Trading will start on March 17th
Over the past few years, Decentralized Finance, or DeFi, has been one of the biggest trends in the blockchain sphere. Though the term DeFi was relatively unknown 2 years ago, it seems as though a new record for value locked in DeFi is set every day.
Today, there is a robust ecosystem supporting DeFi. Some of the key players in the whole system are decentralized exchanges, which allow traders to trade on a peer to peer basis without relying on a central exchange. Unlike central exchanges, where the order book and execution of trades are overseen by a single company, decentralized exchanges (DEX) are run completely on blockchain technology.
As the DeFi phenomenon grows in scope, one of the biggest challenges for traders has been getting orders filled in a timely fashion, as decentralized exchanges typically have less liquidity than centralized platforms. To address these issues, newer exchanges are running specific protocols to ensure liquidity. One such exchange is the widely popular DEX Uniswap.
Built upon the Ethereum blockchain, Uniswapwas launched in 2018 and has one of the highest market capitalizations amongst DeFi projects. The service combines 2 different contracts in its protocol: a decentralized exchange and one “factory” contract. These aspects work hand-in-hand, with the factory contract facilitating the addition of new tokens to the platform while the exchange executes swaps (or trades) from one token to another.
The liquidity problem is solved by incentivising traders on the platform to become liquidity providers. Tokens of participating traders are pooled and provide liquidity and in return, traders who provided tokens will receive a share of trading fees.
If you’ve been wondering why we’re covering Uniswap when this is an announcement of the listing of JulSwap, it’s because JulSwap is the equivalent of UniSwap with the difference that it’s running on Binance Smart Chain rather than Ethereum.
JulSwap offers the same trading engine and analytics as Uniswap, and complements them by features from SushiSwap. The JustLiquidity Protocol employed by JulSwap ensures that traders won’t have to wait long for orders to be filled, while the platform’s Token Bridge lets traders use both ERC20 and BEP20.
JulSwap is fueled by the platform’s native tokens JulD and Julb, which will be listed on the Bitcoin.com Exchange on Wednesday, March 17th 10:00 UTC with BTC and USDT pairs.
“We’re exhilarated to be providing a venue for JulSwap’s tokens and to increase our DeFi offering. We believe that in the future DEX and CEX will be acting in a complementary manner to provide traders of any sort the perfect platform to manage their crypto portfolios.”. – Danish Chaudhry, CEO Bitcoin.com Exchange.