Definex, founded with the aim of creating an open financial system for everyone, is a leading DeFi ecosystem offering the cryptocurrency trading services based on the Automated Market Maker (AMM) protocol.
What Is DeFi?
DeFi (Decentralized Finance), is a form of financial applications built on the blockchain platform. However, DeFi is not creating a new financial system, but rather democratizing the existing traditional financial system and making it more equitable, using open protocols combined with data to enhance the transparency & efficiency of the system. The non-custodial feature helps DeFi create open finance, which is the foundation for a transparent, open-source, authorization-free financial services ecosystem. Users are finally in full control of their assets while interacting with decentralized applications (DApps) peer-to-peer (P2P) ecosystem.
What is Definex and how is it related to Defi?
Defines facilitates traders to swap the cryptocurrencies directly without the need for counterparties, similar to Uniswap or Mooniswap. The AMM provides guaranteed on-chain liquidity with predictable pricing set by constant product curves. The AMM is also designed to be market neutral and fully collateralized. On top of that, Definex is supported by Y2Labs – a group of blockchain developers with experienced advisors from various popular blockchain platforms. This decentralized exchange consists of DFSwap for Ethereum Network & TSwap for Tron Network.
Recently, Definex team confirmed the launch of their much awaited native token, DSWAP.
A representative from Definex says, “DSWAP is the official core asset of Definex based on Ethereum, 6.9 million DSWAP will be generated and made available. DSWAP token is capable of staking and intelligent utility functions.”
54% (3.726 Million tokens) of a total of 6.9 million DSWAP will be sold through 4 phases from October 2020 to the end of January 2021.
The token sale process will be divided into four phases:
- Phase 1: 552K tokens will be sold. 10% of tokens will be burned after the end of Phase 1.
- Phase 2: 759K tokens will be sold. 10% of tokens will be burned after the second phase ends.
- Phase 3: 1035M million tokens will be sold. 10% of the tokens will be burned after the end of Phase 3.
- Phase 4: 1380M tokens will be sold. 10% of tokens will be burned after the end of Phase 4
2.27 Million DSWAP Burn Schedule
Limiting the Already Limited Supply: A total of around 2.27 million tokens will burn permanently within 10 rounds. This will allow DSWAP to continuously decrease.
- Cryptocurrency investment is subject to high volatility & risk. Be really cautious with your investment!
- Definex, or the is not responsible for any loss from price fluctuations when you buy, sell, hold and use cryptocurrencies.
Stay updated on Definex’s social media for more updates:
Telegram Group: https://t.me/mydefinexgroup
Telegram Channel: https://t.me/mydefinexchannel
(Syndicated press content)
Source: Yahoo Finance