Recently, gaming leader Vulcan Forged announced the launch of their brand new DEX for gaming tokens. What this suggests is that there will be a decentralized exchange. This will be the first-ever DEX that will have been purpose-built for video gaming tokens.
The growing market of gaming tokens and coins is one that has actually been drawing a growing number of attention from financiers and fans alike. Now VulkanDEX will be the first of its kind– a way for users to trade video gaming tokens.
© Vulcan Dex What can Vulkan DEX users do?
One of the essential functions of the exchange (other than its decentralized nature) is the fact that users will have the ability to trade on the platform without requirement to specifically register. Rather, they’ll be able to connect their crypto wallets (such as MetaMask) in order to access the functions the website provides. Beyond the plain exchange functions, the website will also offer the kind of liquidity swimming pools that some websites like Binance deal. Currently, there are 4 active swimming pools, with 4 more to come in the future.
Tokens like $YGG, $SAND, $AXS and $VNLA will be added quickly– and in-game possessions such as NFTs will also be tradable and farmable. The goal is to enable users to share, get, send out, purchase and offer video gaming tokens that they have or desire at their leisure. Crypto video gaming tokens have been rather disregarded by the
How do the liquidity swimming pools work?
DeFi liquidity swimming pools are the backbone of specific components of the DeFi environment– yield farming, borrow-lend protocols, blockchain gaming and more. Funds from different sources are thrown up into the swimming pool– the smart contract. When a trade is carried out, it is done so versus the total liquidity in the pool, rather than directly with the owner of part of the currency in the swimming pool.
To simplify it, it’s like everybody pours a bottle of water into a swimming pool– the water secured is from the pool, rather than from the bottle of an individual person. Each person has a certain stake in the swimming pool and if the swimming pool makes a profit, that is distributed according to what stake factors have. These swimming pools can be great opportunities to invest low-risk, small-scale.
What else can VulkanDEX do?
Vulkan Forged is implementing a play-to-earn space as part of their platform. It will enable users to play games and earn cryptocurrency while they play. Games using this model include Axie Infinity and the leader CryptoKitties. The concept of this setup is to reward users for interacting, and to incentivize them into participating in a particular video game or activity.
This kind of DeFi crypto video gaming is still pretty new, and it just surged to extreme popularity in the last couple of months. This means that VulkanDEX is not only the very first to do what it offers, but it is in the ideal position to admit to brand-new jobs and ideas prior to they become big. Among the major complaints that people had with Axie was that they lost out prior to it exploded– a platform like VulkanDEX could make it a lot simpler for investors to find a gem early. The one-stop-shop nature of it indicates that it’s much easier and more efficient for users to participate in numerous aspects of investing, buying and offering crypto, all without having to utilize a half lots different services. It might be a gamechanger– if it exercises that way, a minimum of.