Waves DEX reincarnates as a hybrid cryptocurrency exchange

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  • Waves DEX has been transformed into a cryptocurrency trading platform.
  • The developers will no longer be responsible for exchange management and support.

The decentralized cryptocurrency exchange Waves exchange stopped operations and reopened as a hybrid cryptocurrency platform on the new domain. The migration from Waves DEX to the new Waves.Exchange platform started on Monday, December 2 at 07:00 GMT and has now been “successfully completed”.

The transition to the new platform was announced in early November. Users can find detailed information about the migration process in the official blog of the exchange. According to the company, the new trading platform combines the irreversibility of transactions inherent to decentralized exchanges, security and user control over funds, as well as the properties of centralized trading platforms.

Waves representatives also added that the core developers team will focus on the protocol, which includes both open and private implementations, as well as sharding and infrastructure development. Marketing and support will be performed separate structure.

According to Waves CEO Alexander Ivanov, Waves DEX was a prototype. However, now that it became large enough, it is time to transfer the management to a dedicated team and focus on protocol development. 

In the future, Waves.Exchange plans to launch a partner program and a market-maker program, add Tether (USDT) support, and create new tools to generate passive income. The latter suggests, among other things, lo risk staking of stablecoins. 
 

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