SINGAPORE, Feb. 8, 2021 /PRNewswire/ — DMEX, a decentralized cryptocurrency exchange, has launched public trading of derivatives with no gas fees in response to the growing demand for new products among crypto users and rising fees on the Ethereum network. The launch comes after rigorous testing of the platform’s features has proven its effective operation and smooth user experience.
DMEX reduced gas fees to a near zero level by using xDAI sidechain for processing trading transactions, while keeping user funds stored on the Ethereum blockchain. The transition allows traders to place orders starting from $10. Users can now send withdrawal requests from the xDAI trading contract to the Ethereum custody contract, bypassing gas fees.
DMEX offers users a selection of trading pairs and perpetual contracts with up to 100x leverage, with BTC, ETH, or DAI as margin currencies. Among the advantages that set DMEX aside from other crypto exchanges are the ability to retain full custody of funds while trading and no KYC procedures.
The new market options and user experience provided by DMEX has seen high demand among professional traders looking for more reliable platforms free from third-party pressure as the market is gradually moving away from centralized trading to decentralized platforms. The traders’ need for anonymity and desire to refrain from the restrictions set by regulations is also giving exchanges like DMEX, with their lack of KYC requirements, the attention and community support that ensures their development.
The DMEX development team is intent on expanding the functionality and capabilities of the platform. Plans for the near future include the addition of new currency pairs and margin currencies to expand the list of tradable assets and attract broader audiences of users. The exchange also plans to expand its market presence and take up a larger share of the decentralized trading industry, basing its expansion on the product offering and value for users.
DMEX is the first decentralized margin exchange with up to 100x leverage that offers derivatives trading with zero gas fees and no KYC requirements. Powered by Ethereum smart contracts, DMEX provides secure trading services ensuring that only user can access and control their private data and funds.