Since the birth of cryptocurrencies over a decade ago, crypto enthusiasts have tried to take advantage of a plethora of instruments to increase their return on investment. For a long time, centralized crypto exchanges remained dominant as the preferred method of trading digital currencies. Indeed, they offered simple, efficient and user-friendly platforms with great liquidity.
However, their centralized nature has deprived crypto fans, who are also big supporters of decentralized governance models, of full control over their funds and personal information. To solve this problem, the innovative crypto ecosystem offered decentralized applications and decentralized exchanges.
Unlike centralized exchanges, these crypto trading methods offer users low costs and control over their information and funds. In addition, they are automated, as they have no middlemen. Nonetheless, DEXs have a loophole that has prevented their adoption. Most decentralized exchanges do not have sufficient liquidity, and as a result, transactions take a long time to clear.
Aiming to provide crypto adopters with the best trading experience, UniDex launched as a fully decentralized platform serving the decentralized financial ecosystem. It combines the advantages of CEX and DEX into a simplified platform to meet the needs of both beginners and seasoned crypto traders. To this end, the UniDex platform taps into the best liquidity pools of other DEXs to provide its users with the best prices and lowest slippage in the market.
Grant traders simultaneous access to multiple DEXs
The platform allows its users to exchange several DEX simultaneously. It enables automatic transaction execution by combining the best prices of Uniswap, 1inch, Kyber Network, Balancer and Curve. In doing so, UniDex allows traders to trade tokens transparently by leveraging the aforementioned DEX liquidity pools, among others.
The platform allows traders to create limit orders with their ERC-20 tokens and easily set their preferred settings. A relay system determines whether orders can be executed and executed. When the defined target is reached, the limit order is executed. To achieve this, the platform liquidates the asset through several liquidity pools. Through this movement, the platform ensures that the trader receives the highest possible amount. Additionally, it minimizes the slippage a trader would encounter when using the liquidity pool of a single DEX.
Besides limit orders, UniDex offers other ways to trade cryptocurrencies. These include options trading via the Opyn protocol, margin trading via a partnership with UniMex, leveraged tokens in collaboration with XVIX, futures trading and social trading, among others. In addition, the platform enables lending and borrowing of assets via a distinctive and user-friendly dashboard.
By combining the above features, UniDex acts as an all-inclusive platform. In addition, the platform is flexible in that it supports the addition of new tools and sources of liquidity. Best of all, UniDex gives its users full control over their wallets by allowing them to monitor liquidity provider tokens and token sets.
Powered by a utility token called UNIDX
The native token of the UniDex platform is called UNIDX and has a total supply of 4 million, with 3,581,022 tokens in circulation at present. Of the 4 million UNIDX, 7.3% went to marketing, audits and various project improvements; 63.75% was used for private sale by mutual agreement; and 20.83% were stuck in the Uniswap liquidity pool. The remaining 8.13% went to token roster and roster coverage and team funding.
UNIDX functions as a utility token, allowing its holders to vote within the governance system. On top of that, coin holders can suggest updates for the platform and vote on the best decisions for the project.
To incentivize holding UNIDX, the platform pays 17% of all Ether (ETH) trading fees to holders based on the amount of UNIDX they hold. The project is also using 33% of total trading fees to redeem and burn tokens. In doing so, it protects UNIDX against inflation. UniDex also generates income through leveraged token fees and pooled liquidity deposits. The system also has a dynamic system to reward token holders with these funds. Going forward, the project aims to offer token holders reduced fees for trading on the platform.
In the hope that the UNIDX token will get more applications in the future, the project is actively job on new improvements. For example, the project aims to enter into a strategic marketing partnership with DeFiBoost, complete the redesign of its spot trading interface, add more teasers for the lending and borrowing markets, and refresh its landing page.
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