Secretum, an all-in-one project that merges the benefits of a decentralized messenger, cryptocurrency wallet and NFT marketplace, addresses the most dangerous Web3 bottlenecks.
DEXes on fire, but hackers still grab millions
In 2021, the trading volume on decentralized exchanges continued rocketing. In April 2021, amid the unmatched spike of cryptocurrency market capitalization, this metric jumped to $3.8 trillion. Major decentralized cryptocurrency exchanges (DEXes)—Curve, Uniswap, and PancakeSwap—increased its trading volume by 550%.
Secretum creates a completely new platform on Solana blockchain ?— SecretumApp (@AppSecretum) December 7, 2021
This allows us to become the revolutionary secure messaging & trading dApp where your privacy is our top priority ?
Trade and send messages without any insecurities ?️#blockchain #privacy pic.twitter.com/wodrJwhtsm
During the same period, the CEX trading volume demonstrated less impressive growth. As such, DEXes are stealing CEXes' thunder: traders and their liquidity migrate from centralized platforms to decentralized ones.
DEXes look more attractive for traders with various levels of experience in crypto and blockchain. KYC neutrality, profitable rates and low fees are core catalysts of this process. At the same time, the most powerful one is the ability of DEXes' clients to retain 100% control over their keys and assets.
As DEXes do not use centralized servers and crypto storage, there are no downtime issues or accessibility problems. However, trading on DEXes also poses some risks.
First, DEXes are still vulnerable to sophisticated attacks by black-hat hackers. The attackers explore design flaws in the smart contracts architecture of decentralized exchanges (DODO, Poly Network, Badger DAO and so on) or bugs in the protocol's tokenomics (Avalanche-based Snowdog DAO).
Then, liquidity on DEXes can be "rug-pulled" by malefactors from the protocols' teams.
Secretum, a novel Solana-based ecosystem, addresses all of these limitations and barriers to guarantee its clients an unparalleled trading and chatting experience.
Secretum advances decentralization segment
Secretum relies on the distributed ecosystem of nodes instead of a centralized server. It has now registration or KYC checks: to sign in, users need only a Solana wallet address.
Secretum has an intuitive interface for peer-to-peer trading of Solana-based assets and non-fungible tokens (NFTs). In its chatting module, the two parties can interact only with Solana's addresses.
Also, compared to Ethereum-based and BSC-based DEXes, Secretum achieved the high performance of 50,000 transactions per second with an average of $0.00025 transaction fees.
Also, since all Secretum nodes are interconnected and verified, the protocol is 100% attack resistant: an attacker does not know which node he/she should attack to damage the whole ecosystem.