SmarDex, a decentralized finance (DeFi) platform and exchange, has been expanding its development efforts across multiple blockchains as well as making changes to its native SDEX token.
The project states it has seen significant growth, now ranking among the top 300 cryptocurrencies by market cap. In an effort to enhance value, SmarDex plans to shift SDEX to a deflationary token model.
SmarDex operates as an automated market maker, and claims to have addressed the problem of high impermanent losses that can affect liquidity providers on DeFi exchanges.
The platform is now deploying on additional chains beyond its original Binance Smart Chain implementation. This includes expansion to Arbitrum, Polygon and the BNB Chain.
By broadening its cross-chain presence, SmarDex aims to attract a larger decentralized finance user base. The project was created by a team based in Switzerland.
The DeFi industry has seen increased adoption as users seek alternatives to centralized financial services. SmarDex views multi-chain support as key to reaching more potential users in the space.
As part of its development roadmap, the project team plans to release more features and solutions aimed at enhancing the decentralized finance ecosystem. They also emphasize transparency and security as vital to building user trust.
SmarDex presents its platform as an innovative option as DeFi continues to evolve. The project seeks to play a role in accelerating decentralized finance growth through its expansion efforts and technology improvements. Its next steps may further demonstrate the possibilities of DeFi across multiple blockchains.
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