What is PolkaEX (PKEX) | What is PolkaEX token | What is PKEX token
In this article, we’ll discuss information about the PolkaEX project and PKEX token
PolkaEX is a cross-chain trade platform based on Polkadot, using Plasm Network to provide higher TPS, lower transaction cost, smooth trade protocol. PolkaEX not only a decentralized exchange, but also an integrated trading platform with many functions, such as Polkaex Launchpad, and more in the future. Providing a one-stop asset trading platform.
With the rapid development of Polkadot’s ecosystem, more and more projects on Ethereum begin to move to Polkadot, such as ChianLink, 1Inch, Ocean Protocol, etc. The parachain slots auction has not yet started, and there are 388 projects ready to build para chains on Polkadot. So for the foreseeable future, the Polkadot ecosystem will get bigger and bigger. The blockchain future will be a multi-chain world, where tokens on multi-chains will need to interact on different chains, which requires interoperability. Decentralized exchanges need to solve the problem of fast confirmation and low fees if they are to become widespread. Therefore, there is a need for Layer 2 solution.
What is Plasm Network and Why Polkadot and PolkaEX need Plasm Network?
Plasm Network is a scalable smart contract platform on Polkadot supporting cutting edge layer 2 solutions. It is built on Substrate and designed to be a Polkadot Parachain. Plasm Network aims to make Ethereum 2.0 on Polkadot.
Plasm Network focuses on making the best smart contract platform so that dApps developers on Polkadot do not need to pay much attention to infrastructure and can focus more on their dApp. Ideally, the developers can build whatever applications on Plasm Network without having to consider its scalability. Plasm Network solves prominent issues: scalability and interoperability.
Scalability
Blockchains do not scale by design because of the decentralized consensus mechanism. TPS (Transaction Per Second) is much smaller than a centralized database, and there is an upper limit of data that can be stored in every block. Therefore, users across the network may notice their transactions sit unconfirmed or pending for long periods of time, creating a poor user experience.
Scalability on the Plasm Network is addressing the followings topics:
- More Transaction Per Second (TPS)
- Cheaper transaction cost
- Faster finality
Interoperability
Many different blockchains exist, but few have interoperability as a feature. To move “value” from Bitcoin to Ethereum, we need a centralized exchange. Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.
Plasm Network is compatible with Polkadot. By connecting Plasm Network to Polkadot, PolkaEX will have true interoperability.
What will PolkaEX decentralized exchange will be?
Cross-chain token pools liquidity：enabling users to trade tokens from different chains pool.
Layer 2： solution plasm network brings PolkaEX low transaction fee and fast confirmation.
Launchpad:
one-stop asset trading platform:PolkaEX will provide more functions to users like farm, lend, etc.
Launchpad
PolkaEX Launchpad built for cross-chain token pools helps blockchain projects to raise funds on a decentralized and interoperable platform based on Polkadot.
How PolkaEX Launchpad Works for Users？
Here’s a step-by-step guide on how to participate in token offerings by projects on PolkaEX Launchpad.
Go to the PolkaEX Launchpad website to see the projects we have lined up.
- Connect your wallet.
- Click the project page and study the details. As with any activity of this nature, do your own research.
- Once you’ve decided to take part in the token sale, click the “Participate” button to buy the token.
- Waiting for listing
Apply for IDO
Interested projects should submit an application. Each application is submitted for a thorough and rigorous review during the due diligence process and then evaluated based on objective merits. A member of the PolkaEX review team will contact you with further instructions.
Why we chose to join Polkadot built PolkaEX?
1. Limitless Scalability — Polkadot can support an infinite number of blockchains and allow them to connect together. These are known as para-chains.
2.** Adaptable Consensus Mechanism** — As different blockchains run on different consensus mechanisms, the Polkadot platform provides an open and adaptable consensus mechanism to host them.
3. Cross-Chain Transactions — The framework can support the transfer of value between different blockchains. It’s necessary for interoperability and true integration.
4.** Defined Governance Mechanism** — It has a defined governance mechanism, which eliminates a major problem faced by other blockchains.
5.** Upgradeability** — Polkadot can support upgrades, without having to resort to drastic hard forks to implement change.
6. Pooled Security — The blockchains connecting with Polkadot can be secured by a unifying security umbrella. This can help protect small chains that don’t have effective security bootstrapping.
7. Low transaction fees– Polkadot claims it has lower transaction fees compared to Ethereum.
8.Substrate- In order to efficiently build many different blockchains, the Parity developers put all the functions needed to build blockchains into a framework called Substrate. The idea is to take everything you’ve learned in the development of Ethereum and Bitcoin and make it as easy and easy as possible to create a blockchain. Substrate was created in a modular way to provide technical freedom, but also to make functions such as accounts, balances, governance, and smart contracts as easy as plugging in a library.
9.Developer flexibility: Parity Technologies’ Substrate modular framework allows developers to select specific components that suit their application-specific chain best.
10.Shared security model for parachains: Polkadot allows developers to launch chains and applications leveraging a shared security model, without having to worry about attracting enough miners or validators to secure their own chains.
11.Sizable warchest to attract projects and developers: Polkadot has raised nearly $200 million dollars since 2017 allowing the project to attract top talent and marketing.
Projects Built On Polkadot
The Polkadot ecosystem has an enormous outreach and usage. There are currently 383 projects building on Polkadot，according to the polkaproject.com website. This includes crypto-projects related to DeFi, cryptocurrency wallets, infrastructure projects, tokens, Oracle, DAO, privacy, exchange, gaming, IoT, scaling, etc.
A few well-known projects being built on the Polkadot protocol are Chainlink, Ankr, Celer Network, Akropolis, Ocean Protocol, 0x Protocol, imToken, etc.
Use case of PKEX token
- Farm- 15 million PKEX will be mined by liquidity mining
- Revenue share — The PolkaEX takes a 0.3% fee on each trade; 0.3% goes to liquidity providers.
- Governance — PKEX holders can use their tokens to vote on governance proposals regarding changes and upgrades to the protocol.
How and Where to Buy PolkaEX (PKEX)?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
After the deposit is confirmed you may then purchase PKEX from the exchange: Uniswap (v2)
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once PKEX gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information PKEX
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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you
⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
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