Centralized exchanges have been facing heat from regulators as lawsuits continue to pile on firms like Coinbase and Binance. The uncertainty has bothered crypto investors to the extent that centralized exchanges saw hundreds of millions in outflows in days. This precariousness highlights the need for decentralized exchanges as it is clear by the emergence of INNODEX.
Although network gas fees are not incurred on INNODEX, all transaction fees are free throughout April.
The hybrid exchange INNODEX has been officially offering services since April. The crypto exchange, while operating like a traditional DEX, enables users to store and trade their assets directly from their personal wallets without complicated KYC procedures.
The exchange eliminates the high gas fees associated with each transaction on a DEX. Instead, a single gas fee is charged daily when the user’s wallet is synced with the blockchain, with no additional fees charged for subsequent trades.
Metamask wallet integration
Upon connection via MetaMask wallet or personal email, users are automatically issued Ethereum and Solana personal wallets within Innodex. Currently, only Ethereum chain transactions are being processed. Solana chain transactions will be introduced within this month. There is a reason why decentralized exchanges are emerging right now. As much as it is coming from the uncertainty of centralized exchanges, the innovation among decentralized exchanges has been remarkable.
INNODEX is unique in a way that it provides a trading service that is not different from centralized exchanges in a decentralized system.
Will centralized exchanges remain relevant in the long term?
When Satoshi Nakamoto created bitcoin, the anonymous figure said that a monetary system doesn’t need a central authority, like a government, to work. The creator of bitcoin was not a fan of centralized exchanges as well. With the collapse of banks that held funds of crypto exchanges, the ripple effect was felt around the entire industry. The dependence of cryptocurrencies on the bank is definitely concerning. That is why decentralized exchanges will continue to gain more mainstream exposure.
Exchanges that offer the benefits of decentralization and centralization like INNODEX are likely to be more successful and lead the way. Like a decentralized exchange, INNODEX’s users’ assets are held in the exchange’s internal personal wallets that are transparently visible on the blockchain. And it also provides a trading system similar to centralized exchanges without any gas fees incurred in each transaction.
The blockchain patent technology owned by NvirWorld, allows for fast trading speed, alleviates the burden of gas fees for users, and maximizes convenience.
NirWorld preparing to launch a new P2E game
NvirWorld, which is receiving praise for opening up new horizons in exchanges through INNODEX, is preparing to launch a new P2E game “Sugar Flavor” and an online social casino game in the second quarter. Later this year, the company is planning to launch its Layer3 mainnet. It is being hailed as a ‘next-generation Ethereum’ with a great potential as it has a ‘deflation’ structure in which its own token ‘NVIR’ is incinerated using the mainnet.
