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KiloEx announces the cumulative destruction of over 13.41 million KILO Tokens.
BlockBeats news, on October 16, the decentralized derivatives trading platform KiloEx, funded by YZI Labs (formerly Binance Labs), recently executed another token burning through the xKILO vesting mechanism, with a total cumulative burn amount reaching 13,418,836 KILO. Among them, the xKILO vesting mechanism accounted for the cumulative burning of 4,809,594 KILO, while 8,609,242 KILO were burned from unclaimed Airdrop tokens. KiloEx utilizes a “customized vesting” burning mechanism, converting users' redemption choices directly into deflationary power: when users redeem xKILO early, the unredeemed portion will be automatically burned. Meanwhile, users staking xKILO can earn an annual yield of up to 31.65%. The platform currently supports trading in contracts, Spot, US stocks, and forex, aiming to provide a CEX-level trading experience with low fees, injecting new competitive vitality into the decentralized derivatives sector.