The AXL DEX: Making DeFi Comfortable
Decentralized exchanges (DEX) are increasingly growing in popularity throughout the past couple of years with the advent of DeFi.
Data from DeFi Pulse reveals that there’s currently almost $100 billion in value locked across various protocols, which clearly shows the demand for products of this kind.
A platform that offers a unique set of DeFi products is the AXL DEX, which recently finalized its presale and is in anticipation of the end of the tokens’ vesting period. It’s a decentralized exchange (DEX) aiming to transform into a comfortable place for everybody. AXL DEX offers unique DeFi products that bring the true power of decentralization to finance.
AXL is the native token of the DEX. It functions in various capacities as a utility and governing token. It offers a place for users to swap tokens, create and launch liquidity pools, add and remove liquidity, stake, lend, and borrow assets. The DEX builds on these features with Smart Routing, which also helps users.
AXL And Its Features
AXL is a decentralized exchange offering users a platform to swap coins and perform other DeFi activities with ease. It combines functionality, security, and aesthetics in a simple but efficient way, and it comes with a few features worth mentioning.
- External Wallet: Users can connect their preferred external wallets to AXL. In that way, they have control over the location of their funds and retain ownership at all times. AXL’s non-custodial service allows users to explore crypto without giving up control of their funds.
- Functional DEX and Interoperability on Two Blockchains: AXL is fully compatible with coins/tokens on the Ethereum and Binance Smart Chain (BSC) networks. This allows users to swap on either or both. Users select their preferred network and perform any transaction across both chains.
- Liquidity Pool: AXL users can create and deploy liquidity pools. As a DEX, the platform leverages a smart contract protocol that grants anonymity and autonomy to pool contributors. AXL permits ERC-20 and BSC-compatible smart contracts.
- NFT Marketplace: AXL’s non-fungible token (NFT) marketplace provides a platform where users can mint, store, trade, and exchange NFTs. The low minting and transaction fees lower the barrier for new entrants to this fantastic technology.
- AXL Token: The team launched its native token, AXL. It will govern the ecosystem and function as the official token for voting and paying transaction fees. Users may also earn rewards in AXL tokens. In the future, the team will launch the AXLSAS token, which its presale would happen on the official website, NFTb, and leading crypto exchange, BitMart. It will function as the primary rewards token.
- Smart Routing: AXL Smart Routing protocol crawls the Ethereum and BSC networks to find the best prices for coins before swapping. The feature gives an advantage to AXL users as they can lower the total costs of swapping coins.
Other notable features include liquidity points and yield farming.
AXL Tokenomics
AXL has a total supply of 100 billion. Various phases of the DEX project get a share of the total supply. Its presale ended on December 28th, and users can claim only 25% of the total supply from it once the vesting period is through, which should happen in about two days.
