Following the recent surge in cryptocurrency prices, the cryptocurrency market continues to attract new users by the day. Most traders, however, face huge challenges of the volatile nature of the market. This has led to the popularity of decentralized exchanges, which have become an integral part of cryptocurrency trading.
Decentralized exchanges (DEXs) empower users by making cryptocurrency assets accessible to more people. One such platform is Soldex. Soldex is a hybrid crypto exchange protocol on the Solana Blockchain. The decentralized exchange is attempting to make crypto trading more accessible and straightforward by the use of artificial intelligence.
Currently, new crypto traders face the challenge of having to be conversant with markets and learning about assets they want to trade. Soldex is eliminating such barriers by allowing traders to use AI-powered trading algorithms developed by users.
Why AI Trading?
Trading financial assets is a complicated task that at times ends up involving emotional trading. The introduction of AI to trading ensures the elimination of emotions that influence trading; AI eliminates the feelings and sentiments of real people and makes tough decisions as they arise. Moreover, AI doesn’t stick to its favourite ‘indicators’ and market patterns to make decisions.
Soldex AI trading entails the use of crypto trading bots that come with features such as market data analysis, market risk prediction, and buying and selling assets on behalf of the users, all of which allow for more informed decisions when trading. As an automated trading suite, the algorithm will gather expert data and continue to develop its learning capabilities.
By harnessing AI, traders can continue trade activities 24/7 in all market conditions as it automates trading. Soldex CEO John Robertson shares,
“AI will be so far advanced that users will be able to create their own trading strategies and sell them on the marketplace.”
The induction of AI into trading will make trading much easier for people who want to begin trading and don’t know where to start. The decentralized format will completely shift people’s perspectives on cryptocurrencies.
More on Soldex
Beyond the AI trading capabilities, Soldex offers many other features over other DEXs. One such feature includes resolving issues in older systems since it is natively built on the Solana blockchain. The platform is also relatively cheap than anything made on Ethereum. Solana currently processes 65,000 transactions per second for less than $0.00001 per second.
The Soldex platform is completely permissionless. This means that anyone, regardless of their location, can trade, provide liquidity or begin staking without a Know Your Customer (KYC) requirement. Apart from the AI bots, the platform also has a team of data sciences and experts to enhance its learning capabilities. Soldex’s internal infrastructure consists of smart contracts and blockchain oracles to maintain a decentralized structure.
Soldex is in the process of conducting a private sale for 30% of its tokens, open to retail investors. It will later become publicly available to the users, giving them access to governance rights, access to feed AI bots and can be staked for a share of redistributed protocol profits.
We can only expect to see SOLX listed on major exchanges.
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