En Route To A Million Markets…
The mission of Paradex is to establish an open fiscal structure for the whole globe. The team at Paradex believes that it is possible to tokenize everything. In this regard, the team expects that there ought to be several tokens which are in a position of adding value to several communities at large, and that they will be able offer utilities in ways unknown previously.
Tokens will be able to function is diverse use cases, with the possibility of embedding them in a myriad of products as well as user experiences. However, in as much as their uses may have an element of distinction, each token requires a price, as well as an available market. According to Balaji Srinivasan, the CTO at Coinbase, utility may be precise, however, investments are universal. In many ways, Paradex goes a long way in bringing the all-purpose price-discovery functions to each token.
This is instrumental in making it simple for anybody to purchase or sell any visual asset, irrespective of the particular use of the token. In any token ecosystem, markets are by and large, a very key element in any token bionetwork.
In this regard, the main objective of Paradex is to establish the substructure in such a way that it can be relied upon and also easy to make use of. It doesn’t matter whether one is a developer in search of liquescency in the dapp, or a consumer looking for an easy way to purchase a token for use.
Reasons Why You Need To Use Paradex
- Ability to trade openly from your holder: when using Paradex, there is no need of depositing funds in order to transact. Additionally, you do not need to have any limits or withdrawal fees. Paradex gives you absolute regulation of your virtual assets.
- Makes sure that you have access to the top price: the matching engine that the team has come up with confirms that traders will always receive the best possible price, especially when they want to make market as well as limit commands which usually cuts across the order volume.
- Simplicity of usage: another reason why you ought to make use of Paradex is due to the fact that it is easy to use. The team has made it easy for you to establish your account for trustless transactions, thus giving you what it takes for you to transact on the site, mobile or through the API.
- Front running safeguards: the operating model utilized by Paradex safeguards consumers against front-running, which may be a possibility in other systems of dispatches.
- Free order terminations: several relays work using models that necessitate a user to pay charges for them to terminate open order. However, with Paradex, one does not need open to pay a dime to cancel open orders.
After connecting to Coinbase, Paradex is now active in several places all over the globe, with plans underway to build the upcoming token economy. The team has been working tirelessly, laying foundations for the company to be a platform which can reach out to support several markets all over the world. Here is how Paradex intends to realize this dream:
Add New Tokens
Paradex is currently planning to immediately add a number of tokens. This include: Huobi, Kin, AirSwap, Aragon, OxCert, Kyber, Civic, TrueUSD, Storj, RChain, Binance, and DistrictOx. These tokens are going to be added at a regular pace, by scaling them quickly in line with the evolution of the ecosystem.
— Brian Armstrong (@brian_armstrong) August 14, 2018
Introduction Of New DAI Pairs
The team has also added the ability for users to trade these tokens against the $DAI stablecoin:
- $BAT: Basic attention token
- $REQ: Request network
- $SNT: Status network token
As a result of the availability of several markets, it is vital to have bird’s perspective of all that is taking place. With the new Paradex dashboard, it is easy for users to see all the actions.
It is vital for traders to have a steady piece of feedback. This is due to the fact that it is sometimes difficult to move between markets seamlessly and quick enough. The team has resolved the issue by designing a good market selector.
A number of traders have on the platform prefer sets of markets which they actively lookout for and use on a consistent basis. The company has added a speed dial to ensure that prices are able to move speedily between markets.