DeFi Team Launches a New Layer 2 Exchange on Ethereum (ETH)

In brief:

  • The DeversiFi Exchange is now live.
  • It utilizes the ZK-Rollup Layer 2 Scalability Solution on Ethereum.
  • It can handle 9,000 transactions per second and more.
  • Traders can trade directly from the ETH Wallets such as MetaMask, Ledger, and Keystone.
  • Privacy is further guaranteed through the use of StarkWare zkSTARKS technology.

As the Ethereum community eagerly waits for the launch of ETH2.0 in Q3 of 2020, the DeversiFi Exchange has been launched and utilizes the Ethereum’s layer 2 scalability solution known as ZK-Rollup. The team at DeversiFi has been working on the platform for the last year and has done all the necessary stress tests to allow for a full launch earlier today.

The Co-Founder of Ethereum, Joseph Lubin, notified the crypto community of the launch of DeversiFi via the following tweet.

DeversiFi Offers Fast DeFi Markets to Traders Seeking Quick Settlement

The DeversiFi exchange allows traders to experience the benefit of Decentralized Finance markets with a fast-moving, off-chain order book. With the order book being on Layer 2, transactions can be processed quickly and settled on the Ethereum blockchain. The team further explains that DeversiFi is more than just a Decentralized exchange in that traders will enjoy the transaction speeds seen in centralized exchanges.

For the first time, traders can enjoy all the benefits that they would expect from a legacy large centralised exchange, but with no exchange or counterparty risk.

Traders, therefore, can link the following Ethereum wallets supported by DeversiFi.

The team has promised to add support for additional Ethereum wallets. A screenshot of the DeversiFi homepage can be found below.

DeversiFi Home Page

Additional Privacy Via StarkWare zkSTARKS Technology

Also to note, is that DeversiFi caters for the privacy-conscious traders through its use of StarkWare zkSTARKS technology. The latter is a form of Zero-Knowledge Rollup technology that allows for higher throughput in transactions while at the same time guaranteeing privacy.

StarkWare is the company behind the technology called zkSTARKS or Zero-Knowledge STARKS. The latter is a form of cryptographic proofs that allows for thousands of transactions to be rolled into one batch transaction on the Ethereum blockchain for settlement. This type of scaling is known as ZK-Rollup.

Trading Pairs Available on DeversiFi

DeversiFi currently has the following Ethereum based trading pairs.

  • Nectar – NEC/ETH
  • Maker – MKR/ETH
  • Kleros – PNK/ETH
  • Ox – ZRX/ETH

The exchange also supports the following Tether (USDT) and DAI trading pairs.

  • Wrapped BTC – BTC/USDT
  • Ethereum – ETH/USDT
  • Ox – ZRX/USDT
  • Nectar – NEC/USDT
  • Maker – MKR/USDT
  • Dusk – DUSK/USDT
  • Kleros – PNK/USDT
  • USDT/DAI
  • ETH/DAI
  • MKR/DAI

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.


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