On October 7th, Dank Signals Token was listed for trading on McAfee DEX platform.
McAfee did it again. After a short season off the radar, the well-known crypto influencer resurfaced with recharged batteries and announced the launch of a decentralized exchange following the creation of a trading platform named McAfee Magic.
“McAfeedex.com beta is live. Play with it.” McAfee said when his DEX went live, and play with it, users did. Just an hour after the announcement, the platform was already suffering its first DDoS attack
McAfee explains that users have nothing to worry about. The growing number of nodes will make it increasingly difficult to perform this type of attack over time, but besides, his exchange’s architecture makes it impossible to lose funds as they are in the blockchain and not under the custody of the exchange or any third party.
The DEX also promises low fees, and no complex compliance procedures. McAfee has aimed to return crypto trading to the free-for-all early days.
Decentralized exchanges on the Ethereum network are relatively small operations. IDEX attracted 443 users on October 7, and ForkDelta had 344 users. Daily volumes also don’t exceed $200,000. Binance DEX, the largest operation running on Binance Chain, trades more than $1.3 million per day.
But McAfee’s approach has a unique element – offering the creation of portals, or copies of the DEX, with access points to the trading smart contracts. This way, the DEX will be theoretically accessible from multiple hosts and locations – hence censorship-free.
It will charge a single platform fee of 0.25% for takers, with no marker fees.
Dank Signals will be working with SwitchDEX in the near future to develop DEX exclusive for this traders knowledge hub - so users can exchange tokens between themselves freely.
In the meantime - Dank Signals Token has risen significantly since the launch of the exchange. Prices per token are strictly set by the user wishing to sell them with no middlemen involved.