From multi-chain and cross-chain to Layer 2: yfx.com’s ambition
At present, the number of users in the DEX field continues to expand, and the number of competitors in the DEX field is also increasing. Under the impact of DEX, the trading track is undergoing a transformation.
In 2020, the power of defi which can replace centralized financial services with smart contracts has been showned. For yfx.com, the daily trading volume exceeded 10,000 BTC, creating a trading volume of US$1.44 billion in 13 days. This is the latest achievement of the decentralized exchange perpetual contract trading platform yfx.com since March 2. yfx.com is a decentralized perpetual contract platform that supports cross-chain, providing perpetual contract transactions up to 100 times for BTC, ETH and other assets.
The rise of DEX is impacting the centralized trading market. Promoted by speculators, the cryptocurrency derivatives market has grown rapidly, which means the contarct which aimed to disrupt CeFi derivatives may reach huge trading volumes in the next few years. It is also a competition between DEX and CEX.Developing your own products well and allowing users to enjoy CEX-like trading experience is the key to the success of DEX，said the PIC of yfx.com.
As we all know, Ethereum network is congested and the gas fee is also high. Therefore, many DEX projects in the Ethereum ecosystem choose Layer-2 solutions. The combination of Layer2+DEX has become a popular trend. yfx.com chose xDai stable chain’s side chain as Layer-2 solution.
Due to its high efficiency, xDai Chain has become more and more popular in recent weeks. xDai Stable Chain’s side chain provides 5 seconds block confirmation and an ultra-low gas fee of $0.01 each. The transaction efficiency and performance are much better than Ethereum mainnet.
xDai Stable Chain is compatible with Ethereum, transactions are more convenient. yfx.com chose xDai Stable Chain as the layer-2 solution. In addition to the above-mentioned technical advantages, we also considers its wide range of applications.
According to yfx.com, yfx.com’s Genesis Mining2 is about to start, and the details will be announced on April 1. At present, Huobi Pool will join yfx.com Genesis Mining2. After that, yfx.com will also participate in the OKExChian testnet and the DOT ecosystem. At the same time, yfx.com V2 version may be launched in the third quarter.
