DeFi

Decentralized Exchange Dexalot Launches First Hybrid DeFi Subnet On Avalanche

Key Points:

Dexalot has begun operating as a subnet on Layer 1 protocol Avalanche.
A crucial component of its dual-chain application is the Subnet. Users trade on the Subnet after making deposits and withdrawals using the Dexalot application on the Avalanche C-Chain.
As well as launching its long-awaited Subnet, the DEX has confirmed that it will commence a new Incentive Program on the same date.

A recent development in the development of decentralized trading protocols is the deployment of Layer 1 protocol Avalanche’s subnet for the decentralized cryptocurrency exchange (DEX) Dexalot.

According to a press release, Dexalot customers will be able to trade on the Subnet after depositing and withdrawing funds via the company’s app on the Avalanche C-chain.

Without sacrificing decentralization and transparency, the Dexalot Subnet seeks to imitate the user experience of a CEX. Using the Avalanche Fuji test network, its team has spent months developing and perfecting its application to provide an on-chain central limit order book (CLOB) with minimal transaction fees and support for several spot trading pairs.

A crucial component of the dual-chain application is the Subnet. According to the company, cross-chain communication protocols will be used for general message transfer between the Mainnet and Subnet. This might lessen slippage in transaction execution and provide traders confidence without allowing them to give up control of their assets.

The co-founder and CTO, Cengiz Dincoglu, stated:

“By utilizing both the host chain and exchange chain, we have optimized Dexalot for speed, safety and above all, experience. We are looking forward to introducing DeFi traders to the Subnet on the Avalanche network, and to further differentiating our platform from other centralized and decentralized exchanges in the market.”

The DEX has announced that it will begin a new Incentive Program on the same date that it will launch its eagerly anticipated Subnet. Over the upcoming months, the Dexalot Incentive Program (DIP) will distribute up to 4.8 million ALOT tokens.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.