PolyX — Next Generation DEX
Welcome to PolyX, a true Decentralized Exchange.
PolyX — An Overview
PolyX Exchange is a decentralized spot and futures exchange built on the Polygon network. PolyX will allow users to trade without submitting KYC, depositing funds or having restricted leverage.
PolyX Exchange is backed by the PXY Index, a basket of cryptocurrencies designed to balance risk and growth to enable a long-term maturation of the index and platform. The Index acts as an AMM for the PolyX platform and allows users to open trades by using liquidity from the index.
You will be able to trade cryptocurrencies, forex, indices and commodities on the PolyX Exchange as we rollout different asset classes over time, all whilst connecting your own private web3 wallet.
Why are DEX’s so important?
The requisite need for decentralization is higher than ever. Over the past 12 months, we have witnessed the fall from grace of many high profile cryptocurrency protocols and leaders due to poor management, concealed ponzi schemes and more recently fraud and theft. Subsequently, this has left the industry in a battle between either; A — Implore more regulation or B — Build true decentralized products.
But on the face of it, how do you regulate bad actors? — They have existed forever in trad-fi, so how is cryptocurrency regulation going to stop these megalomaniacs from exploiting the system for their own degenerate greed? — You’re right, it won’t.
Let’s not get it mixed up, we don’t disagree with regulation… to a certain degree, however we believe the more reasonable approach to the future of cryptocurrency is by building amazing decentralized counterparts to widely used products such as exchanges, P2P lending and certain financial products.
Thus, PolyX was born. Out of a pure desire to provide the industry with an elite platform that overhauls the need to trade under a centralized company. What’s the phrase? — “Not your keys, not your coins”.
A message from the team
Thank you for reading our first article on the PolyX Exchange. We appreciate it’s short and sweet, but that’s because we wanted a friendly introduction to provide the framework we needed before we begin rolling out specific feature breakdowns and utility expansion.
Over time, we will release small snippet articles explaining features of the platform and how we are different to other DEX’s in the space.
We are working tremendously hard behind the scenes to get the platform up and running, we are extremely close to having our testnet complete and thus it is time for us to begin building a platform for us to showcase our hard work.
If you’re excited for the future of the protocol, please follow our social media channels and join our Discord ready for the community launch. You will be placed into a Waiting Room within the Discord where you will be able to chat and get ready for the launch of PolyX.
Thank you for being on-board this journey with us.
PolyX team.
Twitter — https://twitter.com/polyXexchange
Telegram — https://t.me/polyxexch
Discord — https://discord.gg/8VXyfGVvdY
Link3 — https://link3.to/polyx
