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MIAMI, USA, August 5, 2024 – Today, DexToro is proud to announce a major milestone: transitioning to a full-fledged blockchain protocol.
Founded in June 2023 by Nick Nechanicky, DexToro is on a mission to democratize access to financial opportunities. The DexToro exchange is known for offering perpetual futures trading on a variety of 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 comprehensive suite of products for permissionless derivatives trading. This transition is expected to be completed in just a few months after the seed round closes.
Comprehensive decentralized derivatives protocol
The decentralized derivatives market has grown significantly in recent years, with more and more traders seeking the benefits of decentralization, such as increased security, transparency, and accessibility. In fact, the cryptocurrency derivatives market alone is worth over $2.95 trillion (as of March 2023).
According to the team, platforms serving this burgeoning market are lacking in user experience, liquidity, and limited asset support, and traders can face issues with slippage, high fees, and the inability to trade their favorite assets on decentralized exchanges (DEXs).
DexToro believes that everyone deserves equal access to financial opportunities. That’s why evolving to a comprehensive decentralized derivatives protocol is critical to addressing the limitations of existing platforms and creating a level playing field for all traders.
DexToro's New Product Line
DexToro’s groundbreaking new product line is designed to revolutionize the decentralized derivatives trading environment. Let’s take a quick look at what users can expect.
On-chain self-custodial derivatives exchange
At the heart of the DexToro protocol is the Exchange, a state-of-the-art on-chain self-custodial derivatives exchange that leverages the power of Ethereum smart contracts. Users have complete control over their assets, ensuring unparalleled levels of security and transparency.
DexToro Exchange has processed over $120 million in trading volume and collected over $70,000 in trading fees from over 300 traders. These numbers are extremely low compared to centralized exchange counterparties and there is a lot of room for growth as blockchain technology continues to evolve at a rapid pace.
Collateral-backed dUSD stablecoin (coming soon)
dUSD is a stablecoin that redefines stability in the volatile cryptocurrency world. Decentralized and backed by strong collateral, dUSD is soft-pegged to the US dollar, providing traders with a reliable base currency for derivatives trading. With dUSD, users can focus on their trading strategies without worrying about the price fluctuations of their base currency.
Liquidity of non-licensed derivatives (coming soon)
The upcoming Liquidity product is a game changer for permissionless derivatives trading. Supporting perpetual futures, options, and parimutual markets, traders will be able to explore a wide range of financial opportunities across multiple EVM chains.
DexToro’s liquidity products are available on multiple EVM chains, allowing users to tap into deep liquidity pools and seamlessly execute trades on their preferred blockchain.
DexToro Smart Wallet
The DexToro Smart Wallet is an all-in-one on-chain margin engine that provides traders with decentralized and self-custodial derivatives trading capabilities.
Self-hosted cryptocurrency wallet
DexToro is taking wallet functionality to the next level with its upcoming self-hosted, non-custodial cryptocurrency wallet, which provides users with a secure and user-friendly way to manage their digital assets while maintaining complete control over their funds.
Enterprise: DexToro's Power (Coming soon)
DexToro can be a powerful force for institutional clients and enterprises. With the upcoming Enterprise solution, which includes liquidity provisioning and white label offerings, enterprises can leverage the full potential of DexToro’s cutting-edge infrastructure, liquidity, and expertise.
Role of DTORO token
The DTORO token is the fuel that powers the DexToro protocol. As a utility token, it provides several functions within the ecosystem, including:
1. Staking sharing and trading rewards for potential rewards
One of the key features of the DTORO token is that it allows users to stake their tokens and potentially earn a portion of the protocol rewards. By locking their DTORO tokens, users can benefit from the growth of the platform.
In addition to reward sharing, staked DTORO tokens further incentivize active participation in the ecosystem by granting access to exclusive trading rewards. The goal is to foster a strong community of token holders with a vested interest in the long-term success of DexToro.
2. Governance rights of token holders
DexToro is committed to building a truly decentralized platform, and the DTORO token is critical 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 inflation token issuance, the total supply of DTORO in the market will be 55,527,792.
DexToro’s Protocol Transition Opens the Way for On-Chain Derivatives Trading
DexToro’s transition from a peer-to-contract DEX to a full-fledged protocol is a significant milestone in the platform’s journey. With a suite of advanced products including Wallet, Liquidity, and the dUSD stablecoin, DexToro is now better positioned to drive widespread adoption of decentralized on-chain derivatives trading.
Users can participate in the future of decentralized finance by joining the DexToro community today. Whether you are a trader, liquidity provider, or governance participant, you have the opportunity to participate and benefit from the growth and success of the protocol.
The DTORO token public sale will end on October 1, 2024.
DexToro’s $5 million seed round has already generated significant buzz across the crypto world. Half of the seed round is being raised via DTORO tokens, which are available to the public and will close on October 1, 2024. Investors can participate by going to tokensale.dextoro.com. DTORO token holders will start receiving a portion of the exchange’s trading fees starting in Q4 of this year, founder and CEO Nick Nechanicky said.
https://youtu.be/ADIdarXaO4g
About DexToro
DexToro's mission is to democratize access to financial opportunity.
Users can join the discussion on Discord or follow us on Twitter.
DexToro's Seed Round Public Token Sale: tokensale.dextoro.com
To learn more: DexToro.com
Media Contact
Name: Nick Nekaniki
Company: DexToro Trading Inc.
Email: (email protected)
Disclaimer: This is a sponsored press release and is provided for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment or financial advice.
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