ZUG, SWITZERLAND / ACCESSWIRE / January 12, 2022 / Global financial services group Globiance launched the first decentralized exchange (DEX) based on the XDC (XinFin) blockchain 4.0, GlobianceDEX, on December 8, 2021. The platform supports peer-to-peer transactions without intermediaries and offers incentives and rewards for liquidity providers.
A decentralized exchange (DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of the core capabilities of cryptocurrencies: They facilitate financial transactions that are not conducted by banks, brokers or other intermediaries.
GlobianceDEX is deployed on the XDC blockchain 4.0. The XDC network is a growing blockchain platform that has enhanced its predecessor Ethereum’s vision for a decentralized, blockchain-powered ecosystem with code-enforceable smart contracts. The XDC network is fully compatible with Ethereum Virtual Machine (EVM), enabling it to attract a large community of Ethereum developers and encouraging various dapps , built on the Ethereum network, to migrate to XDC. Nearly zero gas fees, 2 seconds transaction time and 2000 TPS are other factors that make it attractive to build on XDC Network.
In this way, Globiance leaves behind the traditional architecture of digital exchanges, as the new platform has no order book and works with a design called Automated Market Maker (AMM).
GlobianceDEX The first and currently only decentralized exchange, the first of its kind on the XDC network, live since 8.12.2021 allows trading in all types of assets. Traders can customize slippage, deadline, and swap path according to their needs. New projects can launch tokens directly after their successful deployment on the blockchain.
First generation stable coins suffer under low transaction speed and high gas fees.
GlobianceDEX was developed as an Automated Market Maker (AMM), using EURG and USDG stablecoins as underlying prices pegged to their respective fiat currencies, and GBEX, USDG, and WXDC as a common base. The Globiance stablecoins EURG, USDG (XRC-20) also benefit from lowest possible fees and instant transfers, enabling Interoperability with ISO20022 messaging standards making them the most reasonable stablecoins in the market.
AMMs are smart contracts that hold liquidity reserves or pools of liquidity that traders can trade against. These reserves are funded by liquidity providers. Anyone can be a liquidity provider who deposits an equivalent of two different tokens into the pool. In return, traders pay a fee to the pool, which is then distributed to liquidity providers according to their share of the pool.
Liquidity providers create a market by depositing an equivalent of two tokens. In return, liquidity providers receive “liquidity tokens” representing their share of the total liquidity pool. These liquidity tokens can be redeemed for the share they represent in the pool. Funds can be withdrawn at any time.
GlobianceDEX supports Private Key, Keystore, D’CENT, and XDCPay/XinPay as methods for connecting wallets. The team is working to expand connectivity options.
For more information, please read the GlobianceDEX frequently asked questions.
What’s next for GlobianceDEX?
Globiance never rests! The company is working around the clock to enhance the platform and improve and create new incentive models for liquidity. For example, yield farming with liquidity pool tokens and staking are being considered.
In addition, a multi-asset platform (Cross DEX) is a goal. GlobianceDEX is developing an NFT marketplace, NFT gaming and more!
GlobianceDEX is the new member in the Globiance family. Previously, the company successfully launched stablecoins, crypto payment gateways, the Globiance Centralized Exchange, traditional banking services, and GBEX, a third-generation exchange token used across all platforms which is the base token of the entire Globiance ecosystem.
The team, led by CEO Oliver Marco La Rosa and CPO Irina La Rosa, is also working to expand all of its businesses around the world.
More about Globiance
Globiance is a financial services group consisting of cryptocurrency exchanges and financial institutions in North and South America, Europe, Africa, Asia, and Australia. Founded in 2018, Globiance provides financial services to corporate and retail clients. The Globiance platform includes cryptocurrency and fiat currency exchange and trading (SGD, EUR, HKD, GBP, USD, etc.), stable coins (EURG, USDG, SGDG … ) in major currencies, payment solutions, and global remittances.
For more information please visit:
GlobianceDEX website: https://dex.globiance.com/
Globiance website: https://globiance.com/
For more information, please contact:
Managing Director Globiance Switzerland
SOURCE: Globiance CH AG
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