Peer-to-Peer Leverage Trading With DexMex, Uniswap’s Decentralized Exchange
(Via ZEXPR) DexMex exchange is a decentralized exchange that allows users to experience peer-to-peer leverage trading. The platform campaigns for eliminating centralized exchanges’ limitations, giving its customers the opportunity to long or short Uniswap tokens.
The Switzerland-based exchange stands out against its competitors in that it is truly self-governed. Maintaining decentralization ensures there are no problems users may face while trading on centralized exchanges. It gives the community a chance to make decisions concerning the trade and gives users more confidence in the platform.
Furthermore, DexMex holds user anonymity on high standards; anyone wishing to use the platform does not require to provide any personal information. Connecting your MetaMask wallet to the platform is the only step necessary for you to start your trade.
Since its successful presale on 13 February, the platform is gaining an unbelievable following, owing to the relatively new concept of decentralized trading platforms. Currently, it has a whopping $314 million in total liquidity locked within its ecosystem.
Its recently introduced domain is a way to improve user experience through more straightforward access to trading features.
Bringing The P2P Mechanism into Leverage Trading
Peer-to-peer services are among the most appreciated inventions within the crypto and financial space. DexMex’s move to include p2p functionalities for leverage trading saves users the time needed for a new token’s listing on centralized exchanges to participate in margin trading.
The concept behind its system is that losing positions straightforwardly reward the winning positions throughout. The platform will formulate a ratio between the short and long interest of a specific token that resets every time a withdrawal is made.
It is worth noting that each ERC-20 token contains a pool on the DexMex network. Any trader who believes a token will spike in value, deposit ETH on the long interest pool. On the other hand, users will deposit the assets in the short interest pool if they believe that the same token will plunge.
The whole process is simultaneous as the system calculates the leverage depending on the ratio between the pools. Therefore, it all depends on the network predictions after a user withdraws their assets from the pool.
Governance Rights with DMEX Token
DexMex’s native token is DEXM, holding various functions on its ecosystem. It is an ERC-20 token with a total supply of 50 million DEXM. 19 million was distributed during the presale, 6 million to seed sale, 10 million to Uniswap listing, 10 million to team and development, and finally, 2.5 million to marketing, exchange listings, and partnerships.
DEXM holders gain a say in the upgrades the platform may undergo, how treasury funds will be allocated, and fee distribution. Furthermore, users can stake DEXM to directly earn ETH, with 0.4% commissions from all trading activity on the platform going to the stakers.
0.2% fees of the total fees acquired from the platform’s activities will be used to replenish the DEMX reserves by buying more tokens.
The Undeniable Benefits
DexMex hopes to provide its users with the most accessible services on its platform. Besides its new domain, other factors such as requiring a MetaMask wallet alone for trade, direct linkage to the ETH blockchain, and flexibility enable this objective to come to light.
Another thing to consider is the lack of liquidity obstacles, and borrowing is an icing to the cake. Losing positions are directly linked to winning positions for immediate payout during a trade.
The platform is without doubt conscious about the privacy of all users, excluding the need for KYC procedures.
Finally, once you pay the entry fee, you set your positions on the platform. This fraction of funds is 0.8%, assuring users of no later hidden charges.
The network has massive plans for the future, hoping to create revolutionary partnerships to help in its growth. Moreover, it hopes to ramp up its marketing strategies to attract more users to its platform.
