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ALEX Exchange Opens New Pools and Restores Liquidity
https://ift.tt/SLg2Ns7
Pools for STX, DIKO, and USDA are now available for trading.
This expansion significantly enhances the platform’s offerings, providing users with more options for trading and investment. Let’s explore more about this important announcement from ALEX.
Expanded Trading Options: STX, DIKO, and USDA Now Available
One of the key actions taken is the restoration of liquidity, which is crucial for maintaining an efficient and functional trading environment. By restoring liquidity to the burnt LP tokens with $ALEX, the Foundation has reinforced the security and reliability of the trading platform.
Liquidity is a critical component of any exchange, as it directly impacts the ease with which users can buy and sell tokens. With deep liquidity, traders benefit from tighter spreads and more accurate pricing, making the trading process more efficient and cost-effective.
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On ALEX swaps, users will now be able to trade $STX. This streamlined process is achieved through efficient routing, where trades are processed via $STX -> $ALEX -> project tokens.
What Happened with ALEX?
The security issue that occurred with ALEX exchange stemmed from a vulnerability in the multisig feature in their smart contract code. This allowed attackers to exploit the system and drain funds from users’ accounts. This breach resulted in a significant loss of funds and raised concerns among users regarding the platform’s security measures.
Source: X
ALEX exchange quickly enhanced security, audited smart contracts, and compensated affected users. Despite the incident, ALEX exchange remains committed to maintaining a secure trading environment.
Disclaimer
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June 11, 2024 at 04:43AM
June 11, 2024 at 04:45AM
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