- October 23, 2020
- Posted by: icoblock
- Category: Press Release
The DEXToken Protocol continues on schedule towards its December 2020 public Beta release date. This unique decentralized platform plays a vital role in the Flowchain ecosystem. Specifically, the DEXToken Protocol builds a decentralised exchange platform featuring an unique AMM and effectively connecting Flowchain IoT ecosystems to decentralized finance.
Staking is a Feature Users Require
Staking is a blockchain-related process that involves a user locking their cryptocurrency in a smart contract for an agreed amount of time. Stakers receive rewards for their services. There are various reasons to stake cryptocurrencies.
8-Rounds to Stake
In the DEXToken protocol, staking is how the firm increases liquidity. DEXToken does away with initial coin offerings and instead introduces DEXG staking. The firm plans to host eight staking rounds in total. The next round, named LUNA, is set to begin on October 23, 2020. Users that participate in the event receive a respectable reward of 5,250 DEXG.
LUNA Staking Round
The staking period for this staking event is October 23 – 30, 2020. DEXTokens AMM calculates the staking rewards for each round and mints new DEXG tokens at the start of the round. These rewards are what introduces more DEXG into the market. This approach allows DEXToken to enjoy a very predictable supply. It also allows investors to earn a substantial amount of DEXG in the form of staking rewards.
BPT LP Token
To participate in the event, you need to add DEXG to the Balancer shared pool. Once your funds are sent, you will receive a receipt in the form of an equivalent value of BPT LP tokens. These tokens are permanent records of your investment.
Private Alpha Release
According to company executives, DEXToken will unveil the DEX private alpha in the coming weeks in November. This release will allow a select few to experience the DEXToken protocol first hand.
It will also allow developers to ensure that everything functions perfectly for the public beta release scheduled a month later. The team will monitor where delays occur and make corrections to streamline the platform moving forward
A Superior Platform
The DEXToken Swap Exchange provides investors with a superior UX when compared to its predecessors. The upgraded protocol allows new users to research and execute top quality trades directly from the interface. Also, investors experience less slippage using this decentralized system.
DEXToken eliminates one of the DeFi communities’ biggest flaws. Since most DEXs don’t utilize an order book, they need some way to ensure their offerings are in line with the overall market sentiment. In the past, Oracles served very important roles. Oracles are off-chain sensors that can monitor real-world data.
What’s an Oracle?
Oracles can send and receive this data to the network nodes. In this way, they help bridge the network limitations of blockchains and allow developers to dream up even more impressive Dapps. Despite these advantages, oracles have one flaw that may prove to be too much for the market to bear, they are centralized.
It’s not wise to have any centralized systems entering data into the blockchain. When the wrong information is sent to the blockchain, it may be impossible to delete it. Faulty oracles can make a blockchain’s data unusable. Consequently, more platforms than ever want a smart alternative to the status quo.
The AMM (speculative’ Automated Market Maker) is an alternative to price monitoring oracles in the market. This protocol takes into account the pool liquidity levels to provide a reliable and secure method to determine the actual value of tokens within the ecosystem.
The DEXG is the governance token in the ecosystem. It’s the token that users hold to participate in voting. The token plays an essential role in providing liquidity for the swap exchange as well.
DEXToken Beta Launch Approaching
As DEXToken’s Beta launch nears, the firm has already kicked up its marketing. The project has a lot of attention at this moment. You can expect DEXToken to see more adoption as the LUNA staking round is only days away.