Poloniex launches a decentralized exchange based on the TRON blockchain
The cryptocurrency exchange Poloniex this Wednesday reported on the completion of the transaction to acquire the startup TRXMarket, the infrastructure of which will form the basis of its new decentralized exchange Poloni DEX.
Previously, Poloniex was sold by its former owner, Circle, to a consortium of Asian investors, one of whose key members is the founder of the TRON blockchain project Justin Sun. TRXMarket is known as the developer of the decentralized exchange based on the TRON blockchain.
All TRXMarket functions will be borrowed from the new DEX Poloniex. Poloniex users will be able to directly access decentralized trading services through the exchange’s main website. They will also be presented on the dedicated portal poloniex.org.
According to the Poloniex blog post, TRXMarket’s trading volume in the last seven days was $ 30 million, while CoinMarketCap only displays a daily value of $ 38,000..
Poloniex says it has acquired TRXMarket in order to enhance decentralized exchange and offer diversification for its users, which it has been working on since 2018.
“After many stages of intensive study, the Poloniex technical team opted for TRXMarket. TRXMarket is the first TRON-based decentralized exchange and uses TRX smart contracts to complete all transactions. Since TRXMarket does not require private keys for transactions, users’ assets remain isolated from the exchange, ”the company writes..
“We recognize and appreciate the speed at which the TRON ecosystem is expanding,” said a spokesperson for Poloniex. – It is difficult to imagine all the achievements that TRON managed to achieve in just one year. I think we have every reason to choose TRON as a basic infrastructure over other public chains, the development of which is slow and the commissions are exorbitant. We must be accountable to our users “.