Kelvin and a small number of other, innovative startups are paving the way for widespread, decentralized exchange adoption but now, our efforts are getting a much-needed boost from Coinbase. The U.S. based crypto exchange recently acquired Paradex in an effort to boost DEX crypto trading to users outside the U.S. As a result, decentralized exchange technology will likely enter a large boom period in the months to come.
COINBASE, PARADOX AND THE FUTURE OF DEX
Coinbase took a huge step in acquiring Paradex. A move that will put them at the forefront of the DEX revolution. For those that are not familiar with Paradex, it has many qualities similar to Kelvin. For one, Paradex is a peer-to-peer (P2P) ERC 20 DEX service that utilizes the 0x protocol. Hence, it offers users the ability to trade cryptos right from their wallets instead of using centralized services like Binance, Coinbase, etc. This gives users full rights over their tokens and fiat balance.
PARADEX DEX HAPPY TO JOIN COINBASE
According to Paradex, they are more than excited to be apart of Coinbase’s evergrowing crypto family. In an official statement, they stated that “it was clear from our first conversations with Coinbase, that the excitement and optimism was mutual.” With additional support and funding now on their side, Paradex can work faster to bringing DEX technology to the mainstream. Some competitors might see this as bad news but in fact, it’s actually beneficial to the entire ecosystem.
COINBASE DEX PAVES THE WAY FOR FUTURE STARTUPS
While the Kelvin DEX is still in its early stages of innovation, news like this is welcoming. The sooner people adopt the DEX technology, the better it is for everyone involved. Kelvin is working on new innovations that will set this exchange apart from the rest out there. By the time these new features are ready, an informed and loyal community of DEX users will already exist. Thanks to the work of Coinbase and Paradex. As the market turns its head in the direction of a bullish run, the coming months of crypto will be exciting ones indeed.