DRK DEX - The Future of Cryptocurrency Exchange

Decentralized Exchange (DEX) has become an important standard in the Blockchain field, especially for Decentralized Finance (DeFi). The benefits of a centralized crypto exchange are undeniable, but DEX demonstrates the essence of blockchain's most important goals - decentralization, transparency, and automation. Therefore, we believe in the future adoption and popularity of DEX. Even though this concept was introduced in 2017, some DEX, in general, are still unable to solve critical problems and weaknesses that exist within them such as performance issues, liquidity, security, etc.

DRK Chain has proven its rapid development by continuously surpassing all initial expectations, in tandem with its native cryptocurrency’s growth in value in just a short period of time. Today we will present a new strategy for DRK along with the next major milestones that will pave its path to becoming a market leader in cryptocurrencies and the DeFi trend.

This article presents the essential elements of DRK DEX, thereby demonstrating solutions to today's DEX challenges.

OVERVIEW

DRK is a decentralized platform for the existing financial sectors of the Draken Group's digital banking system. The goal of DRK is to gather all the information stored in a decentralized authentic ledger and transform payment processes and financial procedures. As a result, payment would become cheaper, more convenient, and more secure with a host of automation capabilities.

It focuses on security, fast transaction efficiency, and many of the latest decentralized technologies in the decentralized finance sector to create an all-in-one platform in the Draken Group system and the global financial industry.

DRK Chain is the next generation blockchain that crystalizes all the essences of practical applications. Among DRK Chain’s features, Smart Contract 2.0 has proven one of the most useful tools. Inspired by Ethereum’s success, we believe that Smart Contract 2.0 is a major turning point that can change the perception of developers and users due to its simplicity, customizability, and security. For example, the ability to create DRC-99 Tokens is simplified with just a few interactions that are totally doable to all users, while not compromising the strengths of cryptographic tokens such as transaction speed, cheap gas fee, security, etc.

Besides, one must not forget that the value of a native cryptocurrency or token is best backed by its applications and business plans. The cryptocurrency community is flooded with tokens that have zero real value, are adopted into no real product nor incorporated into any real business operation. Again, we want to reiterate the success of DRK Coin, which engenders a new generation of Blockchain applications put into action on the main net right from day one.

Combining the above factors, we are excited to announce the launch of Draken DEX Cross-chain Token (DRD) and DrakenX Token (DRX) — a milestone for DRK Chain that has been meticulously prepared for months.

PERFORMANCE

Trading performance, more specifically the speed and frequency of transactions, especially for exchanges that need to process up to thousands of transactions every second, is currently a challenge for DEX.

The way DRK DEX solved the problem was inherent from the very beginning when we successfully launched the DRK Chain Mainnet. With the power of high-performance blockchains like DRK Chain, transaction speeds up to 5000TPS, the good expansion will result in more effective trading.

USER EXPERIENCE

Most users take a certain amount of time to understand or are given specific instructions for using DEX. This is partly because DEX is an entirely new standard for exchanges, unlike how centralized exchanges have operated.

DRK DEX focuses entirely on how users to trade, thus optimizing the simplicity of using visualization. Users will have a smooth and concise experience simply by linking their Metamask wallets and starting trading without having to switch between networks. The user interface is minimized but still ensures full functionality required to carry out transactions.

CROSS-CHAIN

Most of the DEXs currently operate on the Ethereum Network, so in an ongoing situation, only tokens that are on the platform can be listed. If DEX is determined to be the future of world finance or in particular, the cryptocurrency market, DEX desperately needs links from today's popular blockchain to optimize trading pairs and user communities.

DRK DEX developed a separate protocol that allows interoperability with other blockchains. We call this a "bridge", which allows the DRK Chain to communicate with other blockchains while maintaining key DEX elements. In an upcoming version that will be released soon, a "bridge" will be operated between the DRK Chain and the Ethereum network. This mechanism allows Wrapped-ETH (and Wrapped-BTC in the near future) transactions to be fully automated with an unlimited number of times while exuding the need for user impact.

EXCHANGE FEE

For cryptocurrency exchanges, transaction fees are the most important factor and determine the interest of their users. The latest DEX uses the currency of the Blockchain representative as a transaction fee. For example, IDEX will use ETH as the transaction fee currency. This results in insufficient users. What if you only have DRK and not ETH?

DRK DEX prioritizes user interests. Therefore, transaction costs will be minimized at a cost sufficient to maintain our system. It can be said that our transaction fees are almost the lowest compared to today's popular exchanges. In particular, users only pay exchange fees for the type of coin being traded.

SECURITY

Exchange security is generally considered the most important factor. On centralized exchanges, we have witnessed many cyber attacks that have resulted in hundreds of millions of dollars in losses. The most recent incident was the collapse of Canadian crypto exchange QuadrigaCX along with a series of doubts about its closure, or a series of attacks that took place in the past with Mt. Gox, Upbit, etc.

From that situation, DEX received more responses and requests from users for higher security than the decentralized characteristics of Blockchain. DRK DEX is built on the DRK Chain with the same ideals. The only potential danger comes from users actively managing their own Metamask account and private keys.

PURPOSE

DRK started with the goal of becoming a high-performance blockchain platform for DeFi. For this reason, DRK DEX is one of DRK's strategic DeFi products to create a thriving ecosystem in the future.

DRK Decentralized Exchange Token

Token name: Draken Dex Crosschain
Symbol: DRD
Total supply: 200,000,000 (two hundred million)

DRD Token represents the DRK DEX at www.draken.exchange.

DrakenX Token
Token name: DrakenX
Symbol: DRX
Total supply: 100,000,000,000 (a hundred billion)

DRX Token represents the DrakenX Platform at www.drakenx.io.

FEATURES OF DRK DEX

Preserving simplification in the operation and user experience, yet the complexity in the underlying technologies is the guideline for DRK team when building DeFi products on DRK Chain. Let’s take a look at some of the features of DRK DEX:

DRK DEX operates entirely on DRK Smart contract without any human intervention in the user’s transaction process.
Transaction speed, user operation is guaranteed with the exchange’s ability to process transactions corresponding to the performance of DRK Chain.
Link Metamask accounts and starts trading without any further action required.
Cross-chain ensures the ability to link and process transactions between many different blockchains.
0.1% transaction fee and anti-spam mechanism, charging 10DRK or 0.0001ETH for each order made.
Automatic deposit/withdrawal takes place on smart contracts, removing the need for human censorship.

Official Resources

WEBSITE: https://draken.tech/

WHITEPAPER: https://drive.google.com/file/d/1mHtV50CktdFCyD_NaH370sZ8sOBehgce/view

TELEGRAM : https://https//t.me/Drakentech

FACEBOOK : https://www.facebook.com/DRKDEX

TWITER: https://twitter.com/DRKDeFi

DRAKEN DEX : https://draken.exchange/

DRAKEN ENTERTAINMENT: https://www.drakenx.io/play

STAKING PLATFORM : https://staking.draken.tech/

DRAKEN BLOCKCHAIN : https://explorer.draken.tech

Authorship:

Bitcointalk username : soenan