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The developments in the cryptocurrency industry have raised many concerns. They range from security and scalability, novice onboarding, trustless custody and order matching on exchanges to overall user experience, and enabling mass adoption of cryptocurrencies requires third-generation exchanges to address these issues.
Cryptocurrencies and blockchain technology are constantly evolving and changing to meet the needs of users.
Decentralized exchanges are a revolutionary and important part of this evolution, providing users with privacy, security, and sovereignty over their crypto assets.
However, any active DeFi user must experience the following disadvantages when using a DEX:
- slow transaction speed;
- insufficient quantity;
- expensive gas bills;
- low liquidity;
- poor user experience;
- Execute your trades manually.
Although experienced traders and newbies alike feel these drawbacks, newbies are mostly affected as they are forced to educate themselves about market conditions and make risky financial decisions on their own.
Soldex is a third-generation DeFi protocol built on Solana to solve these problems.
Soldex, the next generation DEX
Soldex is the fastest, easiest, and most user-friendly third-generation DEX built on Solana.
This is the next step in the evolution of DeFi as it is designed to work 24/7 in all market conditions with emotionless machine learning and neural network algorithms.
As a third-generation exchange, Soldex aims to solve the problems faced by order matching centralized exchanges and trustless custody in current decentralized exchanges.
With Soldex, users will enjoy decentralization and artificial intelligence trading.
The Soldex protocol was built to provide users with significant advantages of increased transaction speed, automated trading, and a user-friendly interface.
Increase transaction speed
One of the main pain points for DeFi users is slow transaction times.
No one wants to wait a long time for a simple transaction to complete.
Slow trading hours coupled with high gas fees discourage retail traders from using DEXs.
This is one of the reasons for building the Soldex protocol on Solana.
On Solana, the average cost of trading tokens is around $0.00001 per transaction, and the speed is around 65,000 TPS (transactions per second). Compared to Ethereum’s meager 15 TPS, Solana’s scalability is huge.
Taking advantage of the flexibility and efficiency of the Solana ecosystem, Soldex will be able to solve the problems of slow transaction times and high gas fees.
Users on Soldex can conduct fast, cheap and efficient transactions.
automated trading
With Soldex’s automated trading capabilities, users will be able to trade 24/7 in all market conditions without the danger of human error.
For many crypto users, especially newbies, trading crypto assets can often be a risky and emotional business.
The Soldex protocol aims to eliminate this risk by providing users with artificial intelligence-driven algorithms (created by other experienced traders).
With this machine learning leverage, traders can design or select their trading bots based on criteria such as volatility, risk tolerance, time frame, budget, cryptocurrency pairs, margin, and more.
The protocol’s neural network algorithms will evaluate market data, make intelligent predictions about market risk, and trade assets on behalf of traders. Additionally, it will continue to develop its capabilities based on collected data and trading experience.
The Soldex trading bot will have the following features;
- market data analysis
- market risk forecast
- trading assets
Additionally, Soldex will level the playing field between seasoned traders and newbies by providing users with educational tools.
Their educational tools will enable experienced traders to create their unique trading bots and even offer them to newbies for commissions.
Novices will also have enough educational tools to guide them through the use of the AI robot of their choice.
User friendly interface
The Soldex team intends to create a DEX optimized for quick navigation and user-friendliness; this ensures that users enjoy incentivized liquidity, increased swaps, real-time trading, and easy deposits.
It can be said that the Soldex team is experienced; and, after noting the challenges faced by other DEXs, aims to solve all of them.
Why choose Solana? What’s interesting about the Solana ecosystem?
The Soldex team understands a key factor: for a cryptocurrency to gain widespread adoption, it needs to scale at an astonishing rate, while remaining credibly neutral. Building on a blockchain that costs more than $30 for transactions and lasts minutes before completion will not achieve the required scalability.
However, Solana is the perfect blockchain for next-generation DEXs looking to scale.
With its novel proof-of-history mechanism and other technologies, its impressive speed and scalability, Solana has proven that it is fully capable of executing its mission of mass adoption.
Solana boasts 65,000 transactions per second (TPS); these numbers make Ethereum’s meager 15 TPS seem non-existent.
Furthermore, Solana’s average fee of $0.00001 per transaction is negligible compared to the high gas fees of the Ethereum blockchain.
Solana also has an excellent infrastructure based on multiple smart contracts and blockchain oracles. Leveraging this infrastructure, a protocol built on Solana will provide users with a cheap, fast and intuitive trading experience, while still keeping its platform fully decentralized.
Soldex’s Recent Partnerships
Larix – The first metaverse-based financial protocol on the Solana ecosystem. The Soldex team recently partnered with Larix.
Larix is the first and only protocol to support auto-compounding LP mortgages. The only one on Solana!
This partnership allows the two protocols to synchronize and work together.
Larix is the leading lending protocol on the Solana blockchain.
It creates a more capital-efficient risk management pool, ensuring that various collateral types, stablecoins, NFTs, crypto tokens and synthetic assets can be used safely and securely.
Laris utilizes a dynamic interest rate model.
Larix is the first lending project on Solana that has been audited and reviewed by SlowMist, a well-known and reputable smart contract auditor.
It is the first lending protocol with real-time mining capabilities. This is also the first open source lending protocol on Solana.
Through this cooperation between Soldex and Larix, Soldex will gain more attention and wider market recognition.
What to watch out for:
The Soldex community will be hosting an AMA on January 11th at 12pm CET. More details on this partnership will be revealed during this AMA.
For more information on Soldex, please visit:
https://soldex.ai/ (website)
https://t.me/Soldexai (telegraph)
https://twitter.com/soldexai (Twitter)
https://www.facebook.com/Soldex-102189735463890/ (Facebook)
https://medium.com/@soldex (Moderate)
To learn more about the project, visit the website and follow the team on social media.
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Image Source: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for reference only. It is not a direct offer or invitation to offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is 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 herein.
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