A few hours ago, the decentralised exchange NewDex announced OTC (Over The Counter) trading with the EOS crypto.
A decentralised exchange allows all transactions to be made without losing possession of the cryptocurrencies and without the need for tedious KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures: all that is necessary to connect, in this case, is an EOS account.
As can be read in the press release, the decentralised OTC desk is open for both EOS and Tether (USDT): indeed, Tether has its own tokens also on this blockchain, although it is not yet very popular as a stablecoin on EOS, partly because there are other projects that emulate this function, such as EOSDT.
Since everything is public, it’s possible to track the latest transactions on the desk, which allows seeing that there have already been some exchanges in the last hours, although nothing substantial. There are no minimum limits for placing offers, which is one of the advantages of decentralisation.
The procedure is not free, as there is a 0.2% fee on the amount being placed, hence the higher the amount, the higher the DEX fee.
All in all, another good news for both EOS and Tether, with the former currently registering an increase of about 1%. Moreover, yesterday EOS was ranked first in the new monthly ranking of the Chinese CCID report, proving to be one of the most innovative blockchains and with a higher degree of development compared to Bitcoin, which instead is only in eleventh place.
With regard to Tether, it was recently reported that amongst the blockchains where the most USDT are traded there is TRON in fifth place, whereas Omni, being also the first blockchain on which it was based, remains in first place. Ethereum-based Tether ranks second.