Decentralized Exchange For Professional Traders Launched By Digital Payment Platform PlasmaPay

Global payment and remittance platform PlasmaPay has announced a new decentralized exchange (DEX) that will reportedly provide fast, secure and liquid trading.

PlasmaPay provides fiat on/off ramp services to more than 100,000 users from over 160 countries via mobile and desktop apps. It uses blockchain technology to allow users to securely store crypto and fiat currency, buy and exchange digital assets, send and receive cross-border payments, and build payment networks with zero transaction fees. The company’s DeFi ecosystem allows the underbanked and unbanked population access the financial services without an intermediary.

Called PlasmaSwap, the new DEX will reportedly offer the first fully decentralized implementation of limit trades. At present all other DEX’s use centralized order books, resulting in expensive gas fees. On PlasmaSwap, users save on gas fees and maximize profits in a truly decentralized manner, while also removing the reliance on centralized order books. Limit orders smart contracts will be interacting with Ethereum 2.0, and traders will be able to trade on swap without an ETH balance.

The new platform will enable professional arbitrage traders to leverage PlasmaSwap’s Flash Rebalancer tool to rebalance liquidity for one trading pair to many in one transaction, giving traders the benefit of saving vastly on gas fees. PlasmaSwap will also introduce a tool, called PlasmaVaults, designed for institutional investors that provides a multisig account (wallet) that can be controlled by many people, enabling truly decentralized trading.

“Existing decentralized exchanges lack the streamlined user experience and intuitive ease of use of their centralized counterparts. They also tend to lack liquidity for most trading pairs,” said Ilia Maksimenka, CEO of PlasmaPay. “The launch of PlasmaSwap is an evolutionary leap towards making this exciting technology a reality for professional traders and institutions looking to enter the DeFi space. In this constant flux, where new and improved technologies are being introduced and accepted rapidly, the advancements brought by PlasmaSwap decentralized exchange will accelerate the process of unifying the old and new financial paradigm.”

PlasmaSwap will be integrated into the Plasma.Finance platform. The DEX will also offer users DeFi analytics from Binance and Kraken dashboards, including trading view, trading data and liquidity depth.

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