Company and product

Community update 17 November 2022

17, November, 2022 • 5 MINUTES READ

Dear Community,
We are happy to announce the release of our interim Testnet upgrade. It includes our custom built blockchain, blockchain transaction explorer, EVM/Dexilon bridge, cross-margin mode trading, and 13 trading pairs. Within the next few weeks, we will also present the long-awaited Liquidation Pool and the first version of the Trading Terminal (market data analytics tool). In summary, about 90% of tech required for the Mainnet V1 release is completed, and we have completed 70% of the security audit, conducted by Hacken. We would very much appreciate a testing of the product and a feedback on our social media channels.

I would like to provide a quick note from the Dexilon Team regarding FTX and the surrounding situation. First and foremost, I hope your business has not been affected in anyway. Regarding FTX, events observed during the last week will tremendously transform the industry going forward. There will only be two paths going forward, DeFi or bank-like regulated CEXs, anything in the middle will likely fail. Recently spinned twitter tag – “If you don’t own keys, you don’t own crypto,” meaning only one thing – the sector will accelerate its transformation for true decentralization.

We believe Dexilon will fit perfectly into the new paradigm of the crypto industry – uncompromised transparency, no centralized custody, code-driven risk management, and DAO governance. Still, this new paradigm requires substantial effort to achieve robust user experience standards, cost of trading, and latency. Since Day 1 of building Dexilon – code driven transparency, user experience, costs and latency were at the heart of the company strategy, and we remain committed to achieving our goals.

Over the past few years, we have seen an enormous shift to the institutionalization of crypto, but it eventually did not end well with all of them. As many of you have heard our narrative – “Heaven for Market Makers”, so our short-term business plan is to regain confidence of the market by fully eliminating a counterparty risk. Wish us a bit of luck and we will certainly prove – Dexilon is your best trading solution, especially in such market conditions. Thank you for your trust.

Kind Regards,
Dexilon Team

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