Sportcash One — DEX — Decentralized Exchanges
DEXes or Decentralized Exchanges are cryptocurrency exchanges whereby transactions occur peer-to-peer online securely thereby eliminating tradition third-party intermediaries (i.e. banks, government institutions, stockbrokers, etc..). DEXes leverage blockchains or distributed ledgers and smart contracts to execute orders. As users need not transfer their assets to the DEX, their risk of theft and hacking from a centralized security protocol is dramatically reduced. Decentralization provides increased anonymity than CEXes or centralized exchanges which require strict KYC (know your customer requirements). Additionally, decentralized protocols in an exchange capacity help to prevent price manipulation, and corrupt investment practices such as wash trading.
Sportcash One’s DEX offers the benefits of decentralized protocols within the sporting ecosystem with improved capabilities and interoperability of the SCOneX token. Check out our DEX and custom wallet by clicking the following link:
What does a DEX provide the Sports Industry?
Sportcash One’s custom DEX and Wallet allow athletes, teams, brands, and additional token bearing entities direct access to the benefits of customization and decentralization while simultaneously internalizing the rewards of peer-to-peer transactions. The absence of traditional intermediaries allows the sporting ecosystem to maintain the capital transacted while imbuing additional parts of the ecosystem with the value they wish to invest via their transacted tokens. The SCOneX token built on the waves platform offers incredibly fast and cheap international transactions. Speed and frictionless transactions throughout an entire sporting ecosystem provides greater value retention within the sporting community. DEXes are an essential core of DeFi functionality. Staking capability (offered in SCOneX tokens) is an essential feature made possible by DEXes. DEXes provide staking capacity which means the capital transacted within the sporting ecosystem is “staked” to produce more capital which can then be redeployed for increased transactions within the sporting ecosystem. Importantly, DEXes, Staking, and other DeFi functionality and products generate “flywheel effects” whereby a community is incentivized and encouraged to transact in digitally native cryptos which are then staked, traded, or otherwise invested within industry specific DEXes maximizing value, capital retention, and ease of transactions all on secure, fast, and internationally capable blockchains. The great paradox of crypto and blockchain is by virtue of decentralizing traditionally centralized intermediaries value accretion occurs at “centralized” atomized nodes. Put simply, decentralized protocols, namely DEXes centralize value for the INDIVIDUAL. In doing so, the ecosystem flourishes, as do the individuals within.