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Token-To-Token Trading Is Now Enabled On Dexter Opening The Doors To Non-XTZ Markets

Token-To-Token Trades are now available on the Tezos Dexter Decentralized Exchange.

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Token-To-Token Trading Enabled On Tezos Decentralized Exchange Dexter

Dexter, the decentralized exchange on Tezos, has just enabled token-to-token trading. This is an important upgrade. Previously traders could only make trades which involved XTZ.

So, you could only buy and sell tokens in exchange for XTZ. Current tokens that are available on Dexter are USDtz, tzBTC, ETHtz and WXTZ.

After the current upgrade, you can now make USDtz – tzBTC trades for example.

An important development since this opens the Tezos DEX market for people who do not want to trade XTZ, but who do want to take advantage of the low transaction costs on the Tezos network.

Markets like ETH-BTC, USD-BTC and USD-ETH are a lot bigger than XTZ markets. These traders can now trade on a decentralized exchange with low fees and low transaction costs.

An interesting option when you prefer trading on a DEX, especially if you realize that average transactions on Tezos are about 3,000 times cheaper than on Ethereum. 

These low costs make the following, an insignificant detail: the current token-to-token trades are actually two trades using XTZ, merged into one frontend action. 

So you are making two transactions in one: trading tzBTC for ETHtz actually are two backend trades: tzBTC to XTZ, followed by XTZ to ETHtz.

Paying transaction costs twice isn’t such a big deal though. Now your transaction is “only” 1.500 times cheaper compared to if you’d have made it on an Ethereum-based DEX.

This temporary workaround will eventually be upgraded to single transaction trades. But for now, it adds an important option to the trading possibilities on Tezos.

Soon: A Cross-Chain Gateway

Soon TEZEX, a cross-chain gateway, will go live. This will enable you to move from Ethereum to Tezos and back with tokens that are available on both Ethereum and Tezos.

For now the tokens that are wrapped are ETH, BTC and USDC-USDtz. But soon we will see wrapped ERC20 tokens available to trade on Tezos through Wrap Protocol, provided by Bender labs.

 At that stage, token-to-token trading on Dexter will open up the whole market new on Tezos.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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