DexToro’s Evolution: From Peer-to-Contract DEX to Comprehensive Decentralized Derivatives Protocol
Miami, United States, July 11th, 2024, Chainwire
Today, DexToro is proud to announce a significant milestone — the transition to a full-blown blockchain protocol.
DexToro, founded by Nick Nechanicky in June 2023, has been on a mission to democratize access to financial opportunities. The DexToro exchange is known for offering perpetual futures trading across various assets, including cryptocurrencies, forex, and stocks.
Today, DexToro transitioned to a full-blown blockchain protocol. This transition means that anyone, regardless of location or background, can benefit from a comprehensive suite of products for permissionless derivatives trading. This transition is set to complete only a few months after their seed round closes.
A Comprehensive Decentralized Derivatives Protocol
The decentralized derivatives market has grown significantly in recent years, with an increasing number of traders seeking the benefits of decentralization, such as increased security, transparency, and accessibility. In fact, the crypto derivatives market alone is worth more than $2.95 trillion (as of March 2023).
According to the team, the platforms servicing this booming market have fallen short regarding user experience, lack of liquidity, limited asset support, and traders can suffer from slippages, high fees, and an inability to trade their favorite assets on decentralized exchanges (DEXs).
DexToro believes that everyone deserves equal access to financial opportunities. That’s why the evolution to a comprehensive decentralized derivatives protocol is crucial in addressing the limitations of existing platforms and creating a level playing field for all traders.
DexToro’s New Product Suite
DexToro’s groundbreaking new product suite is designed to revolutionize the decentralized derivatives trading landscape. Here’s a sneak peek at what users can expect:
On-Chain Self-Custodial Derivatives Exchange
At the heart of the DexToro protocol is the Exchange—a cutting-edge, on-chain, self-custodial derivatives exchange that harnesses the power of Ethereum smart contracts. Users completely control their assets for an unmatched level of security and transparency.
Collateral-Backed dUSD Stablecoin (coming soon)
dUSD is the stablecoin that redefines stability in the volatile world of cryptocurrencies. Decentralized and backed by robust collateral, dUSD is soft-pegged to the US Dollar, providing traders with a reliable base currency for their derivatives transactions. With dUSD, users can focus on their trading strategies without worrying about the price fluctuations of their base currency.
Liquidity for Permissionless Derivatives (coming soon)
The upcoming Liquidity product is a game-changer for permissionless derivatives trading. With support for perpetual futures, options, and parimutuel markets, traders can explore various financial opportunities across multiple EVM chains.
DexToro’s Liquidity product will be available across multiple EVM chains, ensuring users can tap into deep liquidity pools and execute trades seamlessly on their preferred blockchain.
DexToro Smart Wallet
The DexToro Smart Wallet is an all-in-one, on-chain margin engine that gives traders the power of decentralized and self-custodial derivatives trading.
With a comprehensive suite of tools, the Smart Wallet enables users to manage their positions, collateral, and risk exposure. Whether they’re a seasoned trader or just starting out, the Smart Wallet can be a user’s key to unlocking the full potential of derivatives trading.
Self-Hosted Crypto Wallet
DexToro is taking wallet functionality to the next level with its upcoming self-hosted, non-custodial crypto wallet. This wallet will provide users with a secure and user-friendly way to manage their digital assets, all while maintaining complete control over their funds.
With an intuitive online dashboard and a feature-rich mobile application, interacting with the DexToro ecosystem can be easier and more accessible. Stay tuned for the wallet’s official release, and join us on our journey to decentralize the financial world.
Enterprise: DexToro’s Power (coming soon)
DexToro can be a powerhouse for institutional clients and businesses. The upcoming Enterprise solutions, which include liquidity provisioning and white-label offerings, will enable companies to harness the full potential of DexToro’s cutting-edge infrastructure and expertise.
Whether a user is looking to create a customized derivatives trading platform or integrate DexToro’s liquidity into their existing services, the Enterprise solutions aims to provide the tools and support their need to succeed in the rapidly evolving world of decentralized finance.
The Role of the DTORO Token
The DTORO token is the fuel that powers the DexToro protocol. As a utility token, it serves multiple functions within the ecosystem, including:
1. Staking for Potential Revenue Share and Trading Rewards
One of the primary functions of the DTORO token is to enable users to stake their tokens and potentially earn a share of the protocol’s revenue. By locking up their DTORO tokens, users can benefit from the platform’s growth.
In addition to revenue sharing, staked DTORO tokens grant access to exclusive trading rewards, further incentivizing active participation in the ecosystem. The goal is to cultivate a strong community of token holders with a vested interest in the long-term success of DexToro.
2. Governance Rights for Token Holders
DexToro is committed to building a truly decentralized platform, and the DTORO token is crucial in achieving this goal. DTORO token holders are empowered to actively participate in the protocol’s governance, shaping its future direction and development.
Through a transparent and democratic voting process, token holders can propose and vote on key decisions, such as protocol upgrades, new feature implementations, and changes to the platform’s economic model. This decentralized governance structure ensures that the DexToro protocol remains aligned with the interests of its community and adapts to the market’s evolving needs.
As the DexToro community grows, demand for the DTORO utility token will increase, making it a potentially valuable asset for long-term growth. After four years of weekly inflationary token emissions, the total supply of DTORO on the market will be 80,527,792.
Embracing the Future of Decentralized Trading
DexToro’s transition from a Peer-to-Contract DEX to a full-blown protocol marks a significant milestone in the platform’s journey. With its advanced product suite — including the Wallet, Liquidity, and dUSD stablecoin — DexToro is now better equipped to drive the widespread adoption of decentralized derivatives trading.
Users can join the DexToro community today and become a part of the future of decentralized finance. Whether they’re a trader, liquidity provider, or governance participant, there are opportunities to get involved and benefit from the protocol’s growth and success.
About DexToro
DexToro’s mission is to democratize access to financial opportunity.
Users can join the discussion on Discord or follow them on Twitter.
To learn more: DexToro.com