Dexalot’s existing Central Limit Order Book (CLOB) exchange operates on a dedicated application-specific chain launched in February 2023. The decision to expand to Arbitrum will offer users of the Ethereum L2 access to novel features.
“Our skilled engineering team has successfully enhanced our infrastructure to seamlessly integrate with other EVM chains, marking a significant step forward for Dexalot,” Dexalot COO Tim Shan told Investing.com.
“This paves the way for a future where Dexalot thrives across multiple chains. Following our integration with Arbitrum, we are poised to expand our reach to six additional chains by year’s end, including Ethereum, Base, and BSC.”
Dexalot’s CLOB differs from conventional Automated Market Maker (AMM) DEXes as it provides a user experience similar to using a centralized exchange (CEX). Users can place orders at specific price points (limit orders), which reduces price slippage and improves capital efficiency. Dexalot also touts offering transparent order visibility, competitive prices, and deep liquidity, all with minimal gas fees.
Dexalot’s launch came at a time of growing uncertainty surrounding centralized exchanges, particularly in the wake of FTX’s collapse. Since then, users have been steadily shifting away from centralized platforms, leading to a surge in trading volume on decentralized exchanges (DEXs).
The launch on Arbitrum will provide L2 users access to features previously unavailable on the network and offer their projects a new platform for launching native tokens. Dexalot maintains decentralization as all orders are placed on-chain with no custodial risk, aligning with Arbitrum’s design principles.
Arbitrum was introduced in August 2021 as an Ethereum scaling solution employing optimistic rollups to expedite transactions and lower fees. The network has the capacity to process up to 40,000 transactions per second (TPS).
“We are very excited to expand Dexalot’s multichain order book with commingled liquidity to the Arbitrum community. This is a major milestone for the Dexalot team, and we are very proud to achieve on Arbitrum,” said Shan.
Since launching on its own Avalanche Subnet, Dexalot has processed over $1.1 billion in transaction volume. Its launch on Arbitrum is expected to increase these volumes while providing a “safer and more secure trading experience,” it said.
“Dexalot’s Central Limit Order Book on Arbitrum promises fairer pricing, deeper liquidity, and enhanced capital efficiency. Offering a centralized exchange-like experience will move DeFi closer to mass adoption,” added Peter Haymond, senior partnerships manager at Arbitrum.
Source: Cryptocurrency - investing.com
