A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers.
In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform. In the absence of a central authority, DEXs employ smart contracts that self-execute under a set of conditions and record each transaction to the blockchain. These trustless, secure transactions represent an accelerating segment of the digital asset market, and are pioneering new financial products.
Metal X uses order books to compile a record of all open buy and sell orders for a particular asset. The spread between these prices determines the depth of the order book and the prevailing market price. The orders information is held on-chain during trades, while user funds remain off-chain in user wallet.
Why Metal X?
Metal X allows users to trade all available cryptos on the exchange and offers what most of the CEX's offer nowadays - Orderbook, different types of orders (Limit order, Market order, Stop loss order, Take profit order) and trading view chart integration. The DEX also allows users to manage their orders - view or cancel active orders as well as view order history.
The XPR Network offers no gas fees to users, this combined with the secure DeFi wallet Webauth, offers the best decentralized trading experience!
Learn more about the XPR Network and Metal X ecosystem in our overview.