Significantly Positive Globally—VastDEX Helps the Vast World Enter the New Milestone
On December 21, 2020, Vast World Whampoa Phase II training was grandly opened. At the opening ceremony of the special training camp, major benefits of future plans were announced to the world. So far, the number of Vast exchange pools has exceeded 12.78 million USDT, and the exchange cost of SKT at this stage is 0.74$. The major benefit this time involves the launch of the public chain independently developed by Vast and the ecological layout of the DeFi sector. Vast’s vast world is growing at an ever-increasing speed, and it will surely enter a new milestone and achieve a major breakthrough.
The public chain independently developed by Vast will begin testing on December 25, and the final public chain will be tested on the 28th. The public chain will officially go live on the 31st. The public chain of DeFi is based on Ethereum, and 95% of DeFi uses Ethereum. Ethereum has smart contracts, and they are widely used. However, due to the influence of DeFi and other factors, the transmission speed of Ethereum and the efficiency of contract interaction, and the miner fees have also risen sharply.
Although Bitcoin is the leader of encrypted digital currencies, its smart contract capabilities are very poor, and its transmission speed is even less satisfactory. The preparation for the launch of the public chain will provide technical support for Vast’s deployment of the DeFi ecosystem and provide more powerful help for the subsequent launch of the more innovative VastDEX decentralized exchange.
Before understanding the ecological layout of Vast DeFi, let’s first understand what is DeFi?
DeFi, the full name is Decentralized Finance, that is “decentralized finance” or “distributed finance”. Ecological developers often regard the following: stable currency DAI, lending market and decentralized exchange (DEX) as the “troika” of DeFi.
The decentralized exchange (DEX) is a very important part of the DeFi ecosystem, and its role in the DeFi ecosystem is equivalent to the role of the centralized exchange (CEX) in the entire cryptocurrency market. However, due to the low transaction efficiency and small user scale of DEX, it has always been active in the industry with a niche attitude.
The VastDEX decentralized exchange developed based on the Vast public chain is fully decentralized, transparent and open. Compared with CEX (centralized exchange), the core of the exchange is deposit and withdrawal, order placement, order matching, fund settlement, and withdrawal. All the above links are matched by the trading platform itself.
On the other hand, VastDEX puts all the above links on the chain, and smart contracts perform all operations, so that the user’s transaction process does not require any trusted third party. At the same time, decentralized exchanges driven by smart contracts can save users from responsible KYC audits, and can also help users eliminate the risks caused by centralized exchanges “unplugging the network cable”, secretly manipulating prices, fraudulent transactions, and running away. All transaction records are available on the chain.
And, analogous to Uniswap, the largest decentralized exchange today, the VastDEX decentralized exchange is not a peer-to-peer system that relies solely on users to provide liquidity, but allows users to directly trade with contracts that remain constant and have sufficient liquidity. Therefore, in theory, the risk of price fluctuations and lack of liquidity is reduced.
In short, VastDEX has all the characteristics of a decentralized exchange, but it is superior to Uniswap in terms of the liquidity of user transactions. When users trade on the VastDEX decentralized exchange, they do not need to consider the various problems caused by insufficient liquidity and price slippage.
Vast’s goal is to break the centralized system of traditional financial and entity applications in various industries, remove the competitive advantage of centralized central nodes, and build a decentralized financial and traditional industry application ecosystem.
Vast’s goals and vision are being realized step by step, by building a huge DeFi ecosystem, eliminating monopoly and inequality, and building an intelligent trusting society. Restructure financial infrastructure, tools and derivatives, reduce intermediaries, and save a lot of intermediary expenses and operation and maintenance costs.
2021 is the year of the ox, and it is also a year of vigorous development in the vast world of Vast. After the Vast public chain goes online, the new version of DAPP will be officially launched on January 4, 2021. In the future, Vast will reach strategic cooperation with the international payment platform J2PAY in various ecological fields, docking SKY’s payment, and perfectly realizing more SKY application scenarios.
With strong technical strength, Vast has built a high-performance infrastructure to provide ecological scenarios for the development of DeFi, which not only promotes the development of DeFi, but also makes DeFi easy to operate and rich in applications. With many advantages such as ecology, technology and scenario requirements, Vast is bound to stand out from many public chains.
While diverting the development of DeFi, it will also become the next wealth password for the development of blockchain.
