This week, a beta of the new permissionless decentralized cryptocurrency exchange DEXY was launched, and currently ADX is the most traded token on it.
We are incredibly happy for the mainnet beta launch of DEXY — a pemisionless decentralized token exchange.
The beta version of the exchange is now live and fully operational, and ADX tokens have reached a trading volume of 16 ETH over the past 24 hours thus holding the first spot for the token with highest liquidity as of time of writing.
You can easily trade ADX on DEXY just with a Metamask/Ledger/Trezor account.
What is DEXY
DEXY is a permissionless decentralized exchange that is designed to fill the gaps where centralized exchanges fail their users; it combines all the significant benefits of said centralized exchanges with the power and flexibility of a decentralized one.
The exchange comes packaged as a sleek, user-friendly and incredibly intuitive DApp for custodian-free P2P token swaps. It supports the ERC20, ERC777 and ERC 223 Ethereum token standards, and users can find a market by the address of a token contract. This means that while the front-page tokens are determined by popularity, you can still trade any token just by knowing it’s smart contract address.
As the exchange is custodian-free, users remain in control of their tokens 100% of the time. The funds for every trade placed are always kept in the user’s wallet or held by a secure smart-contract.
Currently, all ETH:TOKEN trading pairs are available on the platform. TOKEN:TOKEN trades are already supported via the smart contract, and orderbook support and NFT support are promised to be introduced too.
DEXY currently supports MetaMask, Ledger, and Trezor wallets; in fact, this is one of the first decentralized exchanges to offer full support for Trezor.
For the first month after the launch, users can give DEXY a test run free of charge; the fees after that period will also be very competitive — 0.25% on the taker side only (makers will never be charged any fees).
There is also a bug bounty going on, and the rewards go up to $10,000 depending on the impact of the detected bug.
The DEXY team
DEXY is the brainchild of Matthew Di Ferrante, Dean Eigenmann and our own Ivo Georgiev.
Matthew is a member of the Ethereum Foundation security team and founder of ZK Labs. Dean is the founder of Harbour Project, a ZK Labs auditor and ENS developer. Ivo is a founder of Stremio and AdEX, and a vivid Ethereum contributor.
The AdEx and DEXY developers teams are in close contacts, collaborating on solving various challenges and improving the overall blockchain ecosystem. This cooperation has been incredibly beneficial for both projects, and has significantly sped up the development of the two DApps.
We at Team AdEx are extremely excited about this partnership and are looking forward to the ADX liquidity on DEXY to grow exponentially.
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