Newdex is a popular ‘Decentralized exchange’ and has been marked as the world’s largest decentralized exchange built on the EOS Blockchain. Newdex has it's the vision as acquainting the world with another time of decentralized exchange. The exchange was established on the 8th of August 2018 and was propelled on the EOS Blockchain. Newdex had additionally propelled TRON Based decentralized trade which is joined by TRON official in August 2019.
Newdex Recently launched it’s Cross-chain Deposit and Withdrawal function which happens to be a huge development, the launch also witnessed the inclusion of two new trading pairs which are BTC/USDT and ETH/USDT to the platform. This will now give way for users to deposit ETH, USDT, BTC, and also other assets on the exchange and get pegged tokens issued by Newdex and available on the EOS chain.
Newdex launched the "Cross-chain deposit and withdrawal" feature on PC and Dapp on March 20, 2020. The specific operation process for PC is as follows:
- On BTC / USDT and ETH / USDT trading page, find the “Cross-chain deposit and withdrawal” access and select “Deposit coin” or “Withdraw coin” function. In a personal asset center, find "Cross-chain deposit" access and "Cross-chain withdrawal" access.
2 ) Click "Deposit coin" to deposit BTC, ETH, USDT, and other cross-chain assets, and you will receive pegged BTC, ETH, USDT, and other assets of EOS chain. Please read the "Notes" on the page carefully before trading.
3 ) Click "Withdraw coin" to convert pegged BTC, ETH, USDT, and other assets of EOS chain into corresponding BTC, ETH, USDT, and other assets. Please read the "Notes" on the page carefully before trading.
4 ) Click to view cross-chain "Deposit & withdrawal record".
For withdrawal functions. Users will need to provide a receiving address when applying for a withdrawal using the pegged tokens. These pegged tokens are then converted to their original form and sent to the address provided. The withdrawal process ends when assets have been received. The Newdex Cross-chain deposit and withdrawal records can be checked on the EOS chain as they remain transparent. They can also be matched and settled on-chain.