Chiliz integrates KAYEN Protocol, a decentralised exchange (DEX), into its blockchain ecosystem, enhancing decentralisation in SportFi. Launched on 8 August 2024, KAYEN offers bridging, swapping, wrapping, and liquidity features. Its dual Automated Market Maker (AMM) system and strong launch metrics underscore its potential to revolutionise decentralised finance within sports and entertainment.
The Chiliz Chain ecosystem, a pioneering blockchain platform for the sports and entertainment industry, has announced the integration of KAYEN Protocol, a decentralised exchange (DEX) designed to revolutionise decentralised finance (DeFi) within the SportFi space. This collaboration marks a pivotal advancement in decentralisation, offering enhanced opportunities for users and developers alike.
Commenting on the development, Alexandre Dreyfus, CEO of Chiliz, stated:
“The integration of KAYEN Protocol is a testament to our commitment to decentralisation and innovation within the sports and entertainment industry. By empowering users and fostering collaboration among teams, brands, and innovators, we are creating a dynamic ecosystem that delivers cutting-edge blockchain solutions.”
Auxili, Co-Founder of KAYEN Protocol, shared their excitement:
“Joining the Chiliz ecosystem is an exciting journey for us. We are grateful for the support and guidance of the Chiliz team. Our focus remains on building a state-of-the-art platform that brings sports and crypto enthusiasts together in a meaningful way. Stay tuned for more developments!”
A comprehensive financial suite tailored for SportFi
KAYEN Protocol, which officially launched its mainnet DEX and testnet Launchpad on 8 August 2024, introduces a robust range of financial features to the Chiliz ecosystem. Designed for seamless interaction, KAYEN enables users to bridge, swap, wrap, and provide liquidity on a single platform. One of its standout features is the wrapping capability, which allows Fan Tokens to be traded in smaller units while preserving their original value and ensuring full exchangeability.
KAYEN’s decentralised platform also supports advanced liquidity options through its dual Automated Market Maker (AMM) system. This system includes volatile (UniV2-style) and stable (Curve-inspired) swaps, alongside Dynamic Directional Fees (DDF), which provide tailored trading fees based on the direction of swaps. Customised pool configurations further enrich the liquidity experience, catering to the unique needs of various trading pairs.
Launch metrics demonstrate market confidence
The launch of KAYEN Protocol has been met with substantial market interest and strong user engagement. Ahead of its launch on 28 July 2024, the protocol achieved a Total Value Locked (TVL) of $10.6 million, underscoring its early success. The testnet recorded over 250,000 cumulative swaps, while its airdrop league drew more than 7,000 participants during the final test week. These figures highlight growing market confidence in KAYEN’s potential to redefine decentralised finance in the SportFi domain.
Strengthening the Chiliz Ecosystem
The integration of KAYEN Protocol complements Chiliz’s existing partnerships with prominent centralised exchanges, which have historically played a key role in the expansion of the Fan Token market. While centralised exchanges remain integral to the ecosystem, the addition of a community-driven project like KAYEN further diversifies the offerings within the Chiliz Chain. This approach empowers users with greater flexibility and choice.
The Chiliz ecosystem continues to expand through strategic collaborations and technological advancements. Recent milestones include partnerships with top-tier validators such as PSG, K League, Animoca, OKX, and Exaion, alongside the launch of new tokenomics and staking opportunities. These initiatives, combined with the integration of KAYEN Protocol, position Chiliz at the forefront of innovation in the SportFi space.
About Chiliz
Chiliz is the leading blockchain provider for sports and entertainment, operating the Chiliz Chain, the first Layer-1 EVM-compatible blockchain dedicated to this sector. Its flagship platform, Socios.com, has over two million users and hosts more than 80 Fan Tokens from top global sports entities, including FC Barcelona, Paris Saint-Germain, Manchester City, and Juventus. Chiliz’s partnerships extend across football, Formula 1, and other major sports domains.
About KAYEN Protocol
KAYEN Protocol is a decentralised SportFi ecosystem built on the Chiliz Chain. It provides a comprehensive suite of financial products, including a DEX for Fan Tokens and a decentralised Launchpad. Focused on empowering the sports and crypto communities, KAYEN aims to expand its offerings with innovative products in the future.
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