Today, we are very thrilled to announce that PAX/USDT and ETH/USDT trading pairs have been added on DINNGO Exchange.
Despite various stablecoins have exploded into the crypto space since the end of 2018, Tether stablecoin (USDT) remains the dominant role, accounting for more than 80% of the entire stablecoin market cap. Noticeably, there has been an increasing demand for converting Tether to other stablecoins. But why would you convert a stablecoin to another stablecoin? Aren’t they all pegged to US dollar? There are two main motives behind the rise of stablecoins trading.
1. Risk Mitigation
There is perhaps no other crypto asset receiving more accusations of market manipulation than Tether. The blames of Tether’s transparency, trust, legality and centralization are no longer news. As Tether holders are exposed to the threat of its validity and solvency, the only way to mitigate the risk of a Tether collapse is to convert the USDT to regulated stablecoins. And here we choose Paxos Standard (PAX), a regulated stablecoin that is audited and always redeemable 1:1 for the U.S. dollar. DINNGO users will be able to trade USDT for PAX or ETH on our secure platform.
2. Arbitrage Game
Whether by organic market fluctuations or deliberate market manipulation, once the price of the stablecoins is less than or more than a dollar, price arbitrage opportunities are created. Price arbitrage between stablecoins is still relatively new and very few decentralized exchanges offer stablecoin to stablecoin trading pairs. As such, we are bringing this exciting trading opportunities to arbitrageurs. Combining with our streamlined fiat gateway, DINNGO Exchange is the go-to for trading stablecoins with no worries of hack.
There is no underestimate of how much the stablecoins pairing is demanded and we are extremely excited to introduce the new USDT trading pairs to our users.
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