Zeedex.io Project Review: Decentralized and Non-Custodial Limit Orders
ZeeDex is a decentralized exchange that boasts deposit-less and non-custodial limit orders, while simultaneously reducing trading fees on both the Ethereum and Binance Smart Chain (BSC) networks.
ZeeDex is a decentralized exchange (DEX) that sets itself apart from other exchanges using off-chain match making and on-chain settlement. ZeeDex boasts deposit-less and non-custodial limit orders, supporting both the Ethereum and Binance Smart Chain (BSC) networks. ZeeDex aims to be the fastest, cheapest, and most transparent exchange platform in the crypto industry.
For those who wish to take a peek heres an informative video overviewing the ZeeDex platform.
DEX
Trading on ZeeDex gives you some superior advantages; first, the user interface (UI) looks very friendly as the charts and order books are set up just like on a centralized exchange (CEX). ZeeDex also offers ZERO Gas Fees and limit orders for your trades on the BSC and meager fees on the Ethereum Network. Like any other DEX, you will need some $BNB on BSC or $ETH on the Ethereum Network to sign transactions with your wallet, allowing ZeeDex to spend your funds.
To begin trading using limit orders, select the desired market from the top left side on the page (1), punch in the expected price and the amount that you want to buy (2), hit the buy button (3), now sit back, relax, and wait for your bid to be filled.
Due to the platforms off-chain settlements limit orders are placed on the user end. This means users funds will always remain in their wallet versus using traditional CEX’s which take custody of tokens.
Cross-Chain
Another convenient function is the ZeeDex bridge function, enabling users to convert $ZDEX (ERC-20) tokens into $ZDEXb (BEP-20) tokens and vice versa. The minimum amount for converting is set at 250 $ZDEX(b), and tokens will be bridged (converted) at a 1:1 ratio.
As more people gain awareness of the BSCs’ benefits, cross-chain functions will serve a crucial role of heavily reducing users gas fees and tx times. Specifically, users will bridge their tokens to a chain such as the BSC to avoid large trading fees, especially during high congestion periods on the Ethereum Network.
Listing Tokens
ZeeDex has two different exchange sites for each network (BSC & ETH). There are currently 25 trading pairs for the Ethereum Network and 39 trading pairs for the BSC. The trading pairs are denominated in either $USDT $WETH $ZDEX for Ethereum or $USDT $WBNB $ZDEX for the BSC networks.For the Zeedex Mainnet on BSC, any BEP-20 Token can apply for listing.
The ZeeDex team has outlined these basic requirements for listing BSC tokens:
Basic Requirements for Zeedex BSC Mainnet are as follows -
1. Must be a Bep20 Token (Binance Smart Chain)
2. Must have a Verified Contract Address
3. Must be a Utility Token, we do not list security tokens.
We will then do our thorough research, once approved and passed all requirements, it will get listed. We cannot guarantee all projects to be the best ones, but at least all of us will be safer as compared to Uniswap/PancakeSwap.
ZDEX Token
The $ZDEX token grants users a discount on trades when used to pay fees; the more $ZDEX you hold, the more discount you will receive. Users can receive up to a 40% discount on trading fees when holding over 40,000 tokens. As you can see on the table, a good portion of the total 10 million tokens is reserved for staking rewards, trade competitions, and other incentives totaling 35% of the max supply. Another 45% is used by the team for marketing growth and paying other expenses. Team tokens are time-locked over four years, releasing ¼ of the allocation per year.
At the time of writing, there is a circulating supply of 3,161,300 $ZDEX tokens. The $ZDEX tokens can be exchanged at Bilaxy, UniSwap, Probit and ZeeDex
Future Releases
--IDEOs
--Staking
--Lend-Borrow + Margin Trade
The ZeeDex team has multiple developments planned out for the first half of 2021. They plan to have “Staking Events,” Trading Competitions, and IDO’s (Initial DEX Offerings).
ZeeDex will also develop their De-Fi product by letting other projects use the ZeeDex infrastructure to launch their De-Fi protocols. There are also plans to integrate onto additional networks to broaden ZeeDexs’ userbase further. The team aims to support a new block-chain in 2021, “Tron Chain.” 1. On top of this, ZeeDex has expressed that integrations for both futures trading and margin trading is planned to launch in late 2021 or beginning of 2022.
Concluding Thoughts
ZeeDex boasts multiple features, whether it is a nice-looking and easy to use UI, the low or NO fees on trades, the cross-chain bridge, or the innovative developments. These features give the platform some edge over competing AMM / DEX’s in the space. The staking and trading competitions could be excellent incentives for users to try out the services over at ZeeDex. I cant wait to see what the future will bring for ZeeDex as the bull market continues onward.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
None of our articles are advice at the end of the day, and all financial decisions should be made on your behalf or from a professional financial advisor.
For more information, or if you wish to stay up to date on the project, check out their media and social media pages.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not 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 in the press release.
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Related News
Security on Cryptocurrency Exchanges: Ensuring Asset Protection in the World of Cryptocurrencies
From two-factor authentication to cold storage, discover the essential security measures for protecting your assets on cryptocurrency exchanges.
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article.
Cryptocurrency exchanges play a crucial role in the world of digital assets, providing a platform for the exchange of cryptocurrencies and tokens. However, along with the growing popularity of cryptocurrencies, the security risk on exchanges is also increasing. Hacker penetrations, fraudulent schemes, and cybersecurity threats are becoming increasingly serious issues. Various methods and security measures are applied to protect user assets and ensure the security of trading on crypto exchanges.
1. Two-Factor Authentication (2FA)
Two-factor authentication is one of the primary security measures on cryptocurrency exchanges. It requires not only entering a password but also additional confirmation, such as through a mobile device or email. This additional layer of protection significantly enhances the security of a user's account, as even if a malicious actor manages to obtain the password, they still cannot access the account without the second factor of authentication.
2. Cold Storage
Cold storage involves storing cryptocurrency assets offline, disconnected from the internet. This makes them inaccessible to hackers since physical presence and access to the storage are required to access the assets. Cold storage is one of the most reliable methods of storing cryptocurrencies and is widely used by exchanges to protect large sums.
3. Identity Verification and KYC (Know Your Customer)
Many cryptocurrency exchanges require users to undergo identity verification and KYC procedures to open an account and conduct trading operations. This allows the exchange to more accurately identify its customers and prevent fraud, as well as comply with regulatory requirements regarding anti-money laundering and counter-terrorism financing.
4. Multilayer Security System
Cryptocurrency exchanges often employ multilayer security systems, including network protection, transaction monitoring, intrusion detection, and automatic shutdown of suspicious activities. This helps to promptly respond to potential security threats and prevent possible attacks.
5. Secure Password Storage Methods
Cryptocurrency exchanges should provide secure password storage methods for users, such as hashing and salting, to protect them from unauthorized access. This helps prevent password leaks and account breaches.
6. Regular Audits and Penetration Testing
Regular security audits and penetration testing are necessary to assess the level of exchange security and identify vulnerabilities. This helps prevent potential attacks and improve overall security.
7. User Security Training
Cryptocurrency exchanges should provide educational materials and user guides on security basics to help users independently protect their accounts and assets. This includes recommendations for creating strong passwords, using authentication apps, and dealing with phishing attacks.
8. Geographic Server Distribution and Data Backup
Cryptocurrency exchanges can use geographically distributed servers and data backup systems to protect against unforeseen failures or attacks, ensuring continuous availability and preservation of user assets.
Conclusion
Security on cryptocurrency exchanges is an essential aspect of using digital assets. Security measures such as two-factor authentication, cold storage, identity verification, and others play a crucial role in protecting user assets and preventing cybersecurity threats. The development and improvement of these methods are key aspects of ensuring security on cryptocurrency exchanges in the future.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not 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 in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not 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 in the press release.
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