Dexalot Launches First Central Limit Order Book Subnet on Avalanche with $1M+ in Incentives

Avalanche

Dexalot, a decentralized cryptocurrency exchange has launched on an Avalanche Subnet, marking a new milestone in the evolution of decentralized trading protocols.

The Dexalot Subnet aims to replicate the user experience of a centralized exchange (CEX) without compromising on decentralization and transparency. Its team has spent months building and refining its application using the Avalanche Fuji test network to deliver an on-chain central limit order book (CLOB) with low transaction fees, fast transaction finality, and support across spot trading pairs.

The Subnet is a key pillar of Dexalot’s dual-chain application. Traders deposit and withdraw assets through the Dexalot application on the Avalanche C-Chain, and then trade on the Dexalot Subnet. Communication between the Mainnet and Subnet occurs through generic message passing using high-end cross-chain communication protocols, like LayerZero. This enables traders to trade with confidence — without surrendering custody of their assets — and may reduce slippage in trade execution.

“By utilizing both the [deposit] chain and [trading] chain, we have optimized Dexalot for speed, safety and above all, experience,” says Co-Founder and CTO Cengiz Dincoglu. “We are looking forward to introducing DeFi traders to the Subnet on the Avalanche network, and to further differentiating our platform from other centralized and decentralized exchanges in the market.”

According to the Dexalot team, its unique design “establishes a base for expanding to other host chains to further DeFi mass adoption.” The innovative Subnet implementation is said to represent a foundation for multiple ecosystem interoperabilities to be created on top of, and around, Dexalot’s Subnet deployment.

As well as launching its long-awaited Subnet, Dexalot has confirmed that it will commence a new Incentive Program. The Dexalot Incentive Program (DIP) will give active traders up to 4.8 million $ALOT tokens over the coming months. To be eligible for rewards, users would have connect their wallet, deposit tokens such as ALOT, AVAX, BTC.b, WETH.e, USDC, USDT, and start trading.

In celebration of the Subnet launch, Dexalot is conducting a campaign, #Trade2theSubnet, to engage and educate its growing community of validators, delegators and traders.

DeFi traders can now take their decentralized trading to the next level.

Start trading now: https://app.dexalot.com/

This post is based on materials provided by Dexalot. For more information, visit Dexalot’s website.

Provided for informational purposes only, without representation, warranty or guarantee of any kind. None of this is as an endorsement by the Avalanche Foundation Limited, Ava Labs, Inc. or any of their respective subsidiaries or affiliates, nor is any of this investment or financial advice. Please review this Notice and conduct your own research to properly evaluate the risks and benefits of any project.

About Dexalot

Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. The Avalanche-powered DEX represents an inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk.

About Avalanche

Avalanche is a smart contracts platform built to scale infinitely and finalize transactions in under a second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable businesses to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for both Web3 devs and businesses.