LOS ANGELES, USA, June 15, 2023 (GLOBE NEWSWIRE) -- The entire cryptocurrency market has witnessed a decline in popularity over the past two years due to the deteriorating global economic environment and adverse events within the cryptocurrency industry. However, the market continues to exhibit exuberance when it comes to day trading.
The cryptocurrency trading market can be broadly divided into two categories: spot trading and derivatives trading. According to data from CoinMarketCap and other professional cryptocurrency derivatives platforms, the daily trading volume is around $30 billion for spot trades and $70 billion for derivatives trades. In terms of trading volume, cryptocurrency trading, especially derivatives trading, continues to be of substantial importance within the industry.
According to statistics, the daily trading volume of crypto asset derivatives exceeds hundreds of billions of dollars, which translates into a daily income of hundreds of millions of dollars. Without a doubt, this represents a huge market from all perspectives. GENTLEa perpetual on-chain protocol platform developed by a US tech team, is set to launch soon, preparing to make a foray into the cryptocurrency derivatives market capable of generating hundreds of millions of dollars in profit per day.
Unlike the spot trading market, cryptocurrency derivatives trading is larger in size and still in the process of maturing. Currently, most users rely on centralized contract exchanges which, due to their centralized nature and lack of transparency, facilitate various covert practices and manipulations that greatly harm traders. However, decentralized contract platforms are beset by multiple obstacles, such as inconvenience to use. As such, there is a pressing demand among traders for a decentralized cryptocurrency derivatives trading platform that offers security, transparency, and ease of use. Notably, GENTLE it is precisely such a decentralized platform that is secure, transparent and easy to use.
Regarding the construction of the underlying system, the main functions of MEKE are implemented on Binance Smart Chain (BSC), preventing fraudulent transactions at the source and ensuring fairness in user transactions. Besides, GENTLE uses optimized algorithms to speed up the speed of transactions. Although the speed may still be a bit slower than centralized exchanges, it can fully satisfy the trading requirements of users and provide a smooth and efficient trading experience.
Fully aware of the importance of user experience in trading, MEKE has not only optimized technologies, but also created trading pages and processes that can offer an experience almost as premium as centralized exchanges. First of all, regarding trading approaches, MEKE has adopted the classic order book model, which complies with trading market regulations and gives users a clear view of the number of pending orders. Additionally, MEKE strives to ensure that K-line data and depth map data is presented with the same level of refinement seen on centralized exchanges. It is justifiable to say that as long as users know how to trade on centralized contract exchanges, they can easily switch to MEKE for contract trading. Even new users who have never been involved in centralized contract trading can quickly get acquainted with MEKE and perform contract trading.
In addition to emphasizing fairness, transparency, and user experience, MEKE has also devoted substantial effort to security. Perform the simple cryptocurrency deposit and withdrawal operation. On centralized contract exchanges, the assets you have deposited are held in the custody of the exchanges, where withdrawals may be restricted. However, MEKE removes the need for registration and users can engage in trading using their wallet addresses. Every deposit and withdrawal is managed through the user's personal wallet address. As long as the mnemonic phrase and private key are in good hands, users can be sure that no one else can access their assets. This ensures maximum security of user assets. Regarding the security of contracts, MEKE has passed the security audit of CertiK, a globally recognized auditing company, which guarantees the security of the entire contract system.
Guided pricing of traded assets is the main part of contract trading. GENTLE employs a weighted average algorithm that combines Chainlink Oracle's price feed and real-time transaction prices to ensure that the guided price of your assets is stable.
Today, despite a daily profit of hundreds of millions of dollars generated by the cryptocurrency derivatives market, centralized contract exchanges remain the primary choice for most users. Decentralized contract trading comprises only a mere 2% of the entire market, which means a vast 98% untapped market waiting for MEKE to explore. By combining the transparency and traceability features of decentralized exchanges with the smooth user experience and low barriers to entry associated with centralized exchanges, MEKE undoubtedly enjoys a significant competitive advantage among all contract exchanges.
After years of refinement by the GENTLE technical team, all functions of the platform have been fully developed. However, in order to improve the user experience and strengthen the security of user funds, MEKE will start a public beta test in recent times. After the testing is complete, MEKE will be officially released on BSC after completing the system upgrade and audit.
The MEKE public beta test will run on Binance Chain. Users can participate in the test by deploying Metamask on their PCs or by switching to Binance Chain using conventional wallets on their mobile phones. MEKE is compatible with almost all major wallets on the market. The MEKE public beta test mainly revolves around performing contract trades on the test system using USDT issued by MEKE on Binance Chain. Users with practical experience in contract exchanges will easily complete the test and even those who have never been involved in cryptocurrency contract exchanges can quickly learn how to take the test on MEKE.
MEKE has already established a community where users can freely ask questions and communicate with each other if they encounter any challenges during the test. MEKE is fully prepared to offer users the best possible experience during the public beta test. In addition, MEKE has prepared generous airdrops to reward the test participants.
MEKE is fully prepared and well equipped to dive into the vast cryptocurrency derivatives market that has a daily trading volume of almost hundreds of billions of dollars.
Official website: https://www.meke.io/
CONTACT: James Smith MEKE BLOCKCHAIN Serve at meke.io
