DeFi
thenewscrypto.com
01 February 2023 15:22, UTC
Reading time: ~2 m
Launching on an Avalanche Subnet, the decentralized cryptocurrency exchange Dexalot represents a new breakthrough in the development of decentralized trading protocols.
Without sacrificing decentralization and transparency, the Dexalot Subnet seeks to imitate the user experience of a CEX. Using the Avalanche Fuji test network, its team has spent months developing and fine-tuning its application to provide an on-chain central limit order book (CLOB) with minimal transaction costs and support for several spot trading pairs.
A crucial component of Dexalot’s dual-chain application is the Subnet. Users trade on the Dexalot Subnet after making deposits and withdrawals using the Dexalot application on the Avalanche C-Chain.
High-end cross-chain communication protocols are used for generic message transfer during communication between the Mainnet and Subnet. This may lessen slippage in trade execution and allows DeFi customers to trade with confidence without giving up custody of their assets.
“By utilizing both the host chain and exchange chain, we have optimized Dexalot for speed, safety and above all, experience,” says Co-Founder and CTO Cengiz Dincoglu. “We are looking forward to introducing DeFi traders to the Subnet on the Avalanche network, and to further differentiating our platform from other centralized and decentralized exchanges in the market.”
According to the Dexalot team, its unique design “establishes a base for expanding to other host chains to further DeFi mass adoption.”
Moreover, the creative Subnet implementation will serve as a base for the development of several ecosystem interoperabilities on top of and around Dexalot.
Dexalot has announced that it would begin a new Incentive Program on the same day that it will launch its much anticipated Subnet. Over the following months, the Dexalot Incentive Program (DIP) will distribute up to 4.8 million $ALOT tokens, which are now valued at $1,565,579 in value. Users just need to link their wallet, deposit tokens like ALOT, AVAX, BTC, ETH, USDC, or USDT, and begin trading in order to be eligible for rewards.
Dexalot has launched two initiatives, #Stake2theSubnet and #Trade2theSubnet, to involve and inform its expanding community of validators and delegators in anticipation of the Subnet debut.
Sourced from cryptonews.net.
