Press release. In response to the impact of the increase in natural gas prices in recent weeks, DMEX has moved its trade processing process to the xDAI sidechain so that transactions can be recorded more cheaply. Client funds are still stored in the Ethereum smart contract, but transaction records are now executed on xDAI.
This change allows users to place an order of $100, which has been impossible so far. During the soaring price of gasoline in Ethereum, the minimum order demand increased to $200k.
The new structure allows the minimum price of Ethereum to be set at $100, regardless of the price of Ethereum gas.
How does it work?
The custodial smart contract remains on the Ethereum blockchain, so the same margin currency is used for transactions (ETH, BTC or DAI), while the smart contract responsible for transaction processing and recording is hosted on the xDAI side chain. Whenever a user deposits funds to DMEX, the escrow contract (on Ethereum) communicates with the transaction contract (on xDAI) through a decentralized bridge, and conveys to the transaction contract that the user has made a deposit.
Then, traders start trading using xDAI contracts with cheap gas fees and the lowest minimum order. Whenever a trader wishes to withdraw funds from DMEX, the xDAI trading contract will send a request to the Ethereum escrow contract to release the funds to the user’s wallet.
DMEX provides the best decentralized user experience for perpetual futures contracts, leverage up to 100 times, lightning-fast transaction execution, instant withdrawals and no KYC checks. Check the DEMO version and see for yourself.
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