TronWatch Market: Tron Network to come up with a decentralized exchange
Tron, a relatively young platform, aims to ‘decentralize the web’. So, it doesn’t come as a surprise that they want to create a decentralized exchange for TRX tokens. Tron launched their mainnet in June 2018 and just recently launched its fully functional Tron Virtual Machine.
According to EthereumWorldNews, the project if decentralized exchange goes by the name, Tron Watch Market and the main goal of the project is, “[To become] an intuitive and fully-featured Decentralized Exchange (DEX). That will allow you to trade between TRON, TRX10, and TRX20 Tokens in a secure, decentralized manner.” Reportedly, the project TronWatchMarket will help to increase the liquidity of the token.
Decentralized exchanges (DEXs) enable peer-to-peer trades and they do not rely on any third-party operators to handle the funds of the users. Instead, the funds are all managed by an immutable smart contract. According to Tron Watch Market’s whitepaper, “Fees are necessary for any exchange in order to fund ongoing operations. We will be charging a modest trading fee and will allow users to purchase a discount on future trading fees. There will also be a listing fee for adding new tokens to the site.”
TronWatchMarket (TWM) token will be facilitating key features on the decentralized exchange which includes lifetime trading, listing tokens and also voting on the platform. Reportedly, TronWatchMarket also partnered with Sesameseed in order to bring the TWM token sale to the SEEDGerminator platform. Also, the SEED Holders can purchase TWM tokens through the platform.
TronWatchMarket whitepaper mentioned, “Our previous contributions to the Tron community have proven to be of value to the network, and we are eager to take the next step with the development of this exchange.”
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