DMEX surpasses $100M in daily volume in just two months
The new kid on the block DMEX (Decentralized Mercantile Exchange) that offers margin trading for the most popular crypto-assets has surpassed $100 Million in daily traded volume just two months after its launch.
Launched at the beginning of July, DMEX is the second project from the team behind EtherMium.com a decentralized ERC20 Token Exchange. With vast experience in smart contract and UX development, the team has started on the path to take trading to the next level and take on the industry leader BitMEX.
DMEXoffers an absolutely identical experience to traditional centralized exchanges, you don’t even have to pay gas fees (an unpleasant element in dealing with dApps), DMEX is taking care of these costs, the user simply pays the trading fee on each trade.
Trades are executed instantly, and sent in batches to the blockchain to make the relevant account movements. Users don’t need to wait for the trade to be confirmed on the blockchain as is the case with most DEXs.
User funds are stored on a smart contract and only the user has access to his/her funds, no one else, not even the people behind DMEX. Users can withdraw the funds from the contract at any time.
Dmex allows trading with up to 100X leverage on top cryptocurrencies such as BTC, ETH, LTC as well as some tokens like BAT and BNB although with lower leverage.
Another unique selling point for DMEX.App is what is called “outside price liquidations”. This means that when the positions reach their liquidation price, a decentralized oracle sends in the price from a reputable spot exchange like Bitstamp (every asset has its price source predefined), and that price is used as the basis for liquidating a position. This means that the price cannot be manipulated on the exchange in order to liquidate a position, a concern voiced by many traders using centralized exchanges.