Poloniex Acquires TRXMarket

Poloniex Acquires TRXMarket

Poloniex, a digital asset exchanges, announced its acquisition of TRXMarket, a decentralized exchange in the TRON ecosystem. TRXMarket, now named Poloni DEX, will operate under the umbrella of Poloniex. Users looking for decentralized trading services can find them on the Poloniex official website or by going straight to Poloni DEX at poloniex.org.

Throughout the upgrade process, all platform functions remain available and user experience will be unaffected. Poloniex has been working to expand its decentralized trading ecosystem so as to provide users with diversified trading options covering all aspects. After multiple rounds of intensive research, the Poloniex technical team selected TRXMarket, a TRON-based platform.

TRXMarket, the first TRON-based decentralized exchange, executes all transactions via TRX smart contracts that are stored safely and transparently on the blockchain. As it doesn’t require private keys to make a payment, users’ private assets are securely isolated from the exchange. TRXMarket, one of the 127 TRON Super Representatives, boasts a 7-day transaction volume reaching 30 million and has long been a top ten DApp by transaction volume according to DApp Review. The excellent performance of the TRON public chain coupled with its considerable decentralized trading volume and rich experience in operations is exactly what Poloniex needed to expand its DeFi ecosystem. After rounds of negotiations with the TRXMarket team, Poloniex successfully completed the acquisition.

Poloniex’s vision is to reshape the global trust system, to enable trading in every corner of the world, and allow liberated value to flow freely. However it is named, TRXMarket, or Poloni DEX, will remain committed to building a decentralized financial system by sticking to the public chain of TRON as the fundamental infrastructure, and offer users increasingly secure, efficient and decentralized trading experience.

Spokesperson for Poloniex said: "we recognize and value the rate TRON is expanding its ecosystem. Under the leadership of Justin Sun, founder of TRON, TRON’s ecosystem is growing at an exponential speed. After the official launch of TRON public chain in June 2018, within just a year, the total number of accounts on the chain of TRON has exceeded 4.1 million and the daily average number of transactions is over a million, securing a place among the top three public chains in the DAapp ecosystem. Additionally, TRON’s sidechain project, SUN Network, was successfully launched; the circulation of TRC20 protocol-based USDT exceeds 800 million; and, just one month ago, TRON adopted a new Staking mechanism and completed its MainNet upgrade. It’s hard to imagine all these accomplishments TRON has made within just one year. On top of all that, TRON frees its users of transfer fees and transaction delays, which is DeFi-friendly. I think we have every reason to choose TRON as our underlying infrastructure over other public chains who are slow progressing and charge ridiculously high transfer fees. We need to be responsible for all our users".

Justin Sun, founder of TRON said: "I’m very pleased to see that our strategic partner Poloniex successfully acquired TRXMarket, the top DEX in the community. This acquisition means a lot for the TRON ecosystem. It’s not only a move to expand the DeFi ecosystem, but also represents a starting point of TRON receiving recognition from world-leading exchanges. And TRC20-USDT also serves as a perfect solution for decentralized trading platforms to simplify the deposit and withdrawal process. In the future, TRON public chain is bound to become an integral part of all decentralized trading platforms".

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