DMEX, a decentralized cryptocurrency exchange, today announced it has launched public trading of derivatives with no gas fees in response to the growing demand for new products among crypto users and rising fees on the Ethereum network.
By using the xDAI sidechain for processing trading transactions; DMEX reduced gas fees to a near-zero level while keeping user funds stored on the Ethereum blockchain. The transition allows traders to place orders starting from $10. Users can now send withdrawal requests from the xDAI trading contract to the Ethereum custody contract, bypassing gas fees.
DMEX offers users a selection of trading pairs and perpetual contracts with up to 100x leverage, with BTC, ETH, or DAI as margin currencies.
The DMEX development team is intent on expanding the functionality and capabilities of the platform. Plans for the near future include the addition of new currency pairs and margin currencies to expand the list of tradable assets and attract broader audiences of users.