IDEX decentralized cryptocurrency exchange users doubled from March to April as the broader project it is associated with takes shape – Aurora DAO offers banking functions by integrating other decentralized applications for investment diversity, loans and a stable currency.

Aurora DAO

The project only finished it’s ICO token sale in January 2018. It is built on the Ethereum Blockchain as a constantly innovating financial network to create stability through the Boreal currency.

The greater goal is provide banking access to anyone regardless of geographic location or status. The platform brings together the benefits of existing decentralized projects to create greater benefits, rather than compete with the technology.

IDEX – A recent decentralized exchange list put IDEX at the top. This was the first project designed by the founders of Aurora DAO, and is rapidly growing.

SnowGlobe – a sidechain protocol to connect any EVM (Ethereum Virtual Machine) compatible exchanges. This increases liquidity and accessibility for users.

Join the Chat Discord

AURA Token – IDEX and Snowglobe are both secured by staking the AURA token. Stake holders are rewarded through transaction fees on IDEX, DC Capital, and any other future Aurora products.

DC Captial – banking function to provide loans of Boreal based on integrated credit ratings from existing orgnaizations like Bloom (credit rating on the blockchain) and uPort (identity on the blockchain).

Boreal – a stable currency created by balancing Ether reserves, debt from loans and dapp endorsement. The organizations guarantees buy-back through IDEX.

Decentralized Exchanges

The importance of decentralized exchanges is in the user maintaining control of their cryptocurrencies, but it also keeps the door open for small startups to gain exposure and monetary support. Centralized exchanges like Binance charge huge fees to be listed on their exchange.

Other DEX options – Waves, BitShares, AirSwap (EVM), CryptoBridge (EVM), Switcheo (NEO blockchain), EOSfinex (EOS blockchain)

Growth Potential

The success of this project is strongly linked with the continued growth of Ethereum, but is not limited to it. They are building a foundation made to adapt and grow with the technology.

As global stock exchanges, major financial institutions and credit card companies enter the space, the platforms that survive will have to provide major benefits to keep users around. Whether or not decentralized platforms gain mass adoption will depend on the public’s percent of how valuable that quality truly is.

If you use Facebook you should follow our Facebook to never miss any news again

Cryptocurrency Exchanges