DMEX Integrates xDAI for Cheap Decentralized Perpetual Contracts With up to 100x Leverage and No KYC

DMEX Integrates xDAI for Cheap Decentralized Perpetual Contracts With up to 100x Leverage and No KYC

PRESS RELEASE. In response to rising gas prices during the last weeks, DMEX has moved its trade processing to xDAI sidechain that allows for much cheaper transaction recording. Customer funds are still stored on an Ethereum smart contract, the trade recording, however, is now performed on xDAI.

This change allows users to place orders as small as 100$ which was impossible until now, with minimum order requirements growing up to 200k$ during gas price spikes on Ethereum.

The new structure allows for a flat minimum order value of 100$ independent of Ethereum gas prices.

How does it work?

The custody smart-contract remains on the Ethereum blockchain, therefore the same margin currencies are used for trading (ETH, BTC or DAI), while the smart contract responsible for trade processing and recording is hosted on the xDAI sidechain. Whenever a user deposits funds to DMEX, the custody contract (on Ethereum) communicates with the trading contract (on xDAI) through a decentralized bridge and communicates to the trading contract that the user has performed a deposit.

The trader then commences trading on the xDAI contract with cheap gas fees and low minimum orders. Whenever the trader wishes to withdraw funds from DMEX, a request is sent from the xDAI trading contract to the Ethereum custody contract to release funds to the user wallet.

DMEX offers the best decentralized user experience for perpetual futures contracts with up to 100x leverage with lightning-fast trade execution, instant withdrawals, and no KYC checks. Check out the DEMO version to see it with your own eyes.

Media Contact: admin@dmex.app

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s MINING | 30 mins ago Thai Financial Watchdog Asks Local Crypto Exchange to Fix Issues After Three Massive Outages EXCHANGES | 3 hours ago Tags in this story 100X Leverage, contracts, DAI, Ethereum fees, Futures, gas prices, No KYC/AML, xDAI

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