Eight features demonstrated by developers

Vladislav Sopov

DeXFi, a novel decentralized finance ecosystem on XRP Ledger, invites XRPL enthusiasts to access modern DeFi features

Continue reading U.TODAY

Google News

Contents

• DeXFi introduces DEX trading to the XRPL community
• Liquidity pools, P2P lending and more coming soon

The team at DeXFi, a novel on-chain trading and lending ecosystem on XRP Ledger, has shared a demo of its operations. Its instruments allow asset holders on XRPL to benefit from non-custodial trading and on-click cross-asset swaps.

DeXFi introduces DEX trading to the XRPL community

DeXFi, a platform for non-custodial DeFi products based on XRP Ledger, has released a demo video to showcase its existing and upcoming features. Through DeXFi, users can exchange various XRPL-based assets such as XRP, Sologenic (SOLO), CasinoCoin (CSC), and various synthetic coins in a non-custodial manner.

With its trading module, XRPL enthusiasts can enjoy a CEX-level UX/UI and experiment with different types of limit and market orders. DeXFi’s interface is similar to large centralized exchanges with an order book, price charts, trading history, etc.

The “Swap” module allows visitors to convert XRPL-based assets with a single click. Similar to Uniswap (UNI) and PancakeSwap (CAKE), DeXFi allows users to set the estimated price deviation before initiating a trade.

In the “Strategy” module, traders can try out automated order placement tools. With a backtest strategy, users can automate their trading processes.

As previously reported by U.Today, another DEX on XRP Ledger, Magnetic (MAG), is facing backlash over an alleged memo spam attack that slowed down XRP transfers.

Liquidity pools, P2P lending and more coming soon

In addition to existing trading and swapping features, DeXFi will release a peer-to-peer lending protocol, liquidity pools for various XRPL-based assets and fiat-pegged synthetic securities, and a futures trading mechanism.

XRPL enthusiasts asked the team about the possibility of adding advanced trading features such as sophisticated order types.

2023 could be a pivotal year for XRPL-based smart contracts and decentralized applications. The Hooks change has passed a third-party security audit, while the Evernode L2 platform has reached key milestones with the new XRP+ asset.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers