Solana-built Decentralized Exchange, Soldex, Partners With Larix

Soldex, a Solana-built decentralized exchange, partners with Larix.
This partnership allows the two protocols to sync and work together.
An AMA will be hosted in the Soldex community on 11th January, 12 pm CET. to reveal more details of the partnership.

Many people are concerned about the cryptocurrency industry’s expansion as a result of security and scalability, newcomer onboarding, trustless custody and order matching on exchanges, and the overall user experience.

Following this, third-generational exchanges that could eliminate these concerns are required.

Due to the cryptocurrency space and blockchain technology are always improving to meet the needs of consumers, Decentralized exchanges (DEX) became game-changing and crucial components of this transition, providing consumers with privacy, security, and control over their crypto assets.

While using a DEX comes with lots of incredible features never seen in CEXs, any active DeFi user must have encountered the following downsides; slow transaction speed, insufficient volumes, expensive gas fees, low liquidity; poor user experience, and users manually executing trades.

Although both experienced traders and rookies are harmed by these disadvantages, newbies are disproportionately disadvantaged because they are obliged to educate themselves on market circumstances and make dangerous financial judgments on their own.

Thankfully, a third-generation DeFi protocol based on Solana is designed to address these concerns — Soldex.

A New Generation of DEX, Soldex

Soldex is a third-generation DEX built on Solana that is the fastest, easiest, and most user-friendly. It is the next phase in the evolution of DeFi, as it attempts to work in all market situations, 24 hours a day, 7 days a week, using emotionless machine-learning and neural network algorithms.

Soldex intends to address the challenges that current decentralized exchanges have with order-matching centralized exchanges and trustless custody. This means users of Soldex would benefit from both decentralization and AI trading.

The Soldex protocol is being developed to provide consumers with important benefits like faster transaction times, automated trading, and a simple user interface.

Improved Transaction Speed

Slow transaction times are one of the most common complaints among DeFi users. Nobody wants to wait for a simple transaction to be completed for a lengthy time. As a result, retail traders are discouraged from using DEXs because of the long transaction times and high gas costs.

Since the average cost of trading tokens on Solana is roughly $0.00001 per transaction, with a transaction speed of around 65,000 TPS (transactions per second), Soldex would be able to tackle the concerns of long transaction times and expensive gas fees by using the flexibility and efficiency of the Solana ecosystem.

Automated Trading

For many crypto users, especially newcomers, trading crypto assets is a dangerous and emotional business. Users of Soldex’s automatic trading function would be able to trade 24/7 under any market situation without the risk of human error.

By providing users with AI-powered algorithms, the Soldex protocol promises to reduce this danger which was created by other experienced traders. Traders will be able to construct or choose their trading bots based on their specific criteria, such as volatility, risk tolerance, time frame, budget, crypto pairs, margin, and so on, using this machine learning leverage.

The neural network algorithm in the protocol will analyze market data, make educated predictions about market risks, and trade assets on behalf of traders. It will also continue to improve its capabilities depending on the information gathered and trade experience gained.

The following functionality will be included in Soldex trading bots:

market data analysis
market risk prediction
trading assets

Furthermore, by providing teaching aids to users, Soldex would level the playing field between experienced traders and newcomers. Their teaching tools will allow experienced traders to construct their own trading bots, which they can then sell to newcomers for a fee.

Newbies will also have access to sufficient educational resources to assist them in utilizing their AI-powered bot of choice.

User-friendly Interface

The Soldex team designed a DEX that is user-friendly and easy to navigate. Users will benefit from incentivized liquidity, increased swaps, real-time transactions, and easy deposits as a result of this.

The Soldex team has a diverse set of skills and, having observed the issues faced by other DEXs, intends to address them all.

What is the significance of Solana? What makes the Solana ecology so intriguing?

The Soldex team recognizes that factor for crypto to gain widespread adoption, it must scale at a rapid rate while remaining credibly neutral. Building on a blockchain where transactions cost more than $30 and take several minutes to complete will not provide the scalability required.

However, Solana is the ideal blockchain for scaling next-generation DEXs. Solana has proven with results that it is more than capable of carrying out its mission of widespread adoption, thanks to its revolutionary proof of history mechanism and other technologies responsible for its amazing speed and scalability.

Solana boasts 65,000 transactions per second (TPS), making Ethereum’s meager 15 TPS seem insignificant. In addition, Solana’s average transaction price of $0.00001 is insignificant when compared to Ethereum’s exorbitant gas expenses. Solana also has a strong infrastructure built on a foundation of smart contracts and blockchain oracles.

Soldex and Larix Partnership

The Soldex team recently partnered with Larix and this partnership allows the two protocols to sync and work together. With this cooperation between Soldex and Larix, Soldex will gain an increase in attention and a wilder recognition in the market.

To add on, Larix is a leading borrowing and lending protocol on Solana that has been audited and reviewed by SlowMist — the well-known and reputable smart contract auditor. It is the first lending protocol with live mining functionality. It’s also the first lending protocol Open-Sourced on Solana.

On the 11th of January, at 12 pm CET, there will be an AMA in the Soldex community. More information about this cooperation will be provided during this AMA.

Visit Soldex’s website for further information:

Website | Twitter | Medium | Facebook | Telegram

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Text source: News – CoinQuora – Latest Cryptocurrency and Block

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