With the advent of various digital currencies, the need for a trusted exchange platform is growing stronger, and this is exactly where LQDEX steps in. LQDEX aims to provide the crypto world with a trustless decentralized exchange platform for digital assets. In order to get to know about the major features of the platform so that a normal crypto user is better able to understand, BlockPublisher got in touch with Yogesh Srihari, the co-founder and chief executive officer of LQDEX.
The three answers given by Yogesh listed below give one a clear gist of what the platform is and what it is aiming to become.
1- What is LQDEX’s long-term vision?
The long-term vision for LQDEX is to be able to trade all kinds of assets, both blockchain-based and non-blockchain-based. We want to be able to trade securities vs. cryptocurrencies. For example, Facebook stock vs. BTC.
2- How is your token different than the rest?
The LQDEX token has dual functionality, described below:
- Behaves as a staking token to secure the network.
- Acts as a collateral token.
3- What utilities are offered by it to a user?
Users that stake the LQDEX token will be rewarded with fees based on the amount they stake, length of staking time, and a number other parameters. Users trading on the LQDEX exchange could potentially benefit from lower fees by holding LQDEX tokens. LQDEX tokens may also be held for value as the demand for the network increases.
As so many cryptos are seen floating around these days, LQDEX aims to bridge the gap between each of them so that smooth exchange can take place in a secure ecosystem. It provides a decentralized, trustless and transparent ecosystem for this purpose. The cross-chain functionality offered by the platform also makes it stand out. Being blockchain-based, the intervention of any third party in the network is eliminated out from the scene completely.
LQDEX employs the Proof-of-Stake (PoS) algorithm at its core and has its own blockchain dedicated for this purpose. The platform itself runs as a dApp on this blockchain. The characteristics associated with the blockchain technology such as immutability, auditability, transparency etc. are thus automatically inherited into the platform.
The LQDEX project started in January 2018 and aims to get launched by January 2019. The long-term vision that LQDEX is pursuing looks quite promising. It aims to become a platform where trading of all kinds of assets is made possible, whether they are blockchain-based or not. This makes LQDEX one project to look out for in the long run as we move forward in time with the crypto market saturation gaining its peak.