HODL Token Announces Launch of Its Decentralized Crypto Exchange (DEX), HODLX

San Francisco, California –

HODL Token has launched a brand new DEX and reward token. The newly launched DEX allows HODL to capture swap transaction fees and send them to its reward pool. This also allows them to offer staking and farming services to the HODL ecosystem.

A DEX, or decentralized exchange, is essentially an online platform that enables secure peer-to-peer cryptocurrency transactions without having to go through an intermediary such as a bank, broker, or payment processor. . They are a fundamental part of the promise of cryptocurrency because they give users the freedom to transact with others without being monitored by a controlling entity. A DEX differs from a centralized exchange (CEX) such as Coinbase. Since DEXs are decentralized, one cannot trade between fiat currencies (such as USD, EUR, or GBP) and a crypto token. DEX users can only trade between crypto tokens. Those looking to trade between fiat currencies and crypto tokens will still need to rely on a CEX. However, once they own crypto tokens, they can upgrade to the freedom and anonymity of using a DEX.

HODLX, the DEX of the HODL ecosystem, currently allows users to trade between HODL, HODLX, BNB (Binance Coin), an exchange-based token created and issued by the Binance cryptocurrency exchange, BUSD ( Binance USD), a wrapped or fiat stablecoin pegged to the US dollar, SOKU, the governance token for SokuSwap, a decentralized exchange that runs on the Binance smart chain and the Ethereum blockchain, and WBNB, which stands for Wrapped BNB which tracks the BEP20 standard, a standard allowing all tokens on Binance Smart Chain to be used by other applications.

The current slip tolerance offered by HODLX is 12%. When entering the number of tokens one is willing to trade, the HODLX UI tells the user the minimum amount of traded tokens they are likely to receive after the trade, the impact on the price and liquidity provider fees. Users can also connect their wallets to view their current liquidity. If they wish, they can also withdraw cash to receive tokens in return. Currently, HODLX allows users to connect to the exchange using Metamask, WalletConnect, Trust Wallet, Math Wallet, Token Pocket, Binance Chain, SafePal, Coin98, and Blocto wallets.

HODLX also allows owners of $HODL and $HODLX to farm the tokens on the DEX by staking LP tokens. An LP token is a token issued for liquidity providers on a DEX that runs on an Automated Market Maker (AMM) protocol. Currently, there are three farms provided by HODLX – the HODLX-BNB farm, the HODL-BNB farm, and the BUSD-BNB farm. At the time of writing, the three firms provide total liquidity of $64,623, $56,887 and $11,438 and report an APR of 386.57%, 386.44% and 174.72% respectively. Users can also stake unique $HODL and $HODLX tokens in pools that provide an APR of 35.7% and 116% respectively.

The website’s user interface allows users to instantly estimate their return on investment for the aforementioned farms and pools with an easy to use calculator that takes the amount of LP they are willing to stake as input as well as the period for which they are willing to bet them. (1 day, 7 days, 30 days, 1 year or 5 years) and the compounding period over which they want to calculate the return (1 day, 7 days, 14 days or 30 days). The DEX also runs the HODLX Affiliate Program which allows them to share a referral link to invite their friends and earn 1% of their friends’ earnings in HODLX.

A spokesperson for HODL Token spoke about the launch of HODLX saying, “We are extremely proud to have taken this step to help our dedicated crypto investors achieve their life goals. Our main mission, which we started with, is to make HODL a safe and stable way to generate passive income. The HODLX DEX, which was planned for the second phase of our roadmap, is now live and offers our users all the essential features they need to take advantage of HODL’s significant annual growth through reflections and BNB rewards. .

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For more information about HODL, contact the company here:

HODL
adam robert
1460 Mission St, San Francisco, CA 94103

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HODL Token Announces Launch of Its Decentralized Crypto Exchange (DEX), HODLX


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