(ProNewsReport Editorial):- Tafuna, Western Jun 3, 2021 (Issuewire.com) – Decentralized exchanges have been present in the crypto industry for several years now, but they never saw enough traffic to be a real threat to centralized platforms.
DEXes had their fair share of issues, such as regulatory uncertainty, low liquidity, longer wait times, and alike. All of this worked against them, as they simply did not have enough to offer to attract more traffic. The only thing they had going for them was decentralization and greater levels of anonymity. However, with crypto transactions being mostly trackable, this was not appealing to the majority of users.
This changed with the rise of DeFi in 2020 and 2021, and DEXes is finally gaining the attention they wanted for several years now. DeFi projects started attracting a huge amount of attention.DeFi has the fastest growing and most demanding market currently in the field of smart contracts. It can be integrated into the traditional infrastructure off the chain and reshape the existing financial system.
Now, a new generation of DEXes is emerging — SpaceDEX independently develops the DEX matching transaction protocol and configures the decentralized matching transaction engine at the bottom of Runtime.
A Model for the Next Generation DEX
Different from the centralized exchange that stores user funds and personal data in servers, as the infrastructure of blockchain digital economy, SpaceDEX matches the buyers and sellers who buy and sell digital assets through the decentralized matching mechanism, which realizes the world’s first truly decentralized matching trading platform. Based on the Substrate heterogeneous relay cross-chain and super smart contract technical framework, and with the help of the SpaceDEX matching engine, transactions will occur directly between participants (point-to-point), which has obvious advantage in security compared to traditional mode and can significantly reduce various risks caused by human factors, and provide users with more open, transparent, safe, free and reliable decentralized digital asset trading services. SpaceDEX does not control the assets of users. On the contrary, assets are still stored on the blockchain (relay chain or parallel chain) and managed by users themselves. In this way, without the transfer of asset management rights, the risk of loss will be greatly reduced. In order to solve the pain points of users in traditional trading systems, SpaceDEX has developed and promoted the following excellent exchange features.
SpaceDEX decentralized exchange is built based on the DEX protocol with the underlying Tequila Chain. The SpaceDEX trading engine provides powerful decentralized high concurrency processing and safe transaction capabilities through heterogeneous relay cross-chain and super smart contract technology. Focus on the decentralized matching trading platform to provide users with more open, transparent, safe, free, and reliable decentralized digital asset trading services. It is offering a large variety of services, such as P2P and in-house loans, cross-chain bridge, staking, OTC, SWAP and decentralized exchanges, and more. It represents a new generation of decentralized exchanges, and as an early mover, it has great potential to become a leader among DEXes.
The native token of the world’s first truly DEX
SwapDEX also has its own native token, STP and SPB. SPT, the full name of SpaceDEX Token, was created to issue 10,000 coins. SPT is the platform token that realizes functions such as transaction service fee, currency application, DEX protocol use application, wallet advertising application, etc. Its price stability and circulation quantity are balanced through mathematical algorithms. SPT will be used primarily for governance and staking. Those who opt to use it for staking will be able to earn a passive income, as they will receive staking rewards for keeping their coins locked up.
SPB, the full name of SpaceDEX Bond, is issued by Treasury, produced on demand, and has no fixed quantity. SPB is a smart contract that issues and accepts SPB bonds to regulate and stabilize the price of SPT. When the SPT price is lower than USD0.95, the discount subscription is opened; when the SPT price is higher than USD1.05, the redemption is opened, and the subscriber obtains revenue.
For governance, by holding onto their tokens, users will also be able to vote on various proposals submitted by other token holders or submit their own ideas for review and voting. As mentioned, users will also be able to lend money, either from the house or from other users. This is another great way for users to increase their wealth by not engaging in trading, as they can let others borrow their funds, and then repay them with interest. That interest will be pure profit for the lender.
The exchange is still young, and many of its aspects are still in development. However, it is growing rapidly, and it has a rather interesting marketing strategy.
This article was originally published by IssueWire. Read the original article here.
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