Sydney, Australia – Amid reports of Ripple potentially acquiring stablecoin issuer Circle and the launch of the first XRPI Futures ETF by Volatility Shares, a new decentralized exchange (DEX) called XenDex is set to launch on the XRP Ledger (XRPL).
The company behind XenDex has announced that the presale for its native token, $XDX, is scheduled to close in just four days, presenting a final opportunity for interested parties to acquire tokens at presale pricing.
XenDex is being introduced as the first comprehensive DEX built directly on the XRP Ledger. It aims to integrate key decentralized finance (DeFi) tools, including AI-powered trading features, lending and borrowing capabilities, and cross-chain swaps. The platform is designed with a user-friendly interface and is built upon the XRPL’s architecture, known for its speed and low transaction costs.
The developers state that XenDex intends to address specific needs within the XRPL ecosystem by offering functionalities such as:
- AI Copy Trading: Allows users to automatically replicate the trades of top-performing wallets.
- Lending & Borrowing: Enables direct crypto asset lending and borrowing on the platform without intermediaries.
- Cross-Chain Trading: Facilitates swapping XRP with tokens on other major blockchains like Ethereum, Solana, and BNB Chain.
- DAO Governance: Gives holders of the $XDX token the ability to vote on platform upgrades and asset listings.
The $XDX token powers the XenDex platform and offers several benefits to holders. These include voting power through the platform’s decentralized autonomous organization (DAO), opportunities for staking and liquidity rewards, early access to new features, and reduced fees for trading, lending, and borrowing activities.
Following the presale, $XDX tokens are slated for listing on several major cryptocurrency exchanges. The announcement lists Binance, Gate.io, MEXC, BitMart, MagneticX, and FirstLedger as anticipated listing venues, which could increase the token’s visibility and trading volume.
XenDex is being developed by a team with prior experience in the blockchain sector. The project is said to have integrations with services like Xaman and Gitbook. The company also notes that independent smart contract audits are underway to help ensure user security.
For those interested in participating in the final days of the presale, the minimum purchase amount is 150 XRP.
The current exchange rate during the presale is noted as 1.25 XRP for 10 XDX tokens.
Detailed instructions on how to set up the necessary trustline and acquire XDX tokens are available on the project’s documentation page.
The announcement indicates that the soft cap for the presale has been reached and the hard cap is nearing completion.
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