Komodo Platform is ready to soft launch their new user-friendly interface called HyperDEX. Komodo is the home to BarterDex, a precursor to HyperDex that allows direct wallet-to-wallet crypto trades.
BarterDEX enables users to have control of their funds even while trading. A decentralized exchange means users don’t have to give up controls of their private keys. Additionally, DEX reduces transaction fees while removing the requirement for more than one transaction when exchanging coins.
Komodo was the first project to bridge the gap between ERC20 tokens and BTC protocol coins. Notably, BarterDEX supports over 95% of all tokens and coins in existence through atomic swaps.
Both HyperDEX and Komodo’s decentralized ICO application are powered by “atomic swaps” which aims at removing another set of middlemen. Atomic swaps allow automatic, wallet-to-wallet trades between assets on two different blockchains–for example, using bitcoins to purchase tokens from the Ethereum blockchain. Before Atomic swaps, such trades could only be coordinated via an exchange.
Until now, ICOs have been limited by the number of currencies which could be used for investment. For ICOs hosted on a more obscure blockchain, an investor might have to pass through three or four different currencies before investing. Atomic swaps allow direct exchanges between (almost) any two cryptocurrencies.
In March 2018, Komodo Platform partnered with ValueNet Capital, a venture capital fund based in Beijing. The relationship would help Komodo get a risk assessment and strategic consulting. Earlier this month, Komodo made headlines in the crypto ecosystem by launching Blocnation, world’s first decentralized ICO (dICO).