Transition to a full-fledged blockchain protocol democratizes decentralized derivatives trading for all
Miami, United States, August 5, 2024 – Today, DexToro is proud to announce an important milestone: the transition to a full-fledged blockchain protocol.
Founded by Nick Nechanicky in June 2023, DexToro is on a mission to democratize access to financial opportunities. The DexToro exchange is known for offering perpetual futures trading on various assets including cryptocurrencies, forex, and stocks.
Today, DexToro has transitioned to a full-fledged blockchain protocol. This transition means that anyone, regardless of location or background, can benefit from a full suite of products for permissionless derivatives trading. This transition is expected to be completed just a few months after their round seed closes.
A complete decentralized derivatives protocol
The decentralized derivatives market has seen significant growth in recent years, with an increasing number of traders seeking the benefits of decentralization, such as increased security, transparency, and accessibility. In fact, the crypto derivatives market alone is worth over $2.95 trillion (as of March 2023).
According to the team, platforms serving this booming market do not offer an optimal user experience, lack liquidity, limited asset support and traders may suffer from slippage, high fees and an inability to trade their preferred assets on decentralized exchanges (DEX).
DexToro believes that everyone deserves equal access to financial opportunities. That’s why the evolution towards a fully decentralized derivatives protocol is crucial to address the limitations of existing platforms and create a level playing field for all traders.
DexToro’s new product line
DexToro’s revolutionary new product suite is set to revolutionize the landscape of decentralized derivatives trading. Here’s a look at what users can expect:
On-chain derivatives exchange with self-custody
At the heart of the DexToro protocol is the Exchange, a state-of-the-art, on-chain, self-custodial derivatives trading platform that leverages the power of Ethereum smart contracts. Users have complete control over their assets for an unmatched level of security and transparency.
DexToro Exchange has processed over $120,000,000 in trading volume and collected over $70,000 in transaction fees from over 300 traders. Compared to their centralized exchange counterparts, these numbers are extremely small, with plenty of room for growth as blockchain technology continues to evolve at a breakneck pace.
Collateral-backed USD stablecoin (coming soon)
dUSD dUSD is the stablecoin that redefines stability in the volatile world of cryptocurrencies. Decentralized and backed by strong collateral, dUSD is pegged to the US dollar, providing traders with a reliable base currency for their derivatives transactions. With dUSD, users can focus on their trading strategies without worrying about the price fluctuations of their base currency.
Liquidity for Permissionless Derivatives (Coming Soon)
The upcoming Liquidity product is a revolution in permissionless derivatives trading. With support for perpetual futures, options, and pari-mutuel markets, traders can explore diverse financial opportunities across multiple EVM chains.
DexToro’s Liquidity product will be available on multiple EVM chains, ensuring that users can tap into deep liquidity pools and execute trades seamlessly on their preferred blockchain.
DexToro Smart Wallet
THE DexToro Smart Wallet is an all-in-one, on-chain margin engine that gives traders the power of decentralized, self-custodial derivatives trading.
Self-hosted crypto wallet
DexToro is taking wallet features to the next level with its upcoming self-hosted, non-custodial crypto wallet. This wallet will provide users with a secure and user-friendly way to manage their digital assets, while maintaining full control over their funds.
Enterprise: The Power of DexToro (coming soon)
DexToro can be a real powerhouse for institutional and corporate clients. Business The solutions, which include liquidity provisioning and white-label offerings, will enable businesses to harness the full potential of DexToro’s industry-leading infrastructure, liquidity and expertise.
The role of the DTORO token
THE DTORO The token is the fuel that powers the DexToro protocol. As a utility token, it serves several functions within the ecosystem, including:
- Staking for potential rewards Sharing and trading rewards
One of the main functions of the DTORO token is to allow users to stake their tokens and potentially earn a share of the protocol’s rewards. By locking up their DTORO tokens, users can benefit from the platform’s growth.
In addition to reward sharing, staked DTORO tokens provide access to exclusive trading rewards, further encouraging active participation in the ecosystem. The goal is to cultivate a strong community of token holders with a vested interest in DexToro’s long-term success.
- Governance Rights for Token Holders
DexToro is committed to building a truly decentralized platform, and the DTORO token is essential to achieving this goal. DTORO token holders are empowered to actively participate in the governance of the protocol, shaping its future direction and development.
As the DexToro community grows, demand for the DTORO utility token will increase, making it a potentially valuable asset for long-term growth. After four years of weekly inflationary token issuances, the total market supply of DTORO will be 55,527,792.
DexToro Protocol Transition Paves the Way for On-Chain Derivatives Trading
DexToro’s transition from a peer-to-contract DEX to a full-fledged protocol marks a significant milestone in the platform’s journey. With its advanced product suite including Wallet, Liquidity, and the dUSD stablecoin, DexToro is now better equipped to drive the widespread adoption of decentralized on-chain derivatives trading.
Users can join the DexToro community today and be part of the future of decentralized finance. Whether they are traders, liquidity providers, or governance participants, they have the opportunity to get involved and benefit from the growth and success of the protocol.
DTORO Token Public Sale Ends October 1, 2024
DexToro’s $5 million funding round has already generated significant buzz in the cryptocurrency world. Half of the funding round is being raised via the DTORO token, which is publicly available and closes on October 1, 2024. Investors can participate by visiting ventedetokensale.dextroro.comDTORO token holders will start receiving a portion of the exchange’s trading fees starting in Q4 of this year, says founder and CEO Nick Nechanicky.
https://youtu.be/ADIdarXaO4g
About DexToro
DexToro’s mission is to democratize access to financial opportunities.
Users can join the discussion on Discord or follow them on Twitter.
DexToro Funding Token Public Sale: ventedetokensale.dextroro.com
To learn more: DexToro.com
Media Contact
Name: Nick Nechanicky
Company: DexToro Trading Inc.
Email: support@dextroro.com
