A new hybrid is set to launch at the end of the month, ByteDex, an exchange with a native wallet and token(ICO is currently underway and will finish the day before launch].
Centralised exchanges offer liquidity and convenience, but lack asset ownership in a tangible sense, and whereas their decentralised counterparts have shown massive innovation and introduced a whole new financial ballgame to crypto,
Why is a new model needed?
Because centralised exchanges fail us time and time again and keep the public psyche in a constant “trade, trade, trade!” frenzy. Decentralised exchanges in their current form, with unexpected fees, no ability to process fiat payments and liquidity drainage issues have given us a glimpse at what can be done, but have also shown themselves to be imperfect models.
The ByteDex hybrid exchange model [and this is just the beginning] will connect Pancakeswap, Uniswap and Justswap on three separate blockchains to a single centralised authority.
Why is ByteDex a hybrid?
Because despite the inclusion of a central authority in order to process fiat payments and handle centralised issues, Byte Exchange will allow trades to happen directly on the blockchain and users will at all time retain their private keys.
What are BYTEDEX tokens?
The native exchange token of ByteDex's ecosystem. Staking features, referral bonuses and large discounts will apply to those who both hold and stake BYTEDEX. The tokens can also be swapped for fiat money and cryptocurrency.
The Byte Wallet has already launched, and the ICO continues until July 30th. The next day Byte Exchange will launch.
ByteDex as a project places strong emphasis on community and Telegram is the perfect place to get involved. Simply click on the related social media links to get involved with or find out more about the community and the project. You can also visit their website bytedex.io