WandX, a multi blockchain DEX, and protocol to trade token baskets, has recently announced upgraded and recalibrated features for the WandX desktop app, which you can read more about below.
The aim behind developing the WandX desktop app has been to not just serve the Basket Protocol and DEXs across different blockchains, but to develop a one-stop decentralized non-custodial trading, lending and staking solution for anyone holding a crypto asset.
Additionally, other exchanges and wallets will be able to use the WandX SDK to enable the ability to lend/stake crypto for the users of their wallet and exchange.
Full Recalibrated Features of WandX
- Multi-asset wallet: On WandX, users are in control of their own keys, so only they will ever control their crypto asset(s). Users can also import/create a new wallet on ETH, NEO, Wanchain, AION, and Tezos chains and integrate Ledger into the desktop app.
- One-stop trading platform: Apart from the WandX DEX on ETH, NEO, Wanchain, and AION, WandX will act as an aggregator of DEX orders across Bancor, Kyber, Uniswap, and 0x. Therefore, depending on the crypto that a user owns in their wallet, they will always get the best price to execute a trade.
- Crypto lending platform: The team is designing the WandX app in a way that it will act as an aggregator of lending protocols, starting with those built on ETH. This way, any crypto asset that is present a user’s wallet can be lent out using any of the decentralized lending protocols connected to the WandX desktop app.
- Crypto staking platform: PoS and dPoS tokens provide the easiest way for users to be able to grow their crypto while holding control of their funds. The WandX app now will provide a decentralized staking solution for these staking-based cryptos. For the initial pilot, Tezos and Livepeer staking will be introduced, after which other tokens will follow suit.
Native WAND Token Enhanced
The utility of the WAND token will be enhanced significantly to support not just trading, but also lending and staking functions. The WAND token and its derivatives (WANDN, WANDW, and WANDA) can be used to obtain discounts up to 75% on all of the above services.
“None of this points to a pivot but does indicate a recalibration of development plans. Our broad goal remains what it has been, it’s scope now greatly enhanced. It’s a massive goal, we know, but it’s the hard problems that are worth tackling.”
– Abhinav Ramesh, Founder at WandX