Atomex Hybrid Exchange Becomes The First To Launch kUSD-XTZ Pair
Atomex, the hybrid exchange which also allows for atomic swaps is launching the kUSD-XTZ pair. Users will also be able to trade kUSD against BTC, ETH, LTC, USDT and TZBTC.
Disclaimer: Participating in DeFi systems and with DeFi Applications usually comes with high-risk. Extreme caution and thorough research must be undertaken by any user utilizing such systems, or applications. XTZNews does not endorse any DeFi applications mentioned in this article and has presented the news for public visibility only.
Atomex & kUSD
The algorithmic stablecoin Kolibri (kUSD) launched on the 18th of February. Today, the following trading pairs have become available on Atomex. From this moment onwards, you can trade kUSD with XTZ, BTC, ETH, LTC, USDT and TZBTC.
Besides the wallet function, Atomex also enables Atomic swaps. Atomic swaps enable you to trade cryptocurrency in a decentralized way, without any dependency on a third party. All trades are made through a smart contract.
An interesting fact about atomic swaps is that you can make atomic swaps between different blockchains. So, you can trade BTC for XTZ on Atomex for example. You do pay transaction costs on two blockchains though in that case.
Buying tzBTC with XTZ would make more sense in that case, since you would only pay transaction costs for the transaction of tzBTC and XTZ on the Tezos blockchain, which is a lot cheaper.
Atomex is a HD Wallet that supports XTZ (Tezos), BTC, ETH, LTC (Litecoin), the Stablecoin USDT (Tether), and also wrapped BTC on Tezos (tzBTC) and on Ethereum (wBTC).
Atomic Swaps are made possible through Atomex’ Hybrid DEX that works by applying on-chain implementation, based on hashed timelock smart-contracts on each blockchain that is involved in the swap.
This means that you can exchange assets in an anonymous and secure way without the need to trust a third party.
Atomex is non-custodial, which means that you own your private keys. There is no centralized database that stores the keys of Atomex users. Your keys are stored on your device, encrypted, using AES-256. (256 bits Advanced Encryption Standard.)
Because you own your keys, transactions are made directly from your blockchain address to the atomic swap contract during a deal.
No additional fees
You don’t pay any additional fees while making an atomic swap. You only pay the transaction costs for executing the smart contract. Atomex is different from DEXes like Dexter and Uniswap in that way.
Atomex has a regular order book like on a centralized exchange. It doesn’t utilize an AMM (Automated Market Maker) like on Dexter.
Neither Atomex, nor market makers, charge a percentage fee of the total amount of your transaction.
Atomex is developed by the “Baking Bad” team, which is well known in the Tezos community as an active contributor to the developer ecosystem and for its website where you can find the rankings of Tezos bakers (Bakers are stakers that run a Tezos node to which XTZ holders can delegate their XTZ and earn staking rewards.)
You can find more detailed info on Atomex decentralized exchange and cross-chain atomic swaps here.
You can download Atomex wallet here.
Any content found on this website named xtz.news is an opinion of the author who produced the content and is for information purposes only. Any information, or content found within the website xtz.news is not intended to be investment or financial advice. Find our full disclaimer here.