By
Tolu Ajiboye
February 23rd, 2024
Decentralized exchange Radar Relay is to support Ledger hardware wallets providing its users with new wallet to wallet trading opportunities.
As it has become known just a month after having raised $3 million in venture funding decentralized exchange startup Radar Relay has added support for the Ledger hardware wallet.
Being a relayer that uses the 0x protocol to host an off-chain order book of individually signed orders Radar Relay is not an exchange. It doesn’t hold user funds, it just displays and manages orders.
As completed orders are settled on the Ethereum blockchain via 0x smart contracts, Radar Relay guarantees a high level of security for its users. Let’s remind that 0x protocol was introduced last year in order to facilitate fee-less transactions on the Ethereum blockchain
Due to the integration with Ledger hardware users will be able to transfer ether or supported ERC-20-based tokens directly to another Ledger wallet. Such step is quite significant for the industry as it is one of the first cases when users are enabled to trade funds directly from one wallet to another. Earlier Radar Relay has already announced its integration with the browser-based wallet MetaMask.
Radar Relay has provided a detailed and easy-to-follow instruction for those who want to integrate Radar Relay and Ledger Wallet. For doing this it is necessary to connect Ledger hardware wallet to the computer, open the Ethereum application on the Ledger, and then send funds using the Radar Relay application. Users can choose gas prices and tokens, and transfer their coins via the Radar app.
It’s worth mentioning that Radar Relay has added a new marketplace selection allowing users to choose between token pair denominations. Currently, WETH and DAI are also available.
The news about the integration has been well received by the cryptocurrency community. Some users called the initiative amazing and breaking edge.
A little bit earlier it was informed that the France-based maker of hardware cryptocurrency wallets Ledger had raised $75 million in series B investment round.
According to Ledger, they plan to invest the new funds primarily in expanding their business in terms of the increasingly growing popularity of cryptocurrencies.
The company has also told about its work on the development of a new storage solution for managing crypto assets. The product will be of use for institutional investors such as banks and hedge funds.