September 30, 2021
After China reiterated its hostile stance on cryptocurrency mining and transactions, the global cryptocurrency market capitalization saw a slump of about 9.26 percent. And in an effort to boost the DEX ecosystem in Asia, Starter, an IPO (Initial DEX Offering) launchpad, incubator, and investor network that allows the interoperability of IDO launches on 7 popular blockchains announced the launch of NASDEX, an independently owned and operated decentralized exchange that allows users to trade tokenized stocks on the blockchain through a minting and trading mechanism.
Initially, NASDEX will target tokenized Asian equities trading for investors, having a market cap near $30 trillion. The NASDEX token holders will also share in the platform revenue of NASDEX and offer governance rights to community members, so holders not just benefit from growth in revenue, but are also given the choice to add additional markets, stocks, or features.
In addition, It will allow traders and investors to sell tokenized stocks, trade 24/7, and also buy fractional shares of their favorite stocks. Additionally, NASDEX will compensate traders for their gas fees by rewarding users through liquidity rewards and minting. NASDEX has the potential to include the global equity markets, having a combined market cap of around $100 trillion.
Using this platform, investing and managing both user’s equity and crypto positions across a single platform will be facilitated by simply connecting the required wallets. The rebalancing between crypto and equity portfolios will also be seamless on NASDEX.
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