FXDX decentralized futures exchange crosses $250m in volumes within months of launch
British Virgin Islands, UK, 31st October 2022, ZEXPRWIRE, Decentralized Finance (DeFi) has grown substantially in a short timeframe and so has FXDX Exchange. It has crossed $250m in total trading volume in about 3 months of its launch. Two of DeFi’s main goals include reducing dependency on a centralized party and access to trustless diversified financial services. FXDX ensures a trustless environment of lightning-fast trades at low transaction costs, minimizes liquidations, and maximizes gains on your trade.
FXDX is a trustless, permissionless, and non-custodial trading platform that enables you to trade derivatives such as perpetual futures and take leverage trades without having to worry about manipulation by a central counterparty.
FXDX has been able to achieve some remarkable progress already since its launch:-
- Within a week of launch, they became the most prominent decentralized trading platform on the Algorand blockchain by volume.
- FXDX crossed $250 million in total trading volumes within 3 months of launch.
- During this period, they have also been able to generate protocol revenue of over $300K.
- From a staking/liquidity provider perspective, FXDX became the decentralized Application (dApp) with the highest APR (Annual Percentage Rate) on the Algorand ecosystem. Liquidity providers currently receive an APR of roughly 200% per year on average.
FXDX is currently built on the Algorand blockchain. The problem with many blockchains is that they sacrifice at least one of the key properties of security, scalability, and decentralization, known as the blockchain trilemma. However, the Algorand blockchain overcomes this trilemma by using the Pure Proof of Stake (PPoS) Consensus protocol. Algorand makes it easy to tokenize, transfer and program conditions on any instrument of value.
Since its launch, FXDX has listed major trading assets like BTC, ETH, SOL, and ALGO, which enabled FXDX’s trading volume to reach over $250 million.
From trading to investing and beyond, accessing the DeFi platforms is easier than you might think. With FXDX, a leading decentralized derivatives exchange, you can trade or hedge your portfolio. You can learn more by visiting the platform at https://fxdx.exchange.
Company Name:-FXDX Ltd.
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