dexalote
Dexalot Launches First Hybrid DeFi Subnet on Avalanche
01-Feb-2023 / 17:00 CET/CEST
Dexalot Launches First Hybrid DeFi Subnet on Avalanche
Dexalot’s novel infrastructure allows users to access a decentralized trading protocol with a centralized exchange experience
PRESS RELEASE FOR DEXALOT
Saint Petersburg, Florida | February 1, 2023 10:00 am Eastern Standard Time
decentralized cryptocurrency exchange dexalote launched on an Avalanche subnet, marking a new milestone in the evolution of decentralized business protocols.
The Dexalot subnet aims to replicate the user experience of a CEX without compromising decentralization and transparency. His team has spent months building and refining their application using the Avalanche Fuji testnet to offer an on-chain central limit order book (CLOB) with low transaction fees and support in spot trading pairs.
The subnet is a key pillar of Dexalot’s dual-chain application. Users deposit and withdraw assets through the Dexalot app on the Avalanche C-Chain and then trade on the Dexalot subnet. The communication between the main network and the subnet occurs through the passage of generic messages using high-end cross-chain communication protocols. This allows DeFi users to trade with confidence without relinquishing custody of their assets and can reduce trade execution delay.
“By using both the host chain and the exchange chain, we have optimized Dexalot for speed, security, and most of all, experience,” says co-founder and CTO Cengiz Dincoglu. “We look forward to introducing DeFi traders to the subnet on the Avalanche network and further differentiating our platform from other centralized and decentralized exchanges in the market.”
According to the Dexalot team, its unique design “lays a foundation to expand to other host chains to promote mass DeFi adoption.” The innovative implementation of the subnet is said to represent a foundation for the creation of multiple ecosystem interoperability on top of and around Dexalot.
In addition to launching its long-awaited subnet, Dexalot has confirmed that it will start a new incentive program on the same date. The Dexalot Incentive Program (DIP) will give away up to 4.8 million $ALOT tokens in the coming months (worth $1,602,618 at current prices). To be eligible for the rewards, all users need to do is connect their wallet, deposit tokens like ALOT, AVAX, BTC, ETH, USDC, USDT, and start trading.
In anticipation of the launch of the subnet, Dexalot has run two campaigns, #Stake2theSubnet and #Trade2theSubnet, to engage and educate its growing community of validators and delegators.
About Dexalot
dexalote is a revolutionary decentralized exchange that aims to bring the traditional look and feel of centralized exchange to an on-chain decentralized application. The central limit order book powered by Avalanche DEX represents an inclusive and transparent environment in which Dexalot users can trade cryptocurrencies safely and efficiently, without slippage or custody risk.
Contact details
dan edelstein
pr@marketacross.com
Diffusion of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this advertisement.
