DexMex Introduces Decentralized Leverage Trading to DeFi
The uniswap-based first decentralized exchange to allow peer-to-peer leverage trading, DexMex, is delighted to launch its new domain, app.dexmex.trade, at dexmex.trade. The launch took place on Sunday, 21 March, 19:00 UTC. The new domain will enable users to enjoy a new UI and short or long several ERC-20 tokens including $ETH-wBTC, $UNI-ETH, $ETH-USDC, $ERN-ETH, $LINK-ETH, $1INCH-ETH, $MATIC-ETH, $AAVE-ETH, $MKR-ETH, $DEXM-ETH with ease.
Aided by SWISS Finance’s Thiago Burgunder, DexMex becomes a part of the first Contract For Difference(CFD) platform on the Decentralized exchanges space. A CFD is a derivative instrument that gives you exposure to an asset’s price change, either short or long. The platform will also issue an AMA regarding the $DEXM project, hosted by The Gem Hunters in their telegram channel t.me/TheGemHuntersTG at 14:00 UTC.
New UI, More Features
The two main features of the DexMex platform that are currently integrated into the new easy and convenient domain include peer-to-peer leverage trading, and liquidity that does not end in the contract.
The new domain is easy to use, shows the minimum fund for each group and the rewards reaped from winning positions awarded by losing positions. Since the platform works within the Ethereum Network, you are not forced to borrow to short or long tokens. The platform is a CFD: payout or loss is limited by the liquidity on the side that bet against you.
The liquidity can get generated over a while, and users can withdraw or deposit ETH to their convenience. The option to connect to your wallet is also visible on the new website. DexMex’s development aims to remove the need for users to give their identities by creating a fully decentralized network.
You can now stake your $DEXM or join in the highly acclaimed peer to peer leverage trading at app.dexmex.trade
At DexMex, it is entirely needless to provide liquidity or loan assets to short or long a token. Hence, the liquidity available is not restricted to the collateral available. Additionally, because DexMex stands by the principle that every position raises a theoretical possibility, you may be able to short a token with far more than what the collateral is available freely.
Users can earn little rewards from this position. Since the profits are limited, the risk is also limited as you will not get liquidated. To find out more about DexMex or participating in leverage trading, visit here.
The newly developed website also has a portal for staking the exchange’s native token, $DEXM, where users will reap their profits in ETH. A 0.8% fiat fee is charged when you trade on the DexMex platform, lower than any available decentralized leverage trading platform.
While staking $DEXM, the token holders will earn a 0.4% commission for every trade within the platform. After that, generated fees from 0.2% of all transactions will buy back DexMex and burn the tokens to decrease the supply. As for service fees, the 0.2% fees proceeds are used within the network as follows:
- 0.1% is allocated to the treasury managed by the DexMex community
- 0.1% is used to fund the pool voted by the community
Moreover, $DEXM token holders are also given some governing abilities on the DexMex ecosystem. Users with 100K $DEXM can disregard or approve tokens that can get traded on the platform as they have voting rights. They will also have complete control to list and trade cryptocurrency that meets the exchange requirements, creating a fully decentralized network.
For more information on token staking rewards and voting rights, visit https://www.dexmex.info/
DexMex’s Future Plans
After the launch of app.dexmex.trade, DexMex plans to integrate new products related to trading on its network. The platform is also trying to find ways to solve various problems facing the trade and scalability of Non Fungible Tokens (NFTs). Furthermore, DexMex will be issuing rewards to anyone who is trading on the platform.