XODEX launches DEX with Upcoming Kaspa Integration
Dubai, UAE, August 5th, 2024, Chainwire
XODEX is pleased to announce the launch of its innovative trading platform, marking a significant step towards becoming the first decentralized exchange (DEX) supporting the Kaspa blockchain. The Beta version, released on July 15th, includes bug bounty rewards to ensure platform security and performance.
XODEX integrates seamlessly with the Kaspa network, offering a staking option for Kaspa holders and enabling swaps between Kaspa and stablecoins. This unique positioning provides different opportunities for users to securely trade perpetual futures with up to 50x leverage, earn yield as liquidity providers, or explore increased token trading options.
Designed with a focus on delivering a decentralized experience, XODEX boasts an enhanced user experience (UX) and user interface (UI). The platform supports omni-chain trading, low fees, and gas-less transactions, ensuring accessibility and cost-effectiveness for all users.
The self-custody model guarantees that traders retain full control over their funds, enhancing security. Additionally, the decentralized node program eliminates single points of control, ensuring resistance to censorship and operational failures.
To attract liquidity, XODEX offers competitive yield opportunities for liquidity providers and self-custody staking for Kaspa holders. In the coming months, XODEX plans to integrate with popular wallets and establish strategic partnerships to strengthen its market position.
A Phased Implementation Strategy
In a rapidly evolving market with unpredictable opportunities to capitalize on, XODEX will keep its core solution consistent while ensuring the product delivering it remains adaptable.
Consequently, development will follow a strategic yet flexible phased rollout, ensuring robust functionality and optimal user experience through careful monitoring and enhancements at each stage:
- Phase 1: The initial phase focuses on bridging Kaspa with a high-performing Ethereum Virtual Machine (EVM) layer, enabling self-custody for perpetual trading, liquidity providing, and swaps.
- Phase 2: The platform will update to settle transactions directly on the Kaspa blockchain, eliminating the need for EVM wallets. The EVM layer will handle business logic, while Kaspa handles transactions for added security and efficiency. Once Kasplex launches their trading opcodes, XODEX will utilize them for atomic swaps.
- Phase 3: Full support for Kaspa transactions will be implemented using zero-knowledge (zk) technology through Kaspa smart contracts. This will ensure scalability and further enhance platform functionality.
- Phase 4: All solutions developed by XODEX to enhance functionality and value on Kaspa will be extended to other networks once Kaspa smart contracts are live.
XODEX is poised to redefine the landscape of digital asset trading by connecting diverse blockchain ecosystems and offering a unified, accessible, and secure platform for traders worldwide. Third party audits will be conducted throughout development as and when appropriate.
About XODEX
XODEX is a decentralized exchange dedicated to delivering a secure, efficient, and seamless trading experience across multiple blockchains. The platform leverages advanced technology to offer high liquidity, low fees, and a user-friendly interface for traders. For more information, users can follow XODEX on X or join the active community of almost 7000 members on Telegram.
