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Avalanche (AVAX) Expands Horizons With New Decentralized Exchange

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Tue, 7/02/2023 - 1:30
Avalanche (AVAX) Expands Horizons With New Decentralized Exchange
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Avalanche (AVAX) has established itself as a strong competitor on the cryptocurrency market and beyond by partnering with some of the industry's leading players. One of its most significant collaborations has been with Chainlink (LINK), leveraging the decentralized proof-of-reserve (PoR) system to offer its users advanced dApp enhancements, including asset collateral verification, prevention of arbitrage opportunities and enhanced security measures.

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Additionally, Avalanche has forged a groundbreaking partnership with Amazon, increasing its exposure to the retailer's global customer base and making its blockchain technology more accessible to users in over 100 countries. This collaboration facilitates the creation and management of nodes on the Avalanche network, further promoting decentralization.

These collaborations, added to the positive momentum on the crypto market, have caused AVAX to have a valuation of over 80% since the beginning of 2023. In addition, the altcoin has been able to steer clear of bad marks that have tarnished some of its history, such as incorrect financial data disclosure of its total value locked (TVL), network transaction capacity and the large purchase of AVAX tokens by Terraform Labs.

Avalanche continues to make strides with the recent addition of decentralized exchange (DEX) Dexalot. This article will delve into the potential impact of this development on the growth and advancement of Avalanche's decentralized finance (DeFi) capabilities.

New DEX at Avalanche

Dexalot positions itself as a fast and low-cost network with a wide range of benefits. With the goal of providing a decentralized trading environment that is truly inclusive and transparent, the platform aims to rival traditional centralized exchanges through its user-friendly interface. It incorporates some features of centralized exchanges, such as a limit order book, while preserving decentralization through its integration with Avalanche's C-Chain network.

To maintain scalability, Avalanche has been divided into three networks, with the C-Chain network designed for high-performance applications requiring scalability, finality and real-time transaction processing. This network is compatible with the Ethereum Virtual Machine (EVM), allowing for seamless integration between Avalanche applications and the leading Ethereum network.

As a C-Chain network-based platform, Dexalot offers EVM compatibility and enables direct trading of ERC-20 tokens against AVAX. It boasts an impressive transaction speed with a finality of one to two seconds and a low cost of implementation and operation.

Similar to other DEXes, Dexalot intends to launch its own token in the near future to incentivize and reward its most dedicated users. The token distribution will be equitable, fostering community ownership and participation in the platform's management.

Decentralized exchanges are among the fastest-growing dApps in DeFi, particularly with the decline of FTX and the increasing distrust in centralized exchanges. The launch of Dexalot could provide a boost to Avalanche and expand options for decentralized finance trading, attracting investors seeking alternatives to the traditional financial industry.

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