Digital payment platform PlasmaPay has announced the launch of its decentralised exchange, aptly named PlasmaSwap, according to a press release shared with Coin Rivet.
The new DEX provides secure and liquid trading with a user interface that is designed for professional traders.
PlasmaSwap aims to fill a gap in the institutional trading market, with a fully decentralised implementation of limit orders, as well as removing the reliance on centralised order books.
Limit orders smart contracts will be interacting with Ethereum 2.0, and traders will be able to trade on swap without an ETH balance.
Ilia Maksimenka, CEO of PlasmaPay said: “Existing decentralised exchanges lack the streamlined user experience and intuitive ease of use of their centralised counterparts. They also tend to lack liquidity for most trading pairs.
PlasmaPay X CasperLab
We are looking at our partnership with @meetCasperLabs
The partnership comes at an exciting period for both, with #PlasmaFinance set to launch the PlasmaSwap #DEX and Casper Labs close to its #mainnet launch.
Read more here 👉https://t.co/qlPRxnf0hP
— 0xPlasma Labs: DeFi & NFT Metaverse 🦇 🔊 (@0xPlasma) February 16, 2021
“The launch of PlasmaSwap is an evolutionary leap towards making this exciting technology a reality for professional traders and institutions looking to enter the DeFi space.
“In this constant flux, where new and improved technologies are being introduced and accepted rapidly, the advancements brought by PlasmaSwap decentralised exchange will accelerate the process of unifying the old and new financial paradigm.”
The platform will also feature a Flash Rebalancer tool that will balance liquidity for one trading pair in one transaction, giving traders the opportunity to benefit from arbitrage.
Arguably the most unique feature of the upcoming DEX is the integration with a fiat on/off ramp that will allow users to efficiently get in and out of digital asset exposure.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.