Over the last decade, cryptocurrency projects and crypto firms have grown with the core concept of decentralization. However, the truth remains that a majority of the crypto trading platforms are still completely centralized.
We have seen in the past how centralized exchanges are vulnerable to hacks. Investors have lost millions of dollars to external thefts and left at the mercy of the security offered by exchanges.
Well, the Dextrust decentralized exchange is here to change the game forever! This is a community-driven exchange specifically built for trading ERC-20 tokens and bridging the gaps between crypto-assets of different blockchains.
Dextrust – A community-Driven Platform
What makes Dextrust special is that it is a completely community-driven platform. Now, many of the decentralized exchanges claim to be completely decentralized! However, all the listing and developments of the platform are controlled by a centralized body dubbed IDEX.
Here is where Dextrust differs from the rest! In the case of Dextrust, the community and asset holders decide all the listings and future developments. This makes Dextrust the only decentralized exchange where the absolute power, governance and administration lies in the hands of the community and the users.
Thus, unlike other decentralized exchanges that offer users to hold their private keys and control their assets, Dextrust goes further and beyond by decentralizing even the governance and administrative aspects of the exchange.
Dextrust Interoperability, Dextrust Token And Staking Features
One of the major bottlenecks for blockchain users today is the lack of scalability and cross-over or compatibility with other blockchain platforms, specially Bitcoin and Ethereum, the two largest traded assets in the crypto space.
The thing with the Dextrust ecosystem is that it is entirely interoperable and has got an asset of its own pegged to the value of Bitcoin in correlation with the existing value of Ethereum. The ultimate aim of Dextrust is to bridge the gaps among the assets of different blockchain platforms and offer easy and seamless interaction among chains.
The Dextrust exchange has got its native cryptocurrency dubbed the Dextrust token (DETS) that works as a fuel powering the entire platform. The use of Dextrust token is basically like a governance token for Decentralized Autonomous Organisation (DAO).
The Dextrust token is like a ticket for the community and token holders to upvote proposals, actions and all other decisions made on the platform. As said, it serves as a field for the Dextrust ecosystem to offer an easy exchange with other ERC20 assets. By doing this, it aims to provide back power to the Dextrust community.
Interestingly, the Dextrust platform has also enabled staking functionality that offers support for blockchains. It is the platform’s way of giving back to the community and rewarding the token holders every month. The complete staking guide for DETS is here.
The minimum staking amount has been kept at 100 DETS. The Annual Percentage Rate (APR) with DETS tokens is:
- Year 1- 50 % 5,000,000
- Year 2- 30% 3,000,000
- Year 3–20% 2,000,000
The total supply of DETS is capped at 50 million. Of this, 25 Million will be available during Pre-Sale.
Roadmap Ahead
During the ongoing Q3 2020, the platform creators will be conducting a presale of DETS and plan to list the Dextrust token on the Uniswap platform along with other exchange listings.
In Q4 2020, the plan is to launch DAO along with an integrated staking dashboard to the platform. We can see the first launch of the Dextrust Beta version in a lesser than 4 weeks from the moment of publishing this article.
For now, hold your horses and get ready to experience a major transition to the world of completely decentralized exchanges.
Post source: Dextrust – A Community-Driven & Interoperable Decentralized Exchange (DEX) Offering Staking Feature
More Bitcoin News and Cryptocurrency News on TheBitcoinNews.com
