Gate.io AMA with BRC-20 DEX

Time: Apr 25th, 2024, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with René Van Dijk,CEO of BRC-20 DEX, in the Gate.io Exchange Community.
Official Website: https://brc-20dex.io/
Twitter: https://twitter.com/Brc_20dex
Follow BRC-20 DEX on Telegram and Twitter

Q1: What is BRC-20 DEX and are the components of its eco?

BRC-20 DEX is the leading protocol on the BRC-20 network, designed to make DeFi trading simple and effective, you can currently check out our website here:

https://brc-20dex.io/

Our DEX is already live, investors are able to trade BRC-20 tokens here:

https://www.brc20-exchange.site/

Our Cross-Chain Bridge is already live too, investors are able to trade between BRC-20 and EVM, you can access here:

https://www.brc20-bridge.com/

Now regarding the BRC-20 DEX eco:

BRC-20 DEX Eco components, developed to be helpful for BRC-20 traders and investors:

1. Decentralized Exchange
   The BRC-20 DEX Exchange offers unique spot trading functionality for BRC20 tokens
2. BRC-20 DEX Spot Wallet & Address Scan
   The spot wallet allow users to hold and trade with their assets in the BRC-20 DEX, with the possibility to check out their transaction in the BRC-20 DEX Scan
3. Cross-Chain Bridge
   BRC-20 DEX offers the capability to transfer BRC-20 tokens, such as BTC, ORDI, RATS, SATS, into EVM networks and their native tokens, egld 价格 (ETH), Binance Smart Chain (BSC) and Polygon (Matic).
4. Token Revenue
   Every holder of the BRC-20 token automatically becomes eligible to receive part of the 50% of the total revenue generated by the BRC-20 DEX platform.
5. Leverage Trading
   This innovative feature offers up to 5x leverage trading to investors, allowing them to amplify their exposure to the market and potentially enhance their returns.
6. Token Staking
   BRC-20 DEX provides a staking mechanism that allows users to earn additional rewards by staking their $BD20 tokens.

Q2: How does the BRC-20 DEX affect the decentralization of the BRC20 blockchain?

Sure, let me tell you. BRC-20 DEX significantly boosts the decentralization of the BRC20 blockchain by allowing users to interact directly with each other without the need for centralized intermediaries.

This model not only minimizes reliance on a central authority but also enhances security and distributes power among the network’s participants, making the eco more democratic and resilient against attacks.

Q3: What requirements must I meet to begin trading on the BRC-20 DEX?

Is very easy to start, firstly go ahead to the DEX page https://www.brc20-exchange.site/.

Then to start trading on the BRC-20 DEX, you need to first create a BRC-20 DEX Wallet. This involves setting up and securely storing a 12-word security phrase, which grants you access to your wallet.

After setting up your wallet, you’ll need to transfer funds from an existing BTC wallet, such as UniSat or Xverse, to your new DEX wallet.

Q4: Despite trading with BTC, are the transaction fees on the DEX low?

Yes, the transaction fees remain low even when trading with BTC. Our platform’s all-in-house minimizes transaction fees by allowing users to trade directly from their BRC-20 DEX wallets, which reduces the layers of fees typically associated with transactions. We manage liquidity internally, giving us control over the fees based on market conditions and volatility.

Q5: Are transaction speeds fast on the DEX and across the cross-chain bridge?

Indeed this is an important part of the BRC-20 DEX eco, let me tell you.

Transaction speeds are exceptionally fast on the DEX and the cross-chain bridge due to our unique architecture.

For example, when a user wants to exchange ORDI for BNB, the process involves depositing ORDI into a treasury wallet, minting BNB, and then transferring the new BNB to the recipient’s EVM Wallet. This entire process is streamlined through our in-house technology, ensuring rapid transaction completion.

Q6: Is it possible to list any token on both the DEX and the cross-chain bridge?

Currently, any developer can list their token on both the DEX and the cross-chain bridge, although it’s not fully automated yet. Developers need to provide initial liquidity for their tokens. We are planning to introduce an automated listing feature soon, which will simplify the process, allowing tokens to be listed in just a few minutes following initial approval.

Q7: What are the future developments planned for the BRC-20 DEX eco?

We are developing several new features, which includes more token integration in the DEX and Cross-Chain Bridge. BRC-20 Token Leverage and a great use case we just unveiled yesterday! BRC-20 DEX LBP’s, (Liquidity Bootstrapping Pools).