Top tier Cryptocurrency Exchange, Huobi, partners with Resistance to ensure adequate liquidity on ResDEX
Digital Currency Exchange: Resistance, has just announced a strategic partnership with Huobi. Resistance is a premier cryptocurrency exchange attempting to tackle liquidity problems faced by DEXs.
The team behind the privacy-focused decentralized exchange, Resistance, has secured a strategic partnership with Huobi MENA, the Middle East and Africa branch of Huobi Group.
Huobi Group has generated billions in revenue and have conducted more than 1 Trillion Dollars in trade volume since its launch back in 2013.
A little background: The Singapore-based exchange, Huobi has earned itself a reputation as one of the world leading cryptocurrency financial service providers that are continuing to provide a professional service globally. With offices in Singapore, United States, Japan, Hong Kong, Korea, Huobi Group have expanded its operations due to it growing popularity. Currently this premier exchange has a reach of over 130 countries across the globe, allowing both retail and institutional investors to trade their within their large market.
All eyes are on Resistance, as the private decentralized exchange is scheduled to debut in Q2, 2019 and seeks to resolve all the issues that plague existing DEXs. There’s an unsettling contradiction in the industry, where decentralized exchanges face multiple problems of not having adequate liquidity, poor user interface and experience, and lack advance trading tools - this leads to decentralized assets being mostly traded on centralized exchanges, where the middleman oversees the entire operation (this also takes away the decentralized spirit of blockchain technology). Meanwhile, existing decentralized exchanges suffer from lack of liquidity and poor volumes.
"It's a privilege to be working alongside the Huobi MENA team," said Resistance CEO Anthony Khamsei. "I'm excited to see how together we can finally start addressing liquidity issues on decentralized exchanges."
3rd generation DEXs like Resistance are expected to overcome the problems that are prevelent in the industry in order to compete with existing centralized powerhouses that manage to attract liquidity to their marketplace, e.g. Coinbase, Bittrex and Binance.
The partnerships deal is meant to ensure that Resistance, as a decentralized exchange benefits from Huobi wide range of financial asset, by essentially tapping into the bridge that would grant ResDex access to over 150 Cryptocurrencies and 350 trading pairs.
The private decentralized exchange, ResDEX, will soon be a completely driven and supported by the community. The RES privacy coin serves as an intermediary to facilitate private trading. By collaborating with Huobi, the project looks to overcome some of the shortfalls of decentralized exchanges by ensuring that the DEX will be scalable, fast, cheap and practical enough to become the industry standard.
For more information, regarding the announcement visit: Resistance Partners With Huobi MENA To Solve Decentralized Exchange Liquidity Issues
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So ResDEX is a decentralized Exchange and this partnership with Huobi, is meant to solve the liquidity problem faced by conventional DEXs. This is really a strategic partnership. All decentralized Exchanges at the moment, lack or have just about decent liquidity but none can compete with Centralized Exchanges. Would like to see this change!
I know the Steemit community are big fan of Bitshares Decentralized Exchange! However, I'm certain that the exchanges lacks liquidity or does not support major Altcoin pairs. Having at look at Bitshares, it doesn't seem like the most user-friendly platform. However I'm a big fan of CryptoBridge. Must say that Bitshares Exchanges seems to be more utilized one. Hoping that ResDex can make DEXs popular again
Very interesting to hear about Resistance, I really like the idea of going in to a DAO after and giving it to the community. Keeping my eyes out on this project!
Letting team establish and sort Resistance out! Once they had it over to the community, you'll see ResDEX become more community managed
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STOPThese are the kinds of exchanges we need, and more so supported with liquidity because things like BarterDEX don't even cut it!
Looking out for more developments.
Interesante todo esto, me gustaria que sigan subiendo informacion asi
Congratulations @kieranbaxter!
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I've heard of this recently. Looks like a good product. I think IDEX is still part of generation 1 of decentralized exchanges, more improvements to come.
Yeah, IDEX is definitely a 1st generation DEX. A much bigger fan of Bitshares and Waves DEX, than compared to IDEX. Though, at one point I was a big fan of IDEX, that's because they offered a slightly better user-interface than EtherDelta (one the worst Exchanges I've dealt with so far)
god job
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