Kayen Protocol

KAYEN is a DEX for sports assets on Chiliz Chain that went live on mainnet on 8 August 2024. It runs two market-making curves: constant product for volatile pairs and a Curve-inspired curve for stable pairs, keeping slippage low between pegged assets.

Its design for club tokens is the key difference. Native tokens carry no decimals and trade at high unit prices, which keeps small participants out. KAYEN wraps them one-to-one into 18-decimal versions that can be traded fractionally and redeemed for the original at any time through a wrapping contract. The protocol also applies dynamic directional fees, charging different rates on buys and sells to damp pool imbalance during one-sided moves. More than 250,000 testnet swaps were completed before launch, and over eighty club-token pairs are open alongside a launchpad for new projects.