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Bithumb Launches Decentralized Trading Exchange ‘Bithumb Dex’

Bithumb DEX, a decentralized trading platform launched by South Korea’s cryptocurrency exchange Bithumb on October 15, 2018.

Decentralized Exchange (DEX)

The launch follows, ‘Airdrop’ and ‘free transaction fee.’ events as per Bithumb’s official twitter announcements.

In the Airdrop event, 500 ETH worth $10,000 distributes to 1000 traders who trade on the platform for two weeks. To qualify their trades, the users must have trading of a minimum of 1 ETH worth trade volume on the Bithumb exchange. Accordingly, the top trader will win 50 ETH and the second 30 ETH, third 15 ETH. This event lasts up to October 30, 2018, after its start on October 15, 2018.

The free transaction event is simple, as the traders won’t be applicable to provide fees to the exchange for transactions, but pay necessary gas charges to the ETH network. The timings for this event will end on November 15, 2018. Read the full details on their official page.

Bithumb Dex Vs. Centralized Exchanges

The Decentralized Exchange came into existence with the collaboration of ‘Oneroot network’ (RNT). However, to provide decentralized protocol working on the Ethereum blockchain technology to make decentralized transactions. R1 protocol uses for order matching and order execution, which beliefs to increase the efficiency of the whole process.

The order data and liquidity of the platform will share with R1 exchange platforms. This will be via an R1 protocol, which would allow DEX to have liquidity right from the start.

To avoid a clash with the regulators of South Korea, the exchange’s 51 percent stakes was bought by BK Global consortium at $354.0.9 million. This puts an overseas operator as manager of the exchange.

The rumors of Bithumb’s DEX have finally become a reality after the official announcement. Have you tried the DEX yet?

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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