
We are very proud of these numbers and extremely confident in kadena’s ecosystem future. The development process is unmatched, and knowing the community is eager to participate, even during these uncertain market conditions, bodes very well for the blockchain
The $KDS token saw a massive demand as well, and its price went from 0.0049$ at listing to 0.0189$ at its peak, having found somewhat of a support level at 0.015$.
As mentioned before, the community feedback has been coming in since the launch at a crazy rate! While all is taken into consideration, and we will try to implement suggestions as much as possible, the priority was given to solving minor bugs. We have since deployed a new version where the following was fixed:
- Charts were not showing the correct price for the token
- The scrollbar to select the trading asset on the swap page was not visible in the dark theme mode
- The window to select the trading pair on the swap page was too small
- The liquidity provided was not being displayed on the liquidity tab
Besides these, in the coming weeks, we will add the following features
- Multi-asset staking
- Create your desired Liquidity pair
- More KDS trading pairs
So, once again, a special thanks to all who participated and to all who are still coming to get involved. KDLaunch and KDSwap are built with their users as the number 1 priority, and we hope it is reflected in the apps and in the features and projects we will keep bringing forward.