Develop your White label decentralized exchange platform to become a front-runner in the DeFi space
When Bitcoin started to gain popularity and the genuine interest in cryptocurrencies started to pick up after 2010, the number of crypto exchange platforms began to surge in the digital space. Over the years, with technological growth, far more advanced exchange platforms have emerged. Decentralized exchanges have recently gained prominence in the financial sector as they address all major issues with centralized financial transactions. As decentralized exchanges eliminate the need for central entities or third-party intervention in transactions, it is prophesied to shape the future of the fintech industry. Let’s get into the details of decentralized exchanges and how they can be an ideal business opportunity in the DeFi space.
What are DEX and CEX?
CEXs or Centralized exchanges are the traditional exchanges with a central entity overlooking transactions on the platform. CEX boasts of high liquidity and low trading costs. It allows users to trade tokens for digital currencies or fiat currencies. It also offers features like staking, derivatives, trading, etc. While CEX has enjoyed success in the blockchain space for a long time, the emergence of DEX has completely changed the landscape.
DEXs or Decentralized exchanges are where all transactions are executed with smart contracts, eliminating the need for intermediaries or central entities. Without any custodians, users can have complete control of private keys. DEX platforms have gained widespread popularity with their seamless and transparent functionality.
Features of a Decentralized Whitelabel exchange
👉 Options trading: The decentralized exchange platform includes various trading options like margin trading, leverage, etc.
👉 Smart contracts: Smart contracts execute all transactions on the platform based on predefined codes. This ensures verified, credible transactions at reduced costs.
👉 KYC: The decentralized exchange platform is integrated with KYC authentication, which ensures only verified users access the platform, preventing disputes and fraudulent activities.
👉 Multi-currency wallet: The decentralized exchange platform is integrated with multi-currency wallets that are used to store and transfer funds. The wallet is built with robust security protocols and defense scripts.
👉 High TPS: The platform is built with high TPS, which allows any number of transactions to take place without hassles.
👉 Cost-effective trading: Decentralized exchange platforms ensure cost-effective trading with peer-to-peer transactions without intermediaries.
👉 Crypto liquidity: Decentralized exchange platforms offer high-volume trading that ensures efficient transactions without being affected by price fluctuations.
👉 History of transactions: You can store and view the history of transactions on a decentralized exchange platform to avoid any mix-ups.
Why Whitelabel decentralized exchanges?
Decentralized exchange platforms have started to gain traction in recent years. Many entrepreneurs and companies have began to develop their decentralized exchanges due to decentralized finance’s success. But many startups and small companies may lack the time and funds to build their own decentralized exchanges. This is where Whitelabel decentralized exchange platforms come to the rescue. Whitelabel decentralized exchange platforms are pre-engineered, pre-tested, and highly customizable decentralized exchanges that are extremely beneficial for small businesses. Since developing a decentralized exchange platform from scratch can take time and cost you big bucks, many startups and small companies opt for Whitelabel solutions for their projects.
How to develop a decentralized exchange platform?
✪Determine the type of decentralized platform that you want to create
✪ Fulfill the legal procedure of running a decentralized exchange platform
✪ Create liquidity pools
✪ Test your platform for bugs and launch it for public use.
Conclusion
the number of people using cryptos and DeFi services is growing daily. As more people enter the DeFi space, the demand for robust decentralized exchange platforms is also surging day by day. If you’re an entrepreneur looking for a profitable outing in the DeFi space, then opting for a Whitelabel decentralized exchange platform is the ideal way to go. Cash in on this optimistic future for decentralized exchange platforms by hiring a professional blockchain development firm with white DEX solutions.
