GlobianceDEX is the first decentralized exchange built on the leading XDC (XinFin) blockchain. Developed as an Automated-market-maker (AMM) on XDC, where a collection of smart contracts are used to create liquidity pools, provide liquidity, and swap XRC-20 tokens.
GlobianceDEX offers incentives and rewards to all players as well as effective speediness, reduced costs, and enhanced performance.
A decentralized exchange, also known as DEX, is a cryptocurrency exchange that offers peer-to-peer solutions where transactions can take place online and with no intermediaries. DEXs are crypto marketplaces where people can trade assets with no custodian, third parties that manage funds on behalf of one of the parts, or authority that supervises and authorizes trades. Transactions are conducted with smart contracts.
HOW DOES A DECENTRALIZED EXCHANGE WORK?
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Decentralized exchanges work with smart contracts, self-executing programs that respond to predetermined conditions. Smart contracts allow transactions to be executed if coded pre-conditions are met and without the need of any supervisory authority.
DEXs are developed on blockchain networks where smart contracts take place, and users use them to keep custody of their assets. GlobianceDEX is a type of decentralized exchange called Automated Market Maker (AMM).
AMMs rely on smart contracts to provide liquidity based on liquidity pools. These pools are funded by third-party users who get rewards and fees in exchange. A DEX is ranked higher when it has more funds locked in smart contracts.
WHAT IS THE DIFFERENCE BETWEEN CENTRALIZED AND DECENTRALIZED EXCHANGES?
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There will always be higher fees associated with centralized exchanges, and because of the middlemen and supervision required, transactions would take longer. In contrast, decentralized exchanges, or DEXs, work with smart contracts that approve or deny transactions automatically without the need for intermediaries. As a result, trades are quicker, cheaper, and more efficient.
Liquidity
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HOW DOES GlobianceDEX WORK?
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GlobianceDEX is an Automated Market Maker (AMM) that works on the XDC blockchain. The exchange relies on smart contracts that create liquidity pools, provide liquidity trading, and swap XRC-20 tokens.
The XDC ecosystem is a blockchain platform of 3rd generation. It allows over 2,000 transactions per second that take around 2 seconds for confirmations. With an average fee of 0.0001 USD, and its energy consumption of 0.0000074 TWh, it is considerably cheaper and more efficient than first and second generation networks.
GlobianceDEX's trading capabilities are almost instant since investors trade against liquidity pools rather than order books. Traders can also customize settings such as slippage, deadline, and swap path to suit their needs.
Traders can also select a swap path while trading to leverage price differences and do arbitrage. In addition, the platform allows trading for Fee On Transfer Tokens (FOTT), like GBEX, which is supported and auto-detected if included in the swap path.
GlobianceDEX users can earn LP Tokens by providing liquidity in liquidity pools and generating rewards by staking them. To incentivize liquidity providers, a 0.3% fee is cut as a trade fee and re-distributed to all the liquidity providers in that pool.
GlobianceDEX lets you trade almost any asset in seconds without requiring registration. A compatible wallet is the only requirement.
HOW DOES LIQUIDITY WORK IN GlobianceDEX?
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In GlobianceDEX, the community can create new pools and add liquidity. As they provide liquidity, users will get Liquidity Tokens as a reward for their participation in the pool. Liquidity Tokens distribution will be according to the share of the user in the total pool.
Users can remove liquidity anytime, and providers would be credited with the tokens according to the liquidity token amount. To incentivize liquidity providers, a 0.3% fee is cut as a trade fee and re-distributed to all the liquidity providers in that pool.
On top of the standard fee, additional incentivizing programs are being developed to incentivize liquidity providers. Models are based on a Game Theoretical Approach which rewards long-term liquidity providers in tokens.
By providing liquidity in liquidity pools, you can earn LP Tokens and earn rewards by staking them.
HOW CAN I PROVIDE LIQUIDITY TO THE EXCHANGE?
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In GlobianceDEX, the community can create new pools and add liquidity. As they provide liquidity, users will get Liquidity Tokens as a reward for their participation in the pool. Liquidity Tokens distribution will be according to the share of the user in the total pool.
Users can remove liquidity anytime, and providers would be credited with the tokens according to the liquidity token amount. To incentivize liquidity providers, a 0.3% fee is cut as a trade fee and re-distributed to all the liquidity providers in that pool.
On top of the standard fee, additional incentivizing programs are being developed to incentivize liquidity providers. Models are based on a Game Theoretical Approach which rewards long-term liquidity providers in tokens.
By providing liquidity in liquidity pools, you can earn LP Tokens and earn rewards by staking them.
TOKEN LISTING
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HOW MANY TOKENS ARE LISTED IN GlobianceDEX?
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GlobianceDEX uses EURG, USDG and USNOTA stablecoins as base prices, pegged to their respective fiat currencies. USDG can be swapped from USDC or USDT.
The platform also uses GBEX, USDG, XDC and USNOTA as common bases. The token list includes but is not limited to EURG, GBEX, SRX, USDG, WXDC, XDC. The community can request more tokens to be listed.
WHERE CAN I SWAP EURG AND USDG?
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EURG and USDG can be swapped to and from Fiat currencies on the Globiance Centralized Exchange. USDG can be swapped from USDC and USDT.
CAN I TRADE A TOKEN NOT LISTED IN THE GlobianceDEX?
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GlobianceDEX allows the trading of all assets no matter if the asset is listed in the default token list. In that line, the user simply needs to paste the custom token address in the token list and click on Add. Then, start trading it.
HOW CAN I DIRECT MY COMMUNITY DIRECTLY TO TOKEN SWAP & ADD PAGES ?
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GlobianceDEX allows community to create links with configuration to pre-select input & output currency.
Links to any pool for Swap & Add Liquidity can be copied from top right buttons available in the info page for the particular pool.
In order to allow auto import of your custom tokens you can replace the token name with the token contract address. This will show a pop-up modal on link click. Examples::
HOW CAN THE COMMUNITY REQUEST THE LISTING OF A TOKEN?
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The Globiance community can request the inclusion of listings into the default GlobianceDEX token list. However, users do not need to wait for approval since they can always trade any token regardless of whether it is on the default token list. Just click on add and start trading the wished token.
When the token has been reviewed and accepted, it will be added to the default token list, and its pools and trading will be visible to all users by default.
HOW DOES GlobianceDEX GENERATE USD PRICES OF ASSETS?
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GlobianceDEX generates the USD prices of assets by calculating its relative prices in relation to a stablecoin and using its average price as the price.
EURG and USDG stablecoins are used as the platform's base prices, pegged to their respective FIAT currencies. All the pools from which prices are derived need to contain one of the stablecoins as its asset.
In that framework, the engine parses all the pools directly or indirectly connected to a stablecoin. Using an example, if Token A ( TKNA ) does not have a direct pool with Stablecoin S ( STBS ), but has a pool with Token B, which has a direct pool with STBS, then the price of TKNA will be derived from the path TKNA-TKNB-STBS
Detailed information about prices in different pools and paths of given assets can be found on the Token Price page.
WHERE CAN I SEE THE PRICE DETAILS AND THEIR DIFFERENCES?
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Users can see detailed information about prices in different pools and paths for each asset on the Token Price page.
WALLETS
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What wallets are supported in GlobianceDEX?
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Globance DEX supports the following methods of connecting wallets:
Private Key
Keystore
DCENT
XDCPay / XinPay
GlobianceDEX will also expand its connectivity options as support for XDC wallets grows.
ISSUE WHILE CONNECTIONG WITH XDCPAY
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XDCPay is a browser extension where users can create & operate their XDC wallets from. It is to XDC what Metamask is to Ethereum.
Common issues & its resolutions:
If XDCPay is newly installed, please refresh the page before testing again.
XDCPay does not work well if Metamask / other wallet extension is installed. Please disable any other extension and refresh before trying again
XDCPay connects to XinFin's public rpc which is subject to downtimes. So incase your wallet is not loading / connecting please try to connect using other options.
WHAT DO I GET AS REWARDS WHEN PROVIDING LIQUIDITY?
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When users provide liquidity to any liquidity pool, they will receive Liquidity Pool (LP) tokens. LP tokens will be distributed according to their participation in the total pool of a pair.
Reward distribution is determined by factors including the total liquidity provided, the time for which liquidity was provided, and the rewards allocated for that particular pool.
Globiance never rests! We are working hard to develop the platform and to improve and create new incentive models for liquidity. As a result, yield farming with liquidity pool tokens and staking is considered.
In addition, a multi-asset platform is a target. GlobianceDEX is developing an NFT marketplace, NFT gaming, and more!