What's prop dex and why prop dex?
On Nov 3rd, the official X account of PlatON made a tweet announcing its regularly monthly report, a report consisting of various activities that took place the previous months, from inapp development to offline events, the monthly report is usually one to look forward today and Oct was no different.
As usual, the monthly report is filled with various activities, from providing summaries and data of previous months onchain and Offramp transactions to publishing of new and ongoing developments and as mentioned earlier, Oct was no different especially with the mention of Prop Dex.
What's prop dex?
Prop Dex is primarily aimed at the stablecoin foreign exchange market (FX MARKET), providing high-speed on-chain exchange services. The first phase will support high-speed on-chain exchanges for PlatON’s native stablecoins, including USDT, USDC, XSGD, XUSD, and PHPC, and plans to simultaneously integrate country code payments and RemiNET services.
Let's break the above down a bit for those who find it a little bit hard to understand, Prop dex is not just fast but will be super fast, for those who have made one or two transactions on PlatON can testify to transaction speed on how it all confirms in secs. Using this, Prop Dex is building a service that will allow fast and easy exchange of stablecoins within seconds, from the likes of usdt to usdc and even cut across XSGD, XUSD, and PHPC.
While still in development, other plans are still undergoing that will also encompass global payment across countries.
That said, not much was shared but based on report from Oct monthly report, Prop Dex might likely go online this November.
What are your expectations for this new service? Will you be trying it out?
As usual, don't forget to follow PlatON on every social platforms to stay informed on new and trending topics within PlatON. To that I say goodbye for now and do have a productive new week.
