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Velar DEX Introduces Permissionless Pool Creation on Stacks
https://ift.tt/XtUfiAl
Okay, let’s understand why it has become such a massive deal.
It is the first time in the Stacks ecosystem that you can add unique trading pools without seeking permission from any superior entity.
What’s New?
Velar DEX is now the first platform in the Stacks ecosystem to offer permissionless pool creation. You can pair any SIP-010 token with the STX token (Stacks’ native token) and launch your trading pool. All it takes is at least 100 STX and your token of choice—no gatekeepers involved.
This feature makes Velar DEX a massive leap towards decentralization by allowing users to create various markets and participate in an active, open-sourced DeFi ecosystem.
Velar DEX now offers permissionless pool creation – a first in the @Stacks ecosystem.
Create pools pairing any SIP-010 token with STX. True decentralization is here!
Launch your own pool today! pic.twitter.com/wBJbV2iqh0
— Velar (@VelarBTC) December 4, 2024
Why This Is Important for Stacks
This idea is one of decentralization in the Stacks ecosystem. Permissionless pool creation eliminates centralized control, allowing users to decide what tokens to trade and support. Here’s what you can do:
- Create custom STX-paired pools for any SIP-010 token.
- Foster a more diverse market with new trading pairs.
- Take part in shaping Velar DEX’s future.
It’s not only about adding new features; it is about empowering the community and recalibrating what decentralized trading looks like on Stacks.
How to Create Your STX Pool
Creating a pool is easy! Here’s how you can do it:
- Navigate to the Velar WebApp and follow the “Pools” tab to click “Create Pair”.
- Enter the contract address of your SIP-010 token.
- Add the token amount (minimum of 100 STX required).
- Provide liquidity for both tokens and sign the transaction.
- Once confirmed, your pool will appear in the “My Pools” section—congratulations, you’ve just launched a new trading pool.
This is a worlds first on @stacks
No one has done this before.
It was truly needed to fully decentralise every single element of the Velar DEX.
This is for the community.
Go make your pair
https://t.co/AtI3hacDty— visions.btc (@visionsbtc) December 4, 2024
The Future of Stacks DeFi
One of the unique features that distinguished Velar DEX is permissionless pool creation, which is still to come. As the platform enables users to create new STX pools, the opportunities for development and expansion of the Stacks network are limitless. This feature helps Velar DEX and sets up the Stacks ecosystem to continue growing the bounds of DeFi.
Conclusion
Velar DEX’s new feature marks a turning point for DeFi on Stacks. With permissionless STX-paired pool creation, Stacks empowers its community to take control. Whether you’re a seasoned trader or a DeFi enthusiast, this is your chance to be part of something massive.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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December 6, 2024 at 04:47AM
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