Metallicus, the start-up building the world's most customer oriented digital asset using blockchain technology has launched a $DOGE Decentralized Exchange called SuchDex
Powered by Proton Blockchain, SuchDex is a secure, self-custody trading platform where 50% of the trading fees are directly going back to the non-profit Doge Foundation to support open source development, trademark defense, and advocacy.
SuchDex platform allows users to trade all available cryptos on the exchange and offers what most of the centralized exchanges offer: orderbook, different types of orders (Limit order, Market order, Stop loss order, Take profit order) and trading view chart. SuchDEX also allows users to manage their orders - view or cancel active orders as well as view order history.
For the beta launch, SuchDex is offering only one pair (xDOGE/XMT), where XMT (aka Metal Dollar) is a stablecoin minted from a basket of reserve-backed stablecoins (PAX, USDC, USDT, TUSD). 1 XMD is equivalent to $1 USD and you can seamlessly convert any of the stablecoins in the basket at a 1:1 ratio.
Since SuchDEX runs on the Proton Blockchain, the first step to use it is to create a Free Proton account, which can be done on the WebAuth wallet that is available on Android, iOS and Web. Proton charges no gas fee to end-users. Transactions are Free.
The platform also requires that users verify their identity in order to reduce the risk of fraud and money laundering.
The SuchDex project is a great initiative on how blockchain communities can work together. Here we see how the Doge community and the Proton community are leveraging their unique selling propositions to offer to their communities a great product.
Congratulations to Metallicus and the Dogecoin Foundation.