Cryptocurrency

TRON Foundation Launches New Decenteralized Exchange Called TRX.Market

Published

7 years ago

November 16, 2018

rsuser

TRON Foundation

There’s a lot of talk about decentralized exchanges, but not many of them have been able to be successful in the market. That’s largely because of the large difference in experience that centralized and decentralized exchanges provide. While theoretically decentralized exchanges seem a very good idea to truly decentralize the cryptocurrency market, in reality they’ve not been successful in providing an experience that can be on par with the experience of centralized exchanges. However, that isn’t stopping TRON from launching its own decenteralized exchange.

That’s right. TRON has announced its own DEX called TRX.Market that will allow people to trade other cryptocurrencies with TRX. Announced only a few hours back, the exchange is currently live with 10 trading pairs only. And unfortunately, these trading pairs are not with any of the popular cryptocurrencies available in the market. Instead, they’re with tokens of other TRON projects. According to TRON Foundation itself, the new market is to provide more liquidity for Tron tokens. You can see the foundation’s tweet below:

#TWX is now available on @Tronfoundation #DEX, a decentralized exchange built to provide instant liquidity for Tron tokens. Using the unique automated pricing mechanism from Bancor formula Tron ensures your token can always be converted, even if no one is selling. 1/2 pic.twitter.com/6bSdQHOevT

— TronWallet (@TronWalletMe) November 13, 2018

As you can see, the foundation also said in its tweet that the exchange makes use of a unique automated pricing mechanism based on Bancor protocol to ensure that you can always trade your desired tokens no matter whether sellers are available or not.

The new market also made its first record within a few hrs: it surpassed $100 million TRX trading volume! Justin Sun proudly announced the accomplishment in a tweet and also set the goal of 500 million TRX:

https://t.co/cAeZU5w1jW breaks 100 million $TRX trading volume! Next milestone is 500 million #TRX! #TRON

— Justin Sun (@justinsuntron) November 15, 2018