Project Analysis of a super lowcap @GMX_IO Killer
#Dexpools #VelaExchange #DXP #VLP #Metischarter @Dexpools @NFT_Djinn
In the crypto bear market, most decentralized spot and perpetual exchanges’ volumes have declined. However, DXP(dexpools now Vela) , one of the on-chain exchanges, has seen its price grow almost 500% in the past 30days.
We will analyze DXP by evaluating its strengths, token design, mechanisms, and risks, to find the reasons for its success.
Trending token analysis – $DXP
What is DXP (Dexpools now Vela)?
Dexpools is a Multichain Peer-to-peer OTC trading Platform where you can trade tokens and NFTs across chains with individuals buyers and sellers. The brands is seeing a new overhaul and ultimately changing the course of it's goals.
It has now come to include decentralized spot and perpetual trading with up to 20x leverage that supports low swap fees and zero price impact trades while allowing its users retain the power of self custody.
The new brand overhaul will also see the introduction of Fiat-onramp that will allow it's users deposit tokens using their Fiat currency.
Dexpools provides leverage trading with up to 20x leverage and spot trading with zero price impact on Multiple chains . Users can deposit tokens via a Fiat-on ramp system on the DApp, A one of a kind innovation in decentralized Finance.
Trading Information: Users can open long or short positions of popular crypto assets. The entry price, exit price, and liquidation price are shown below. Users can refer to them, and open new positions.
Token Function
As DXP holders provide liquidity for leverage trading, they will make a profit when leverage traders make a loss and vice versa.
Opportunities and Risks
As a new perpetual protocol, the mechanism of Dexpools (Now Vela) is totally different from other perpetual DEXes. It sets a pool for the liquidity providers with a zero price impact.
It uses oracle to get prices from many main exchanges to reduce the impact of large transactions on market prices. For leverage traders, it is a good perpetual protocol, because it provides max 20x leverage trading, 0% price impact, and fair market price.
For people who want to get rewards from staking, it is also a good protocol. DXP staking users can get rewards from swap and leverage trading fees with a high APR.
Supported chains
Dexpools currently supports Avalanche, Moonriver, ethereum, Metis, OKC Mainnet Optimism, and BNBChain. Coming soon to Polygon.
DXP TOKENOMICS & Utility
The DXP token which will be later exchanged 1v1 for VLP is a community token within the Dexpool's DAO ecosystem.
DXP token holders will interact and contribute to DAO governance, and in return may be eligible for rewards generated by the Dexpool transactions from end user trades. Total supply will be 100 million tokens to allocate with the following shares.
The initial dex offering price of dxp was $0.50 it was hit by the bear market just like every other tokens following the trend of bitcoin and ethereum, but is now recovering rapidly since the announcement of relaunch. it has grown 500% since ATL.
Keep in mind this is all organic, there is no ongoing official marketing at the moment, when that happens we might see parabolic growth as the exchange is set to challenge the industry player #GMX.
Market Cap
$1,922,388
Circulating Supply
6-9million
Max Supply (HARDCAPPED)
100million
Advantage Over GMX & Other Decentralized perpetual trading platform.
The killer feature that sets dexpools apart from other decentralized perpetual trading platforms is the feature that allows its users deposit tokens fiat currencies.
Vela Launch date. Vela is set to be unveiled in the next 24hrs from now. You can follow the updates on their Twitter page: @Dexpools