Switcheo, the cryptocurrency platform technology ecosystem, today announced that Demex, its new decentralized derivatives exchange is now live. For the Switcheo Foundation, the launch marks a significant milestone in its goal to establish a decentralized trading platform superior to the centralized cryptocurrency exchanges of today.
As of now, Demex users can trade on the following spot markets (Maker Fee: -0.05%, Taker Fee:0.25%):
- SWTH/ETH
- SWTH/USDC
- ETH/WBTC
Decentralization
As a fully decentralized platform, that supports any cryptocurrency derivative product. It is built on the Switcheo TradeHub, a custom Layer-2 blockchain solution. Demex provides speed, scalability, and safety, so users can trade the way they want with no registration or deposits needed.
Demex’s order placement, matching, and settlement system are on-chain, and transactions are verified by more than 20 validators. Users can begin trading immediately and anonymously, via a Switcheo account, Ledger, MetaMask, or a self-custody wallet.
“Spot markets are just the beginning, and futures markets are next. Expect BTC and ETH futures to be rolled out very soon. The security and reliability of the platform remain our utmost priority. All users are invited to submit bug reports, and head to our community channels to suggest improvements to our platform.”
– The Switcheo Team