Moonbeam Onboards Next-Gen DEX dTrade to Support Low-Latency Derivatives Position Trading

UTC by Julia Sakovich · 3 min read
Moonbeam Onboards Next-Gen DEX dTrade to Support Low-Latency Derivatives Position Trading
Photo: Shutterstock

dTrade will support Metamask for ETH and all other ETH-based tokens, which will deliver support for users of all EVM-compatible chains.

Moonbeam, a substrate-based platform offering full compatibility with Ethereum, has incorporated dTrade, a highly optimized decentralized exchange for derivatives positions, with its smart contract environment and runtime pallets.

In its announcement on Wednesday, July 28th, dTrade confirmed a technical integration with Moonbeam. However, before deploying the code on Moonbeam’s MainNet, dTrade will be implemented on Moonriver, the permanently incentivized Canary Network of Moonbeam Network operating a Kusama parachain.

Once developers complete testing and vet the code structure on the Moonriver community-driven companion network, the proposed deployment on Moonbeam will be initiated. dTrade will also launch a trading competition on Moonriver to test the stability of the network before deploying on Moonbeam.

dTrade caters to the Polkadot community, providing unique solutions for over 30,000 parachain crowd loan participants, as well as staking derivatives of bonded DOTs. Additionally, dTrade provides the swiftest performance among DEXs, with a settlement time of under 450 milliseconds alongside bare minimum gas fees.

Optimal Cross-Chain DEX Performance, Security and Access

dTrade will eventually be launched on the MainNet after Moonbeam wins a Polkadot parachain slot auction expected before the end of the year. Moonbeam’s Moonriver won the second round of the Kusama parachain auction on June 29th, making dTrade the first-ever Substrate-based decentralized derivatives exchange deployed on both Moonriver and Moonbeam.

With Moonbeam, dTrade will be able to provide traders with a low-latency and intuitive trading experience and access to a greater scope of products and services. Moreover, traders can use familiar interfaces, collateralize multiple Moonbeam-native assets for exchangeability, and experience highly performant trade execution, all while leveraging Polkadot’s shared security.

Due to the modular design of both Moonbeam and Moonriver, dTrade’s functionalities will take advantage of security offered by Polkadot’s Relay Chain on the mainnet (Moonbeam) and the Kusama Relay Chain and its validators on the testnet (Moonriver). By combining full Ethereum compatibility with Polkadot’s scalability, cross-chain integrations, and on-chain governance, Moonbeam intends to simplify the end-to-end developer experience.

High-Level Ethereum Compatibility Encourages Developer Participation

dTrade developers don’t need to rewrite or reconfigure anything as both Moonbeam and Moonriver support smart contracts written in any language that compiles to Solidity bytecode. Another significant benefit for dTrade is that Moonbeam is also compatible with the Substrate and Polkadot ecosystem, including block explorers, parachains, wallets, and more. This added flexibility translates to more choices among a varied range of new tools while continuing to apply the programming languages and tools currently in use.

Furthermore, Moonbeam also caters to the technical requirements of dTrade. For instance, dTrade will support Metamask for ETH and all other ETH-based tokens, which will deliver support for users of all EVM-compatible chains. Both Moonbeam and Moonriver offer full compatibility with Ethereum’s development ecosystem, including tools like MetaMask, Hardhat, Waffle, Remix, Truffle, and other Substrate-based APIs.

Through replication of Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and other features, Moonbeam simplifies Solidity smart contract operation on its own network. The platform also extends the Ethereum feature set with additional functionalities, such as on-chain governance, staking, and cross-chain integrations. As a result, the Moonbeam Network is well-equipped to offer dTrade, and other projects access to several unique features, including PoS security and seamless cross-chain communication.

Taken together, Moonbeam’s shared security, high-throughput, low-latency transactions, micro-gas fees, and interoperability across networks will support dTrade’s advanced performance and security, helping maintain its reputation as one of the fastest exchanges in the DeFi segment.

Altcoin News, Blockchain News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

Related Articles