A new Solana-based decentralised exchange (DEX) called NovaDEX is making waves in the DeFi space due to its unique offerings and decentralised model. While the issue of security has become a major issue in the DeFi space, NovaDEX has taken steps to ensure its platform is audited by QuillAudits, a top auditing platform.
This DEX allows investors to earn free tokens as they trade with its Trade-to-earn feature. Read on to learn about NovaDEX’s Trade-to-earn feature.
Additional Benefits of Providing Liquidity on NovaDEX
NovaDEX operates a unique concentrated liquidity model which gives its users the ability to assign liquidity within a specified price range. This concentrated liquidity model gives traders the advantage of increasing efficiency and reducing slippage.
In addition, it also allows users to adeptly navigate the challenges posed by market price fluctuations.Thus, providing liquidity becomes more capital efficient as the liquidity is concentrated in narrower ranges, reducing slippages.
A smaller range results in less competition and more assets available for trading, which can lead to higher profits for NovaDEX LPs. Lastly, NovaDEX gives its LPs more flexible risk management and a better market view.
NovaDEX (NVX) Has Potential for Huge Gains
The Solana DeFi ecosystem has witnessed massive expansion in the past year, thanks to the influx of projects and users into the ecosystem. Apart from enjoying the high-level security, fast transactions and low cost offered by Solana, NovaDEX will see a large influx of users.
So far, NovaDEX has welcomed over 1.9K plus holders with more than 85K total transactions recorded on the decentralised exchange. Additionally, NovaDEX’s market cap is at $1.58 million. This shows that investors and traders are confident about the project and its future potential.
In terms of social proof, NovaDEX has been featured in top crypto platforms like CoinMarketCap, CoinGecko, and DEXTools. Furthermore, NovaDEX’s native token, NVX, has been listed on two centralised exchanges, BitMart and MEXC. It is also available for trading on Jupiter, Orca and Raydium.
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