Fast, Secure and Interoperable, Parex Is the New Decentralized Exchange to Look Out For press release
PRESS RELEASE. We are hugely excited to announce the official launch of Parex, a new decentralized exchange with an in-built PRX token unique to the mining production mechanism. Developed in response to the costly and often ethically dubious state of centralized finance, Parex promises to offer a secure, fluid and accessible platform like no other.
Before Parex, teams had to develop and operate proprietary indexing servers, which required significant engineering and hardware resources, while breaking important security properties required for decentralization. The opportunities of decentralized networks like Parex offer solutions to these issues. So what sets Parex apart? Increased interoperability, a community-oriented ethos, and an environmentally friendly mining method.
The Parex production network is processed with the DRC-16 protocol and designed to build bridges with many networks thanks to Proof of Interoperability. Indeed, the Proof of Interoperability mechanism ensures that the PRX token is an interoperable token in every network. Every inter-network transfer is possible thanks to Parex Market. Switching between networks can be done for a low fee and with high efficiency, facilitating transfer routes for PRX. There is a balance between all networks, including Polygon, BEP20, Ethereum, Polkadot, and Avax, among others.
Tokens and transfers are produced directly and autonomously by all PRX users: unlike other decentralized exchanges, this one is community-led. It functions like a WEB3 project, modernizing more traditional tokenization, transfer and mining systems. Speaking of mining: PRX is the most valuable long-term method as it is environmentally friendly and balanced against inflation. Concretely speaking, Parex Market updates the mining system through a more ecological approach, known as burning. As soon as the PRX token is sent to production, it is burned and falls out of circulation. It continues its existence as a community-oriented project to overcome all difficulties. This burning algorithm ensures a sustainable and environmentally friendly exchange, lasting many years. The current PRX Burn Percentage stands at 86.84%. Furthermore, Parex is currently set to lead many projects in the developable smart contracts ecosystem.
Parex will activate The Ethereum(#ERC20) bridge on April 13. This will light the way for parex as a faster and developing token using different networks.
Parex, which also has a certik certificate, has recently announced that it will apply for skynet.
Parex Market also does not neglect to contribute to the blockchain ecosystem. In this regard, it allocates a fund of $75M. Funds are provided to projects that want to develop DeFi, Metaverse and Web3 projects in-house. More than 300 applications were submitted. Projects benefiting from the fund will be announced soon.
With 31,693 total users as of March 2022 and a market value of $3,477,608.9641 for the PRX token, Parex looks set to take the world by storm.
Social media:
Twitter: https://twitter.com/parexmarket
Instagram: https://instagram.com/parexmarket
Telegram Group: https://t.me/ParexPRX
Telegram channel: https://t.me/parexmarket
YouTube: https://www.youtube.com/channel/UCoaCqqGjbEZU-n2ZkBKfoAg
Tags in this story Parex
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Bitcoin.com Media
Bitcoin.com is the premier source for everything crypto-related. Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. Quik․com Marketplace Launches Minting of NFT Domain Names SPONSORED | 7 mins ago Anonymous Has Released Over 2 Million Russian Emails in Cyberwar With Russia NEWS | 1 hour ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGolden State Warriors Commemorate 2022 NBA Playoff Run With a Responsive NFT Collection Next articleBiggest Movers: SHIB up Almost 20% Following Robinhood Listing, Near Also Higher More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3
On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.NFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says India"s Crypto Trading Volume Plummets as New Tax Rules Enter Into Force