March 23, 2021 8:21 am EDT The DexMex Project Introduces Decentralized Leverage Trading to DeFi Join Us on Google News
DexMex is the first decentralized exchange based on Uniswap that offers peer to peer leverage trading.The Switzerland-based protocol, scheduled to become fully operational by late Q1 2021, facilitates DeFi investors to short or long a wide variety of ERC 20 tokens such as LINK, Aave, MKR, and many others.We have a new domain for $DEXM at https://t.co/ITTRZSZdo6 Long and short any of the following tokens with ease, and enjoy the new UI at https://t.co/yqw7XGIm74 $ETH -wBTC $UNI -ETH $ETH -USDC $ERN -ETH $LINK -ETH — DexMex (@OfficialDexMex) March 21, 2021
Crypto enthusiasts enjoy infinite flexibility as they can open a long or short position against any token listed on Uniswap.Users do not have to wait for their favourite token to list on a centralized exchange (CEX) that supports margin trading; DexMex facilitates DeFi investors to trade with leverage straight away! – Advertisement –
The team of pioneers in DeFi behind DexMex created the project to introduce a whole new concept to the world of decentralized exchanges (DEXs).Crypto lovers can finally long and short any available tokens with ease and enjoy a revamped user experience at https://app.dexmex.trade .
DexMex, which currently boasts just under $314 M in total liquidity locked, successfully held the presale of its native DEXM token on 13th Feb at 17:00 UTC.Presale will begin February 13th 17:00 UTC.All unsold $DEXM tokens will be burnt.We have been working very hard behind the scenes and we are very excited to announce that DexMex will be the first ever project to do a leverage system without any borrowing collateral.pic.twitter.com/mHPAmudjSp — DexMex (@OfficialDexMex) February 10, 2021 Advantages of Trading on DexMex
The bulk of trading derivatives in the crypto space currently occurs on CEXs, with Binance and Bitmex holding the lion’s share of more than 100 billion in monthly trading volume.
However, these centralized platforms subject users to stringent KYC restrictions and external regulations that undermine privacy.
These centralized platforms also often encounter temporary closures or manipulations that affect a user’s UI and the ability to maximize returns.Deposit and withdrawals on CEXs also take time since they have to be verified by a third party.
DexMex has stepped up to solve these problems with its decentralized exchange based on Uniswap, which combines peer-to-peer trading with leverage.
Unlike in CEXs, traders are guaranteed that their position will never be de-leveraged or closed automatically.Moreover, deposit and withdrawals are made in seconds since the protocol is based on the Ethereum blockchain.$DEXM is going crazy ! So happy to have helped this project achieve major growth and be part of the first CFD decentralized platform out there — Thiago B.
(@BurgunderThiago) March 20, 2021
DexMex protocol has emerged as the first decentralized contract for difference (CFD) platform out there! The protocol aims to combine DEX volumes (valued at about $50M) with the aspects of leverage on CEXs (>200 billion monthly volume).DexMex does this in a smoother and better way than any other decentralized platform.Understanding Leverage Trading On DexMex
The 100% decentralized platform solves the liquidity problem in DeFi by integrating smart contracts that determine the value of the short and long positions via a direct ratio between the interest of the shorts and that of the longs.Leverage is then updated each time a user withdraws their token holdings or profits.
Moreover, the winning positions are rewarded directly with the value of losing positions, eliminating the need to have a large pool of liquidity lenders for the protocol to work.Everything is calculated between the short and long interest pool, and rewards are directly determined against the value of the losing positions.
DexMex also guarantees confidentiality in trading as it does not require its users to go through any KYC procedures or create an account.The protocol functions similarly to Uniswap; thus, there is no need to take any additional steps to participate in trades.
All margin trading occurs directly via a user’s MetaMask web wallet, ensuring that funds are always 100% in their control.
All investors can hold a long or short position open as long as they wish, similar to a perpetual futures contract on CEXs.Fees, Voting and Governance On DexMex Protocol
DexMex offers the lowest commissions in decentralized leverage trading by charging only one entry fee set at 0.8% with no hidden levies.
Holders of the project’s native DEXM token can earn 0.4 % commissions of all trades in the protocol by staking their tokens.
Stakers earn commissions directly in ETH.
0.2% of the fees are either used to buy back DEXM tokens, which are burned to increase scarcity.An additional 0.2% is put in the treasury fund, which is entirely in the control of the DEXM token holders.
Community members also have complete control over all variables in the platform and can vote on vital issues such as platform fees and future upgrades.How useful was this post? Click on a thumb to rate it! Submit Rating We are sorry that this post was not useful for you! Let us improve this post! Tell us how we can improve this post? Submit Feedback.