Earlier on today, the South Korean exchange of Bithumb, launched its very own decentralized exchange. In the news announcement, the team at Bithumb welcomed users to its platform effective October 15th, 2pm (UTC + 8). The full announcement was as follows:
Dear user,
Bithumb’s Decentralized Exchange (DEX) was officially launched on October 15, 2018 at 2 pm (UTC+8)!
Bithumb DEX was launched by Hong Kong-based Blockchain & Fintech BGEX Ltd.
Working with blockchain service innovator OneRoot Network, we are committed to discovering and listing more valuable cryptocurrencies.
Thank you for your trust and support in Bithumb DEX!
Free Transactions For a Month and Airdrops
To further stimulate trading action on the new decentralized exchange, the team at Bithumb has launched the following initiatives to reward users of the new platform:
- Free transaction fee for one month (October 15th to November 15th, 23:59)
- Users will only pay Gas Fees on the Ethereum network
- A total of approximately $ 100,000 (500 ETH) in rewards will be distributed by Airdrop
- Airdrops will be based on trading activities from the 15th of October, till midnight, the 30th of October
- Coins for the airdrop to be distributed to the top 1,000 traders who have traded for the 2 weeks mentioned above
- Traders must have more than 1 ETH worth in trade volume for one of the following coins of DENT, INS, POA20, RNT and WTC to qualify for the airdrops
- Payments will be announced on the 1st of November and will commence on the same day
- Airdrops to be made at random using any of the digital assets of DENT, INS, POA20, RNT and WTC
Ethereum As the First Base Currency
Further analysis of the decentralized exchange yields the fact that Ethereum is the first and only base currency on the platform. The use of Ethereum has been made easier by integrating the DEX with MetaMask. A screenshot of the 10 digital assets paired with Ethereum can be found below. (Digital assets that are part of the airdrop, have a blue A besides them.)
What are your thoughts on the new decentralized exchange by Bithumb? Please let us know in the comment section below.