By
Godfrey Benjamin
April 26th, 2024
Patex has launched its PATEX token on CEXs and DEXs for interested users and traders to enjoy several perks and advantages in the ecosystem.
Blockchain ecosystem Patex has announced the public listing of its PATEX native token on several exchanges and trading platforms. As of 11 a.m. UTC on March 12, users on centralized (CEX) and decentralized (DEX) exchanges can now trade PATEX via the PATEX/USDT trading pair.
Patex Token Holders to Enjoy Several Ecosystem Perks
The PATEX tokens will initially be available on three CEXs, including MEXC, KuCoin, and Gate.io. DEX users can also trade PATEX via PancakeSwap and Uniswap. Patex launched simultaneously on multiple CEXs and DEXs to create options for investors and ensure a seamless experience for all interested persons.
The Patex ecosystem is a blockchain network focused on building products and creating services for Latin American users. The new token is a tool that powers the entire ecosystem and is helpful across the multiple products and offerings that PATEX offers. PATEX tokens have special utility on the platform’s layer-2 network, as well as its native C-Patex trading platform. In addition to basic utility, holders of PATEX tokens can strengthen their engagement on the platform, as well as their sense of community as they get the opportunity to earn rewards, while accessing exclusive Patex features.
For instance, Patex holders can stake the token in 30, 120, and 365-day pools on the platform. Rewards include an annual percentage yield (APY) of 20%, 25%, and 33%, respectively. In addition, holding Patex offers a discount on lending and borrowing services on Patex Digital Bank, and allows users to participate in initial DEX offerings (IDOs) launched on the platform.
Other Patex Ecosystem Perks and Features
Patex has a focus on Latin America, a region with $5.5 trillion in gross domestic product (GDP) and a population higher than 670 million. This indicates a large region that can benefit significantly from increased adoption of blockchain technology via products and services from Patex. The Latin American region notably has a high number of unbanked and underbanked citizens who can access better financial and related services through Patex. In addition to an L2 network, the Patex ecosystem includes a software development kit (SDK), a wallet, and a blockchain explorer. Furthermore, Patex has an On Bridge platform to facilitate cross-chain swaps between the platform and compatible networks. Users can also enjoy Patex Campus, a diverse education center that features contributions from 200 universities, entities, and partners in the region.
The platform also intends to interact with several government authorities to create supportive regulations and promote certification. Part of Patex’s aim is to become a foundation for the development of central bank digital currencies (CBDC) in the region. El Salvador, the first country to make Bitcoin legal tender, has already shown that there is quite a market for cryptocurrency and blockchain technology in Latin America.
At the Future Innovation Summit in Dubai, Patex won the “Best LATAM Blockchain Ecosystem of the Year”. The ecosystem’s impact has already attracted $20 million in investment from Acura Capital, a fund located in Brazil’s Sao Paulo city, the country’s financial center.