Written by Marlon

On November 16, 2022

The New Proton DEX | Decentralized & Compliant

Metallicus is delighted to announce the launch of the Proton Blockchain Decentralized Exchange (Proton DEX), a peer-to-peer marketplace that connects cryptocurrency buyers and sellers with each other while simultaneously ensuring that users remain in control of their digital assets and private keys.

The launch of Proton DEX, marks an important shift in the cryptocurrency landscape, particularly following the collapse of FTX.com, as users actively seek methods to safely trade assets without the usage of intermediaries. Proton DEX effectively removes the middleman risk posed by both centralized exchanges (CEX) and lending platforms.

In addition to the launch of the Proton DEX, the Proton Blockchain Fiat On-Ramp has reduced fees on USDC wire transfers to a $2 flat fee, with no deposit limit until 31.12.22.

Today marks another step forward in Metallicus’ vision in building the world’s most customer-centric digital asset banking network using blockchain technology.

Happy DEXing.

 

A New Home for Trading on Proton Blockchain

For the launch of Proton DEX, we have migrated all features from protonswap.com to the new home of trading on Proton Blockchain, protondex.com. One easy-to-remember URL. 

Proton DEX is truly a one-stop shop for everything you could possibly need for crypto trading on Proton Blockchain. Whether you’re looking to instantly swap tokens without gas fees, add to liquidity pools and farms to earn rewards, or simply earn a variable APY on your USDC balance in Proton Loan, protondex.com has you covered. 

 

What is Proton DEX ?
A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace where transactions occur directly between the users. In contrast to centralized exchanges (CEXs) where users need to deposit their funds before they can trade. Decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform. In the absence of a central authority, DEXs employ smart contracts that self-execute under a set of conditions and record each transaction to the blockchain. These trustless, secure transactions represent an accelerating segment of the digital asset market and are pioneering new financial products. 

 

What are the advantages of Proton DEX ?
Proton DEX is uniquely positioned as it allows users to trade cryptocurrencies without intermediaries and offers attractive fee discounts when staking XPR. In addition to that, Proton Dex traders will take advantage of the speed of Proton Blockchain (instant transactions) and no gas fees for on-chain transactions.

Proton DEX gives you the best of both worlds – the trading features of a centralized exchange and the security of decentralized trading. 

Proton DEX allows users to trade all available cryptos on the exchange and offers what most of the CEXs offer nowadays – Orderbook, different types of orders (Limit order, Market order, Stop loss order, Take profit order) and trading view chart integration. It will also allow users to manage their orders – view or cancel active orders and as well as view order history. 

Trading on Proton DEX requires a WebAuth Wallet. WebAuth is the new industry standard for device authentication, identity management, payment processing, and cryptocurrency transactions for Web 3.0, built on the Proton blockchain. 

With WebAuth.com, you can approve transactions, make crypto payments, link your decentralized identity, verify/add/remove access for all logins, and reject impersonation attempts through the use of your smartphone. The WebAuth wallet is also available for browser, so you can seamlessly trade on desktop without having to authenticate transactions using your phone. 

 

What are the Proton DEX fees?
Below are the different tier categories based on volume and their applicable fees.

Level From (30D Volume in USD) To (30D Volume in USD) Maker Taker
1 (Tier 0) $0 $250,000 0.10% 0.20%
2 (Tier 1) $250,000 $1,000,000 0.075% 0.15%
3 (Tier 2) $1,000,000 $5,000,000 0.0625% 0.125%
4 (Tier 3) $5,000,000 $20,000,000 0.040% 0.080%
VIP $20M+ 0% 0.08%
Market Maker     0% 0%


* Trading fees on Proton DEX are based on the 30-day average trading volume of the user. 

 

Users can get further fee discounts by staking XPR, as follows:

Staked amount Discount
≥ 10,000 3.0%
≥ 100,000 10.0%
≥ 1,000,000 20.0%
≥ 2,500,000 30.0%
≥ 5,000,000 40.0%
≥ 10,000,000 50.0%

 

 

Proton DEX Lifetime Trading Key NFT

There are five limited edition Proton DEX Key NFTs, that give each owner free lifetime trading on Proton DEX while they are in the custody of the Key NFT. Simply purchase the NFT, store it in your WebAuth Wallet and you will automatically benefit from completely free trading. 

Read more about the Proton DEX Key NFT here.

 

Proton DEX Referral Program

With our referral program both the referrer and referee as they both earn rewards from the fees. Referee fees will be reduced by 5% and the referrer will earn 25% of the trading fees. 

This program is applicable only for new wallets/accounts. The referral program only applies to fees earned on the DEX section of Proton DEX and not the other dApps. There is no limit to the number of referrals a trader can make and each account can only use one referral code. Earning rewards as the referee will last for 1 year. Rewards will be paid in traded currency. 

Read more here.

How do I start ?

To start using Proton DEX you need to create an account on the Proton Blockchain. You can do that using any wallet that supports Proton Blockchain but we recommend our own WebAuth Wallet that is available on Android, iOS and web. 

Read more about WebAuth wallet here

Proton DEX requires that users verify their identity in order to safeguard the integrity of the platform and reduce the risk of fraud, money laundering, terrorist financing, and the violation of sanctions. As such users will need to verify their identity, to use the platform. It’s a quick and easy process that takes a few minutes up to an hour. To verify your identity go to https://protonkyc.com, login with your WebAuth Wallet and follow the instructions.

Once you are verified you need to deposit sufficient funds/tokens in your account before placing a trade.

 

What pairs are available to trade on Proton DEX?

The following pairs are available:

 

XBTC/XMD
XETH/XMD
XPR/XMD
XMD/XUSDT

 

What is Metal Dollar (XMD) ?

Metal Dollar (XMD) is a decentralized stablecoin index or decentralized stable coin basket that runs on Proton Blockchain and will become available on more chains. XMD is minted from a basket of only reserve-backed stablecoins. As XMD mints from this basket, it spreads risk across multiple stablecoins, to avoid reliance on a single issuer.The basket automatically rebalances, to maintain a stable $1 peg for $XMD.

The current basket includes $USDC, $PAX, $BUSD, $TUSD

You can mint Metal Dollar $XMD for Proton DEX pairs now at https://metaldollar.com  

 

Welcome to Proton DEX, the future of cryptocurrency trading. 

Protondex.com 

@protonxpr 

 

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