Munt is developing a decentralized exchange due end this year. On this page we try to track all developments accordingly, so come back once in a while for more news.
The decentralized exchange will be running on the Munt blockchain and the fees for the exchange will be in NLG. For Munt users the DEX will be integrated in their wallets. But next to that developers are also looking into a stand-alone DEX application, where users can trade several Crypto. In this way more people will get in contact with Munt and it’s user-friendly alternative to fiat money.
The DEX will be listing multiple coins, tokens and provide for stablecoins, placing the technology right at the heart of the crypto markets.
The first coins listed will be Munt, Gulden, Florin, Bitcoin and a stablecoin.
Thus far known, no KYC will be needed for trading.
What is a DEX?
A decentralized exchange (DEX) is a marketplace for cryptocurrencies or blockchain investments. Nobody is in control at a DEX, instead buyers and sellers deal with each other on a one-to-one basis.
A good way to think of a DEX is as a “do-it-yourself trading solution.” You make the trades and hold the funds or tokens in your own account. The biggest advantage to this system is that your funds and personal data will not need to be entrusted to a trading company, third party or government.
Another advantage is that there is no server which can go down or get hacked. Instead, a DEX operates all over the internet through a variety of nodes. In Munt’s case there are over a thousand worldwide nodes already operating.
You can support development by buying Munt through the Blockhut.com website. A 10% development donation will be automatically added to your fee when buying.