DEXO is a BEP-20 token, which means it works on the BNB Smart Chain. It has gained popularity among crypto users because it gives holders governance rights over the functioning of the decentralized exchange. Holders of the token also have several options to earn interest with the altcoin. DEXO is one of the altcoins that is likely to appreciate in price in the long term as it is tied to a new and potentially game-changing decentralized exchange: Dexo Exchange. This exchange offers the benefits of a centralized exchange while having the security and transparency of a decentralized exchange. For these reasons, it is likely to gain mass adoption, and this will increase the importance of DEXO token. Other features to be released on the v2 include a bridge which will support many chains, crypto to virtual Visa card option and Dexo plan to go live with swap, farms, pools, bridge, liquidity, staking, and NFT marketplace.
A Bit About DEXO
This altcoin is used on DEXO ecosystem, and it ensures that the decentralized exchange runs smoothly. token is meant to promote the original decentralization goal of crypto. On the exchange itself, you don’t need to register an account or complete KYC procedures.
With DEXO you're powering a centralized like exchange that doesn't hold your assets.CryptoLists.com
DEXO token is a relatively new cryptocurrency, and it isn’t listed on many crypto exchanges. It is a major token on the BNB Smart Chain and has a fixed maximum supply. The smart contract of this asset can be modified, but this requires the approval of other token holders.
Utility of DEXO?
DEXO token fuels the whole Dexo ecosystem, and it works both as a utility and governance cryptocurrency. You can use it for staking in DexoChips Pools. This will allow you to earn free tokens. DexoChips Pools offer high APR with low risk. You can also use the altcoin in Yield Farms, and this will earn you more Dexo tokens.
These altcoins can also help you get discounted fees across the entire Dexo protocol. With the token, you will have exclusive access to all IFO and INO projects. In addition, holding DEXO tokens will give you access to various games and projects. As a governance token, it will allow you to make proposals regarding the ecosystem. You also get to vote on proposals made by other holders of the token.
DEXO Price detailsBSC Contract address: 0xfcfc325875c949f049649101082f703000cb205d
›› Details & Tokenomics
Advantages of DEXO+ The token can be staked for rewards.
+ DEXO has very low transfer fees.
+ You can use it for governance purposes on the exchange.
+ Using it will give you discounts on the transfer fees.
+ The DEXO coin has a fixed maximum supply.
Disadvantages- The high APR for staking may not be sustainable in the long term.
- It isn’t listed on many popular crypto exchanges.
- This altcoin is still very new.
- Investing in DEXO is risky as it can drop in value.
- The token may be used for illegal transactions.
Costs▪ Rated at 9/10
When transferring DEXO tokens, you will have to pay a fee of less than $0.001. Since its inception, the highest transfer fee recorded was $0.005, and this was still very low. It is worth noting that the BNB Smart Chain is known for having some of the lowest transfer fees. You can compare these fees to those of the Ethereum blockchain, which can go to over $20 per transaction.
Reputation and Buzz▪ Reputation rated at 8.6/10
▪ Buzz rated at 8.5/10
This is a popular crypto project. This is primarily because the exchange offers the benefits of centralized and decentralized exchanges. The platform also doesn’t store your cryptocurrencies, meaning there is no risk of losing the tokens to the site. The Twitter page of the altcoin currently has more than 8700 followers, and it was only created in May 2022.
What is Dexo token yield farming?
Yield farming is the practice of lending tokens in order to get high returns. These rewards are given in the form of crypto. You should note that yield farming is a risky and highly volatile application of decentralized finance.
Which blockchain does this token use?
This cryptocurrency uses the BEP-20 standard and lives on the BNB Smart Chain. This is one of the most popular blockchain networks and charges very low transfer fees. You will usually need to pay a fee of only $0.001.
Can I stake Dexo token?
Yes, you can stake these altcoins to earn interest on your holdings. This has to be done on DexoChips Pools, where you will earn a high APR with low risk. You can also use an auto-re-staking feature to compound any tokens staked.
Where can I store my Dexo token?
BNB Smart Chain is a popular blockchain, so many wallets support tokens on the network. Some of these are Ledger Nano X, SafePal S1, D’CENT, MetaMask Wallet, Ellipal Titan, and Math Wallet.
Do I need KYC on this decentralized crypto exchange?
No, this is a decentralized exchange and doesn’t require you to verify your identity or address. You can use it from any part of the world as it doesn’t restrict any country. You also don’t need to create an account to use the platform.
History of DEXO
This token was released in December 2022, and this was when the presale of the altcoin was held. The crypto exchange itself was founded towards the start of 2022.
January The team behind DEXO are moving to a v2 on the mainnet which will bring new improvements. These are to be funded by a sell tax, and include an NFT marketplace and a bridge that supports many different chains.