The popular one avalanche-hosted decentralized exchange dexalot says its official subnet is now ready for prime time, increasing the speed and security of its platform and allowing users to have a more positive trading experience. At the same time, it announced a new incentive program to encourage more traders to take a look at its unique exchange platform.
Dexalot is a new type of DEX that aims to bring the experience of traditional, centralized trading platforms to the decentralized world. To use it, all that is required is to link a cryptocurrency wallet like MetaMask. There is no need to deposit funds, no middleman, transactions are completed quickly and there is absolutely no risk of users losing their funds as their assets remain under their control at all times.
How did Dexalot achieve this? All of this is thanks to the innovative use of a traditional central limit order book that matches users’ orders to ensure optimal price trading, combined with the lightning-fast transaction speeds and low costs of the Avalanche blockchain.
Unlike traditional automated market maker based DEXs on Avalanche that rely on pools of liquidity and only allow users to trade at the current market price, Dexalot allows traders to enter orders at the specific price they wish to trade. This means there is no risk of executions slipping or being bot-led on a crucial trade.
Dexalot does this in a fully decentralized manner and is not dependent on third party services, meaning users remain in full control of their wallets. In this way, Dexalot is truly a no-custodial exchange.
One of the unique advantages besides using CLOB technology is the Intel SGX powered Avalanche Digital Asset Bridge, which allows users to bridge Ethereum-based tokens on Dexalot. True to its decentralized nature, it is also fully democratic with community-based governance.
The DEX runs on the Avalanche blockchain to take advantage of the extremely high throughput of this network, which ensures transactions are completed in seconds and with low fees. Dexalot says it chose Avalanche because previous attempts to bring CLOB-like functionality to DEXs failed because they were built on poor infrastructure that limited adoption, resulting in slow transactions, high fees and no executions orders led.
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Dexalot said its Avalanche Subnet will make its platform even faster without compromising decentralization or transparency. Avalanche subnets are independent networks, similar to Polkadot’s parachains, designed to host the transactions of certain decentralized applications. By doing so, they accelerate transaction speeds even faster while relieving pressure on Avalanche’s main C-Chain.
With the launch of the subnet, Dexalot users will continue to deposit and withdraw their assets through the main C-Chain. However, trading on the platform now takes place on the subnet, with communications between the two networks being handled using “high-end cross-chain communication protocols.” According to Dexalot CTO Cengiz Dincoglu, this is all part of Dexalot’s promise to become a dual-chain application that optimizes its platform for speed, transparency and incredible user experiences.
“We look forward to introducing DeFi traders to the subnet on the Avalanche network and further differentiating our platform from other centralized and decentralized exchanges in the market,” said Dincoglu.
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In addition to all of the above promises, with the new Dexalot incentive program launching today, traders have another strong reason to try Dexalot. As part of this program, Dexalot has promised to distribute 4.8 million $ALOT tokens to its user base. The rewards, which total $1.58 million at today’s rate, are available to all users who link a wallet to Dexalot and $ALOT-, $AXAX-, $BTC-, $ETH-, $USDC – or deposit $USDT tokens and make at least one trade on its platform.
Dexalot also hinted at plans to launch its exchange on an additional host blockchain, saying that its subnet’s unique design provides a “foundation for multi-ecosystem interoperability.”
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