In the strong wave of DeFi development, KiloEx stands out as a decentralized perpetual contract exchange (DEX) with many groundbreaking features. Supported by major names like Binance Labs and Foresight Ventures, KiloEx not only makes a mark with advanced technology but also captures community attention after a shocking security incident.
1. What is KiloEx?
KiloEx is a decentralized trading platform specializing in perpetual contracts – similar to what you see at GMX or dYdX. However, the difference lies in the Peer-to-Pool model, allowing users to trade without a traditional order book, minimizing slippage and increasing order matching efficiency.
The project operates on multiple blockchains such as BNB Chain, opBNB, Base, and Manta Network, while integrating many advanced tools such as:
One-Click Trading (1CT): Trade with just one click, no need to worry about gas fees.
Vaults and Hybrid Vaults: Allow users to deposit assets (USDT, USDC...) to receive a share of revenue.
Dual Staking Tokens ($KILO and $xKILO): #KILO is the main token of the project, while $xKILO is a non-transferable token used to receive profits and participate in governance.
2. Outstanding Advantages
Strong backing: Invested by Binance Labs – a leading reputable name in the crypto ecosystem.
Flexible, multi-chain trading: Integrating multiple blockchain networks, expanding user reach.
Unique features: One-Click Trading, supports copy trading, integrates LSTfi (Liquid Staking Derivatives Finance).
Clear revenue sharing: $xKILO stakers receive 30% of revenue from the exchange – this is a motivating mechanism to retain users.
3. Notable Security Incident
On April 14, 2025, KiloEx became the victim of a smart contract exploit worth $7.5 million. The flaw came from the MinimalForwarder contract – where there was no full permission checking mechanism, allowing the attacker to manipulate trusted roles and oracle prices.
The incident left the community unsettled, but KiloEx responded fairly quickly:
Contact SlowMist and Sherlock for thorough investigation.
Offer a 10% bounty to the attacker if they return the funds.
The result? The hacker returned the entire amount – a surprising and rare ending in the DeFi world. This incident raised many questions about smart contract security, but also showcased the team’s professional crisis management skills.
4. Risks to Consider
Reputation affected after the hack: Although it has been resolved, this remains a "blemish" in the eyes of investors.
Unclear specific token development roadmap: Information about FDV and initial supply is not fully transparent.
Strong competition from other DEXs: GMX, dYdX, or Vertex are all developing strongly and have large communities.
5. Investment Perspective & Final Assessment
KiloEx is a highly promising project, especially when combining perpetual contract trading with an attractive revenue-sharing model. With backing from major funds and an experienced team (who previously worked at OKX, Bitget), they have a solid foundation to compete in the market.
However, the recent security incident shows that the DeFi market still poses risks. Investors should approach KiloEx with caution, waiting for new audits and clear updates from the project.
KiloEx is a project to watch in 2025. If the team continues to improve security, increase transparency of financial information, and maintain an attractive profit-sharing model – they could very well become the next big name in the perpetual DEX space.
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