Dexalot, a decentralized cryptocurrency exchange has launched on an Avalanche L1, marking a new milestone in the evolution of decentralized trading protocols.

The Dexalot L1 aims to replicate the user experience of a centralized exchange (CEX) without compromising on decentralization and transparency. Its team has spent months building and refining its application using the Avalanche Fuji test network to deliver an on-chain central limit order book (CLOB) with low transaction fees, fast transaction finality, and support across spot trading pairs.

The Avalanche L1 is a key pillar of Dexalot’s dual-chain application. Traders deposit and withdraw assets through the Dexalot application on the Avalanche C-Chain, and then trade on the Dexalot L1. Communication between the Mainnet and Avalanche L1 occurs through generic message passing using high-end cross-chain communication protocols, like LayerZero. This enables traders to trade with confidence — without surrendering custody of their assets — and may reduce slippage in trade execution.

“By utilizing both the [deposit] chain and [trading] chain, we have optimized Dexalot for speed, safety and above all, experience,” says Co-Founder and CTO Cengiz Dincoglu. “We are looking forward to introducing DeFi traders to Dexalot on the Avalanche network, and to further differentiating our platform from other centralized and decentralized exchanges in the market.”

According to the Dexalot team, its unique design “establishes a base for expanding to other host chains to further DeFi mass adoption.” The innovative implementation is said to represent a foundation for multiple ecosystem interoperabilities to be created on top of, and around, Dexalot’s Avalanche deployment.

As well as launching its long-awaited Avalanche L1, Dexalot has confirmed that it will commence a new Incentive Program. The Dexalot Incentive Program (DIP) will give active traders up to 4.8 million $ALOT tokens over the coming months. To be eligible for rewards, users would have connect their wallet, deposit tokens such as ALOT, AVAX, BTC.b, WETH.e, USDC, USDT, and start trading.

DeFi traders can now take their decentralized trading to the next level.

Start trading now: https://app.dexalot.com/

This post is based on materials provided by Dexalot. For more information, visit Dexalot’s website.

Provided for informational purposes only, without representation, warranty or guarantee of any kind. None of this is as an endorsement by the Avalanche Foundation Limited, Ava Labs, Inc. or any of their respective subsidiaries or affiliates, nor is any of this investment or financial advice. Please review this Notice and conduct your own research to properly evaluate the risks and benefits of any project.

About Dexalot

Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. The Avalanche-powered DEX represents an inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk.‍