9/25/2023 0 Comments Airtable funding rounds![]() Instead of matching buyers and sellers, DEXs allow traders to exchange one type of asset for another by interacting with a pool of liquidity. It allows for types of orders not possible on a DEX, which are ideal for institutional traders because it lets them better manage their positions under different market conditions and minimize slippage, the different trade execution price than intended.ĭEXs such as Uniswap, on the other hand, operate on a completely different principle. One of these is an orderbook.Īn orderbook, as in a traditional stock market, matches buyers and sellers based on price and quantity. That’s a mouthful of crypto jargon - the takeaway is that Brine has found a way to provide the benefits of CEX that aren’t normally available in DEX. Moreover, high volume traders and institutions don’t need to worry about front-running attacks anymore as we provide complete privacy on orders by using zkP (Zero Knowledge Proofs) technology which is backed by Starkware.” Orderbook and zero knowledge “Keeping all these points in mind, we’ve built Brine Fi to let traders experience the best of both worlds, get access to the merits of a DEX and a CEX at the same place. ![]() All things that can impact profit margins and substantially increase the uncertainty of specific trades,” said Shaaran Lakshminarayanan, Brine Fi co-founder, in a written response to TechCrunch. ![]() “While they are the safest way to trade, many traders opted for a CEX to counter higher trading fees on DEXs, price slippage, transaction fees ($5-$25 per transaction), liquidity issues, the absence of an orderbook, transaction delays and an inability to provide privacy on orders causing front-running attacks. ![]() Traders might choose DEX not just for full custody over their assets but for privacy - CEXs are normally required to undergo know-your-customer or KYC with local regulators, whereas regulations around DEXs are still largely undefined due to the lack of a central party. The DEX, of which “mainnet,” or its fully operational network, launched merely weeks ago and has already accumulated $500 million in trading volume, according to stats from Starkware, the Ethereum scaling solution that powers Brine.ĭEXs, as the name implies, carry out transactions purely on blockchains, a contrast to centralized exchanges (CEXs) that include consumer household names like FTX, Binance and Coinbase, which Brine sees as its closest competitors. This explains why some decentralized crypto exchanges (DEXs) like Brine Fi are getting investor interest even as VCs across the board continue to keep off the digital asset industry.īrine is announcing a $16.5 million Series A at a post-money valuation of $100 million as investors appear bullish about the new orderbook-based decentralized exchange. After the collapse of FTX, crypto traders have been looking for decentralized, non-custodial and safer ways to execute orders and store their assets. ![]()
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