These are the most frequently asked questions about Kromatika Finance and its protocol utility token $KROM.
KROM is hardcapped at 100,000,000 tokens of which 60M (60%) are available on Uniswap. This amount is forever locked on the Uniswap protocol. 10M (10%) are available on Arbitrum and 10M (10%) on Optimism which will be used to provide layer 2 liquidity. Check Tokenomics for more info.
Yes! $KROM is what enables the user to access the limit trade feature of Kromatika DEX. Without $KROM, you will not be able to use this function because $KROM is what pays the service fees. Later on, more utility will be added including staking.
First, you have to send ETH to the Arbitrum network (L2). You can do this using a centralized exchange like Binance that supports Arbitrum network transactions. Alternatively, you can use an ETH bridge like Celer to convert your ETH from the mainnet to the Arbitrum network. After you have bridged over, you can use Uniswap to swap your Arbitrum ETH for $KROM token. Check the tutorial here. You may also use the native Arbitrum bridge for lower fees, but be advised that transaction time can take 8-10 days. Check the tutorial here.
Kromatika DEX has the ability to perform instant swaps as well as limit trades. The swap aggregator works exactly like Uniswap - choose your pair and click swap. The advantage with our platform is that it compares the swap prices across various DEX platforms so you can have your best value for money swap. Now, to use limit orders, you will require $KROM tokens in your account to satisfy the fees. If you choose the pair for your trade, the app will tell you the minimum $KROM tokens required for the service fee. It is recommended that you deposit slightly more than this amount into the app. Now, set your limit order and click TRADE. When the market conditions match your order, Kromatika DEX will execute the trade automatically. However, you will need to manually claim your tokens once the trade has been completed. If you have multiple completed limit order trades, you can use the batch feature to claim all the tokens in one transaction. Check the tutorial here.
Kromatika DEX requires a fixed fee to operate. This fixed fee is the gas cost of the trade processor (Chainlink Keepers) and it is dependent on the current gas fee. Optionally, users can also choose to specify the gas price at which they want their trades to be executed. This may delay the trade execution, but it is an added option for lowering this fixed service fee. The user always pays this fixed fee in the form of $KROM tokens.
Yes! KROM token is a non-mintable ERC 20 token audited by OpenZeppelin, MythX and CertiK.
Yes! Kromatika DEX always uses $KROM tokens to settle the transaction fees.
No. You only need ETH to pay the transaction fees.
When a trade is processed, $KROM is deducted from the user’s balance on Kromatika DApp and sold on the market for ETH. This is then sent to the trade processor (ChainLink Keepers) to cover the gas cost. In this way, $KROM tokens always circulate in a loop.
Yes! All the code is open-sourced and published on GitHub under the MIT and GPL-3.0 license. Anybody can see how it was developed and built including all those who have contributed with code over time. We also welcome open-source contributors.
Kromatika currently supports Metamask, Coinbase Wallet, WalletConnect, Fortmatic and Portis.
Follow us on Twitter to stay up to date and receive important announcements. Also, our Discord server and Telegram channel are great mediums to stay connected with the Kromatika community and the team.