Introducing DMAX Finance
The forex industry represents the single-largest global asset exchange market, having an average daily trading volume of $6.6 trillion as per the records of the Bank for International Settlements. Forex is currently traded on an over-the-counter network of traders, banks, brokers, and market makers. It is this international web that helps to make forex a 24-hour market, with different trading sessions opening and closing simultaneously around the world. However, there are some problems with the way that the forex market works as follow:
1. Long settlement times
It takes up to two days for the existing infrastructure to settle your trades. Most of the brokers function with a standard settlement period of T+2 days. Not only does it block a trader’s capital, but it makes it difficult for individual traders to track back-to-back transactions, especially reversals.
2. Fragmented infrastructure
Despite being the world’s largest exchange market, in terms of trading volume, the forex industry has a fragmented infrastructure. In order to process a single transaction, multiple parties must work together, creating
multiple instances of the same data across different databases. Furthermore, it adds to the overall transaction settlement time.
3. High transaction fees
The involvement of multiple parties in trade settlement inflates the overall cost of a transaction. Having a reliable single party or group handle all of
these processes will cut transaction charges considerably.
4. High systemic risk
The forex market has multiple systemic risks, including volatility, leverage, liquidity, and even counterparty risks. In their present form, forex markets offer little protection to the traders, especially new traders who could end up losing significant sums.
DMAX DeFo comes as the solution with blockchain technology which eliminates the intermediaries when transacting forex. There is no actor in the middle that makes running transactions faster, cheaper, efficient, and safe.
The Advantages of DMAX DEFO:
- On-Chain Solution
DMAX DEFO comes as solution for the pain-points of traditional Forex Trading System by harnessing the power of Binance Smart Chain-Blockchain Technology with low network transaction fees and faster execution. - DeFI AMM-DEX
DMAX DEFO is a Decentralized Finance (DeFi) Application that runs on BSC protocol and categorized as AMM DEX (Automated Market Maker — Decentralized Exchange) Application. - Decentralized Infrastructure
Unlike traditional Forex Trading Systems that are Centralized and run on a Forex Company’s Server, AMM DEX runs on multiple nodes joined in BSC Blockchain Network. - Decentralized Forex
Because this system is only focused on Fiat-backed Stablecoin Swaps (USDC, EURS, TGBP, JPYC, and XCHF) for Forex trading purposes, so we call it DMAX Decentralized Forex (DeFo).
DMAX DEFO Main Features:
- Get Passive Income by Providing Liquidity
Provide Liquidity for a pool/pair of your choice, you’ll get Liquidity Pool (LP) Tokens and 0.25% swap fee every time a user swaps in the pool and 0.05% more swap fee when you stake DMAX token. Liquidity Providers can “farm” DMAX token as rewards by staking LP Tokens they earn from Liquidity Mining. With Staking LP Token, they cannot exit Liquidity Mining because the LP Token that represent their Liquidity Mining is now owned and locked by the system.
As an incentive for this staking participation, 1 DMAX as reward will be added to your wallet every second! - Stablecoin Saving & Time Deposit
Get up to 100% APY (Annual Percentage Yield) in DMAX tokens by locking your Stablecoins to Secure Smart Contract on Binance Smart Chain. LP Tokens staked in Yield Farming are withdrawable at any time. To get bigger rewards per second, Liquidity Provider can choose Yield-farming with timelock options that work almost the same with time deposit in Bank. - Exchange Fiat Money via Stablecoin
We limit the pool to only stablecoin pairs and BNB coin pairs to reduce losses caused by price fluctuations between coins. DMAX DEFO allows Users to swap between the most widely used fiat-backed Stablecoins instantly. Supported Stablecoins that are available on Binance Smart Chain and have been bridged in from Ethereum Network they are USDC, TGBP, EURS, JPYC, XCHF, and more stablecoins are coming soon - Stable Return from DMAX Saving
Once Liquidity Providers earn passive income from Swap Fees, Savings, or Time Deposits, their passive income doesn’t stop there, they can also stake/save their DMAX tokens to earn USDF Stablecoin. USDF is an Algorithmic Stablecoin with elastic supply which expanded and contracted in response to market conditions, targeting 1 USDC per USDF. - Token Bridge
When the user already has a certain amount of USDC/ TGBP/ EURS/ JPYC/ XCHF on the Ethereum Network Chain, he can bridge the Stablecoins to the Binance Smart Chain network, so that the Stablecoins can be recognized in the DMAX DEFO App. When he is done Swap/ Pool/ Staking on the DMAX DEFO App and needs to use the stablecoins on Ethereum, he can bridge them back from the Binance Smart Chain to the Ethereum Network.
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Website: https://dmax.finance/
Twitter: https://twitter.com/dmaxdefo
Telegram: https://t.me/dmaxfinance
