DeversiFi lures CEX users with Professional GAS-free Trading

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Gasless trading has arrived!

DeversiFi 2.0 is a self-custodial exchange any trader can use but carries a major difference compared to other decentralized exchange protocols. As their strapline goes, DeversiFi gives a decentralized edge for serious traders. The platform was designed with professional traders (think: algorithmic, quant, or frequent day traders) in mind. 

Defi is growing at an astronomical rate. Yet, the adoption of decentralized exchange technology (by professional traders) remains slow. One issue that has plagued the DeFi movement lately has been the need to entice these traditional traders over to decentralized exchanges. 

Despite being attracted by the benefits of self-custody and better control of their funds, these traders currently use centralized exchanges (CEX) because they are unable to sacrifice liquidity, speed, privacy, and low-fees — as DeversiFi say, the cornerstones of profitable trading. 

DeversiFi is positioned as the first DEX to appeal to this group and since launching has seen interest grow steadily. Since launch, DeversiFi has had 650 registrations, 1250 deposits, and a figure of 6m Total Value Locked.

GAS fees matter

Rising Ethereum GAS prices have been an ongoing issue affecting the successful operation and scalability of the DeFi ecosystem. Ironically the increase in GAS price is actually being caused by the DeFi sector as new crazes such as yield farming come to the fore. We have seen GAS prices rise well above $25 for simple send transactions and in the $100s for more complex un-staking functions –– something which is clearly both unsustainable and more importantly, prohibitive/off-putting for users. 

CEX customers often enjoy frictionless and free transactions so obviously trying to bring them over to a system that requires payments to perform these actions would always be difficult. 

Ethereum GAS prices have been steadily rising in 2020 with huge peaks witnessed. The increase has predominantly been driven by increased usage in DeFi and exchange related dapps.

Sweet Nectar 

Operating within the DeversiFi ecosystem is their native token Nectar. Nectar 2.0 is a deflationary utility token that gives DeversiFi traders, trading fee discounts (up to 20%), membership in the largest DEX DAO called necDAO, which currently has over 17,000 ETH pledged and as a community-led initiative, has many exciting new utilities in the roadmap ahead. Anyone can purchase NEC and become a member of necDAO, with no restrictions. 

Nectar has seen 400m of supply burned, numbers of on-chain holders rise by 100% in the last week, necDAO members surpass 120, and a rapidly growing mention-count. It has welcomed key industry players such as ParaFi Capital and D1 Ventures with large NEC purchases, not to mention other undisclosed buyers. 

A new solution 

DeversiFi 2.0 only marks the beginning of the DeversiFi Nectar ecosystem. As GAS prices continue to rise and interest in DeFi continues to grow, it could be only a matter of time before Layer 2 exchanges and dapps see significant growth in terms of new users and volume. 

DeversiFi is preparing for this and is fine-tuning its product. As of writing, the exchange has listed a flurry of new tokens, has announced 3 new job openings, added new professional order features including post-only and hidden orders, and has regularly hinted at imminent new NEC utility. 

DeversiFi is an extremely sophisticated exchange with an experienced team with a proven track record, one that is well-positioned to absorb the incoming layer 2 migration.

Find out more about Deversifi gas-free trading today!

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