sludgefeed.com
Leverj, a decentralized crypto exchange that allows for trading of Ethereum (ETH) and ERC-20 tokens, announced this week that it has become the first trading platform to launch on a Plasma sidechain.
LAUNCHED! Leverj has just released the first Plasma based Crypto Exchange onto mainnet! We are building trustless trading at centralized speeds.https://t.co/7VVJmSMPAT
Details in blog post https://t.co/AfyVjVzu5A pic.twitter.com/UcTAcImD0u
— LEVERJ.IO (@Leverj_io) February 19, 2019
According to the announcement, Leverj has built and launched on the Gluon Plasma, a sidechain designed specifically for non-custodial, high-speed, and low-latency trading. The general idea is that by building on an Ethereum sidechain, the platform can properly scale to a point where other decentralized exchanges are currently unable to go.
While still only in beta, the Leverj platform has passed standard security measures audits by Blockchain Labs and all Gluon Plasma contracts have been given the go-ahead.
“Although we are on mainnet, the product should still be considered beta,” says Bharath Rao of Leverj. “The UI needs a bit of TLC and the team will focus on usability over the next several weeks. Exposing the platform to users early helps drive priorities and gives users a voice in platform development.”
In the near future, Leverj is planning to expand the community around Glucon Plasma, adding more outside contributors and projects to begin building tools, block explorers and other supporting applications. Leverj also plans to add leveraged trading, in order to become the first high-speed, non-custodial leveraged platform.
Leverj’s token (LEV) is currently up 1.7% over the last 24 hours on $7.40 of trading volume, giving the micro-cap coin a $1.65 million market cap.