Cutting out the middleman of centralized exchanges, Proton DEX provides DeFi users with enhanced digital asset trading capabilities in a non-custodial environment
SAN FRANCISCO–(BUSINESS WIRE)–Metallicus, a leader in digital asset and blockchain technologies, today announced the launch of its Proton decentralized exchange (DEX), a peer-to-peer marketplace that connects cryptocurrency buyers and sellers with each other while simultaneously ensuring that users remain in control of their digital assets and private keys. This announcement marks an important shift in the cryptocurrency landscape, particularly following the collapse of FTX.com, as users actively seek methods to safely trade assets without the usage of intermediaries. Proton DEX effectively removes the middleman risk posed by both centralized exchanges (CEX) and lending platforms.
“Proton DEX puts true decentralization into DeFi,” said Marshall Hayner, Founder and CEO of Metallicus. “You are in control of your cryptocurrency at all times, which eliminates the threat that a middleman could withhold funds from you. You have to ask yourself why you would ever trade on a centralized exchange again when there is a fully decentralized next-gen spot exchange with zero gas fees and decentralized identity verification.”
By constructing this DEX on the Proton blockchain, users will have access to a ledger that can conduct over 4,000 trades per second, while using an extremely low amount of energy that ensures the future of DeFi is environmentally sustainable. This allows customers to remain in complete control of their coins with access to their private keys while simultaneously having access to the power of a centralized exchange.
In addition to utilizing self-executing smart contracts to remove the custodial feature of centralized exchanges, Proton DEX users will be able to access a host of features that are tied to Metallicus’ WebAuth.com crypto wallet, which uses secure FIDO-based web authentication.
Some of these features include:
- Spot Trading – Limit Orders, Market Orders, Stop Loss, Take Profit
- DeFi Lending/Borrowing
- Yield Farming
- Integration of all major cryptocurrencies
- OTC Trading
- No Gas Fees
- 0.5-second, instantaneous blockchain transactions
“Creating a better and safer system that customers and regulators can trust is paramount as crypto and Web3 increasingly interact with regulated finance,” Marshall continued. “The on-chain transparency, security, and verified identity enabled by Proton DEX furthers Metallicus’ commitment to a world where digital assets and DeFi meld seamlessly with other financial services.”
Proton DEX will launch with a decentralized stablecoin index, Metal Dollar or $XMD, which runs on the Proton Blockchain and will become available on more chains soon. Metal Dollar ($XMD) is the world’s first basket of non-algorithmic industry established bank reserve backed stablecoins, is powered by a smart contract on the Proton blockchain and will be governed by the Metal DAO ($MTL).
Currently the stablecoin basket consists of USDC, BUSDC, TUSD, USDP, all reserve backed stablecoins. Proton DEX users will be able to mint XMD for the Proton DEX at metaldollar.com.
Built to interact smoothly with Web3 and regulated finance, Proton DEX furthers Metallicus’ commitment to its overarching goal of providing users with trusted, secure, and seamless tools that enable digital transactions on a daily basis.
About Protondex.com
For the launch of Proton DEX, Metallicus has migrated all dApps on protonswap.com to the new home of trading on Proton Blockchain, protondex.com, which possesses an easy-to-remember URL.
Proton DEX is truly a one-stop shop for everything customers could possibly need for crypto trading on Proton Blockchain. Whether users are looking to instantly swap tokens without gas fees, add to liquidity pools and farms to earn rewards, or simply earn a variable APY on their USDC balances in Proton Loan, protondex.com has them covered.
About Metallicus
Founded in 2016 in San Francisco, Metallicus believes that strong regulation, security, identity, and a simple customer experience are essential for integrating and scaling uses of digital assets and cryptocurrencies into financial services and economic activities. Metallicus builds compliant and secure technologies where banking, payroll and other financial and economic activities meld seamlessly with the world of cryptocurrencies, blockchain, DeFi and Web3. The company’s flagship products include the mobile apps Metal Pay and WebAuth as well as the Proton Blockchain, the only blockchain with Verified Decentralized Identity. Learn more at www.metallicus.com.
Contacts
Metallicus Marketing Contact
Will Cleaver
will@metallicus.com
