DPEX : Self-custody, Safety And Good Leverage Are Key To Managing Crypto Assets
Over the last year the decentralized finance (DeFi) space was turned upside down at the hands of centralized exchanges.
The liquidity crisis and bankruptcy of the centralized FTX exchange had users vying for more sovereignty over their crypto assets while service providers scrambled to show proof of reliability. This moment in the history of the crypto space marked a turning point, with a new spotlight on the benefits and security of decentralization.
Enter DPEX: the decentralized perpetual exchange on the Polygon blockchain. The DPEX ecosystem is focused on filling in those gaps left by centralized exchanges to offer a safe and secure platform for trading digital and crypto assets and to do so with maximum leverage of up to x50.
One of the most tangible benefits of decentralized exchanges is the freedom allotted to users to make the most of their trades without overexposing their personal data. With DPEX, unique cryptographic algorithms secure each account to minimize the vulnerabilities those in centralized ecosystems face.
Additionally, DPEX embodies the innovative spirit of DeFi via its perpetual contracts with no expiration dates to offer a myriad of possibilities for users. Its foundation on the Polygon ecosystem makes for lightning-speed transactions and low transaction speeds.
Your crypto in your custody
However, before the trading begins, users need to understand the importance of keeping custody of their assets.
When dealing with centralized exchanges and centralized crypto asset platforms in general, custody over assets can sometimes be in the hands of the exchange. As seen in the FTX scenario, users who held their assets in the centralized ecosystem were stuck when trying to retrieve funds after the platform was compromised. According to some estimates, more than one million people lost funds in this incident.
Users that practice self-custody have the responsibility to mind their digital assets through the management of a private key. Some non-custodial options for maintaining decentralized digital assets include wallets like Metamask and the Trust Wallet. Hard wallets, or offline storage, are also an efficient way of safely managing assets.
Moreover, with DPEX, users can leverage built-in smart contracts that never expire, which have all been audited by CertiK and Zokyo prior to launch to ensure top security.
Trade with leverage
When assets are properly managed, traders can feel more at ease to engage with platforms and make impactful trades. DPEX offers the ability to trade tokens such as MATIC, ETH, and BTC with low fees, zero price impact and leverage of up to x50 on short and long positions.
Users have access to multi-asset liquidity pools, which makes room for profits to be earned via swaps, market making, spreads and leveraging trades at competitive rates. Additionally, users can reap actual rewards for providing liquidity to the ecosystem.
Trades conducted within the platform are automatically executed, which takes out the necessity for human intervention or any middleman that would hinder a seamless transaction.
Get connected with airdrops
Traders who have already plugged into the DPEX ecosystem had the opportunity to be a part of one of the most exciting DeFi airdrops of the year. The exchange airdropped 1 million eDPEX tokens on the Polygon chain to 222,646 holders of GMX, dYdX and Synthetix.
The eDPEX token was the ecosystem’s early bird symbol, allowing all holders to trade 1:1 ratio with the DPEX native token.
The possibilities of Polygon
All of these DeFi opportunities – leverage trading, low fees, quick transactions, keeping keys private, top security- in the DPEX ecosystem were made possible through the mainnet launch.
As of February 1st, 2023, DPEX was live on the Polygon mainnet.
Prior to the official mainnet launch, however, the exchange had an eventful start. Within weeks of forming, the DPEX decentralized exchange had several funding rounds including its seed round, private sale and pre-IDO – all of which sold out in hours.
In these initial stages of operations the exchange has collected feedback from users, which is all pointing in the right direction. DPEX technology and transaction time is first-rate in the world of DeFi trading.
With an already eventful and successful launch, the future is bright for DPEX.
The exchange plans to continue developing new technologies to create a more efficient and easy trading experience for new and veteran traders alike. This includes self-hosted APIs to conduct trades with popular charting software via automated scripts. These scripts will be able to be executed directly on the Polygon blockchain through webhook commands.
Additionally, DPEX plans to follow up with its pre-IDO by introducing an IDO on a launchpad in the near future.
These are only the tip of the iceberg for what is in store for DeFi traders. Stay tuned for those looking to get the most out of their trades and decentralized financial experience in general. This is only the beginning!