Dexalot, the widely-used Avalanche-based decentralized exchange platform, is broadening its reach by debuting on Arbitrum, an Ethereum Layer-2 solution that facilitates fast and high-volume transactions without compromising on Ethereum’s leading smart contract functionality.
Dexalot reached an important achievement with this announcement, marking the start of their plans to grow and explore opportunities outside the Avalanche network where they initially emerged.
Dexalot is a new Decentralized Exchange (DEX) platform with a distinctive look and feel similar to centralized exchanges. This is largely due to its adoption of a traditional Central Limit Order Book (CLOB) model for executing trades. In contrast to the Automated Market Maker (AMM)-based DEXs widely used in Decentralized Finance (DeFi), Dexalot offers users an alternate trading experience. By employing CLOB architecture, Dexalot addresses common issues with AMMs such as substantial slippage and uncertain price execution.
In contrast to traditional Decentralized Exchange (DEX) platforms based on Automated Market Making (AMM), the CLOB model allows traders to set limit orders at precise prices. This means their trades will be executed only if the market reaches that specific price, ensuring certainty and efficiency in capital use, much like in centralized exchange platforms.
On Dexalot, users have the option to set up a limit order with a desired order size and price. If this order aligns with an existing one in the market, it will be executed straight away. Conversely, orders without a match will join the queue in the order book, waiting for compatible bids or asks. Additionally, users can opt for partial execution of their taker orders, allowing them to choose between all-or-nothing fulfillment. Dexalot facilitates this functionality by processing only completed parts and adding any remaining amounts back into the order book.
Since February 2023, Dexalot has been actively operating on the Avalanche network and has grown to be one of its busiest trading platforms. With its increasing popularity, Dexalot is now prepared to broaden its user base. To date, it has handled over $1.1 billion in transactions on Avalanche. This figure is predicted to increase substantially with the addition of Arbitrum users.
“Dexalot’s COO Tim Shan announced with great enthusiasm, ‘We’re thrilled to bring Dexalot’s shared liquidity multichain order book to Arbitrum users.’ This is a significant accomplishment for our team and we’re proud to make it happen on the Arbitrum network.”
Users of Arbitrum can look forward to utilizing advanced trading functions offered by Dexalot that are not present in other Decentralized Exchange (DEX) systems. Furthermore, developers working on projects based on Arbitrum can benefit from launching their native tokens on a reputable and recognized platform provided by Dexalot. Dexalot emphasizes its non-custodial structure as an excellent match for Arbitrum, which positions itself as one of Ethereum L2’s most decentralized solutions.
According to Peter Haymond, Arbitrum’s senior partnerships manager, Dexalot’s commitment to fairer pricing, increased liquidity, and improved capital efficiency is reason enough for the community to be thrilled. He went on to state that Dexalot’s centralized exchange-like experience would bring DeFi a step closer to widespread acceptance.
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2024-04-24 16:02