The Verox DEX is an orderbook based decentralized exchange, built on the Polygon Layer-2 network.
What is a layer-2 network, and why is it important for a DEX?
Today, cryptocurrencies suffer from high transaction fees. Layer-2 technologies solve the transaction fee problem by moving transactions to a layer that sits above the blockchain.
This allows for instant transactions, more throughput, lower fees, and scaling to global mass adoption. Layer-2 technologies are currently the industry standard protocol for scaling cryptocurrency to mass adoption.
Not your keys, not your coins
The Verox DEX is a non-custodial decentralized exchange. This means users retain control of all times over their private keys. This prevents users from losing funds due to exchange hacks.
Order-book based trading
The two main types of exchanges are orderbook and swap. Verox DEX is order-book based. This allows users to make complex order-types and post their order to the order book.
An example of a swap-based exchange is Uniswap. With swap-based exchanges, users select which coins they want to swap, and the software determines the price. This limits the amount of control and flexibility users have over their trading.
With orderbook based exchanges, users can select the price they are willing to pay, and the type of order they want to submit to the market.
The types of orders on Verox DEX are:
Stop Limit Order
Stop Loss Limit Order
Take Profit Limit Order
Close Limit Order
Cancel and Modify Order
The Verox DEX is a one-stop-shop for trading. All assets across various markets will be available for trading. No longer will traders have to utilize multiple exchanges to get their orders filled.
Verox DEX will list assets such as Cryptocurrencies, Commodities, Stocks, and Derivatives.
Verox AI Integration
Users of the Verox DEX can integrate with the VeroxAI App. This will allows traders to run the VeroxAI automated trading bot directly on the exchange.
Automated Market Maker & Liquidity Provider
Liquidity is the cornerstone of every healthy market. Since the Verox DEX will list synthetic assets across cryptocurrencies, stocks, commodities, and derivatives, there is a need for adequate liquidity on the platform.
To achieve this, the Verox team is developing a state-of-the-art automated market maker to run on the DEX. Users can provide liquidity and receive a portion of the fee's as a reward.