As stated before in the previous article, Newdex is a decentralized Exchange platform, having the flow of digital assets as their priority. Newdex is devoted to creating a new generation digital assets trading platform,opening a new era of decentralized trading technology. Newdex's operating mechanisms are Newdex EOS Version which has deployed smart contract and has 'matching and settlement on-chain' as operating mechanism and the Newdex TRON Version which has 'matching off chain and settlement on chain' as operating mechanism.
Newdex was founded on August 8,2018; and has achieved so much in such a short time, that is; it was launched on EOS firstly and has supported EOS side chains such as: BOS, TELOS, LYNX, etc. Newdex exchange has a lot of characteristics like Security, Transaparency, Speed, Focus on liquidity and various activities that help the lives of users. There are also technical innovations available on the exchange such as trading via embedded wallet and code scanning trading via wallet.
In addition,Newdex has launched their "cross-chain deposit and withdrawal" functions together with two new trading pair that is: BTC, USDT and ETH/USDT. Users are hereby informed to deposit BTC, ETH, USDT(ERC20) and other assets on the Newdex platform through the "cross-chain deposit and withdrawal" function and obtain pegged assets on the EOS chain issued by the platform. The platform as designed it in such a way that deposits and withdrawal record can be checked, matched and settled on the EOS chain. The cross-chain deposit and withdrawal will enable depositors to be able to deposit assets which will automatically be converted into pegged assets on the EOS chain.
Also, withdrawals can be triggered by indicating a receiving address to apply for withdrawals using pegged coins. This will enable the asset to be converted back to their native form and be sent to the indicated address. Withdrawal process ends once the digital assets are received. The cross-chain deposit and withdrawal has vehemently alleviated the pair point of centralized Exchange deposit and withdrawal.
Just recently, Newdex has introduced 'Newdex Swap' function which is an EOS Version of Uniswap, an Ethereum project. One can use this function to become a market maker and also be able to deposit market making funds to earn user's swap fees. The function can also be used for fast trading where you can get the desired coins based on the current transaction price.
SUMMARY:
In summary, cross-chain deposit and withdrawal records are transparent and verifiable through the EOS chain. As a matter of fact, Newdex has greatly improved liquidity and user experience by increasing the number of digital assets recorded and has also supported beyond what was earlier viewed, by offering an innovative cross-chain deposit and withdrawal function system. In other news, with the Newdex Swap, users trade automatically and directly with the pool which is simple and much faster.
Newdex/NewdexAfrica Official accounts:
Official Newdex Telegram: https://t.me/newdexchat
Hive: @newdex-io
Newdex Discord: https://ndx.myfreecrypto.org/
Website: https://www.newdex.io
NewdexAfrica Telegram: https://t.me/newdexafrica
Hive: @newdexafrica