AQX is launching its New DeFi Platform in Open Beta today ( 18th May 2022), giving interested parties an opportunity to access the AQX cryptocurrency exchange platform.
The team behind AQX first announced its intention to enter the crypto market earlier in April this year, and the project has since managed to attract the attention of various reputable partners, like Presto Labs and other famous investors in the crypto space.
The team behind AQX Exchange states that the abbreviation AQX represents “Access, Quality, and Xtraordinary.” AQX is a crypto exchange platform where both institutions and retail traders can buy, trade, sell, and learn more about crypto.
The platform aims to adhere to its tagline “DeFi All Odds”, and revolutionise the crypto exchange market by providing world-class security, unsurpassed engineering excellence, and industry-leading trading features. As a result, the platform will equip investors with comprehensive crypto services for managing their digital asset portfolios.
AQX seeks to provide solutions to some of the inefficiencies that they believe are currently holding the DeFi industry back. One of the unique features of this platform is the guaranteed high liquidity and tight spreads for traders.
This is made possible from AQX’s partnership with Presto Labs, a reputable liquidity provider. Presto Labs is a quant trading firm that seeks to develop automated trading solutions through data-driven analysis to attain sustainable long-term investment returns.
Presto Labs develops algorithmic decision techniques to achieve what no man could ever do in today’s rapidly changing and incredibly intricate financial sector. The start-up has an average daily trading volume exceeding $3 billion, with $1.100 billion in trading activity last year.
With the backing of Presto Labs, AQX has a solution to solve the liquidity issues often experienced by new cryptocurrency exchange platforms.
AQX also seeks to partner with layer 1 (BTC, ETH) and layer 2 (Lightning Network) networks to provide its users early access to top-tier quality projects. The partnership with these networks will enhance base protocols of AQX to make the platform more scalable and have faster transaction processing speeds.
In addition, the partnership forged will give AQX users exclusive rights to invest in potential projects at its early stages and maximise profitability.
The AQX Exchange Beta Version allows users to create an AQX profile and buy, sell and trade, using its multi-asset collateralized wallet. More so, users who join the platform now will enjoy exclusive privileges.
In addition, users can access bounty programs available on AQX social media platforms in celebration of the Open Beta Launch. For instance, users will enjoy giveaways of up to 6000 worth of USDT airdrops on various AQX social media pages. So, follow AQX’s social media pages to stay updated.
How to Join AQX Beta
To trade futures on AQX Exchange Beta, users first have to log in to the platform. The registration process involves creating a valid username and password and is completed by verifying your email address.
Before trading futures, users need to create margin for their trades. Margin refers to the security that a financial instrument holder must deposit to establish a leveraged position.
AQX has listed various financial instruments such as USD: USDC>BUSD (stablecoin), USDT, BTC, UST, XRP, ETH, TRX, LUNA, ANC, and LINK. All these financial instruments are eligible for margin trading and have a maximum leverage of up to 100x (conditional on each instrument.)
How to Make Deposits on AQX Beta
To make deposits on AQX Beta, simply connect your wallet, find the deposit address and scan the QR code for your preferred coin.
Note that users have to complete KYC level 2 to make successful deposits on AQX. This involves receiving a specified number of confirmations on the blockchain network as specified on the New Wallet Page. It is only then that users get their deposits credited to their accounts.
More so, withdrawals are barred for 24 hours after performing the first deposit to avoid financial crimes like money laundering and phone fraud and preserve consumer assets.
Once you have made a deposit and set up your margin, you are ready to start trading futures on AQX Exchange Beta. The main trading page allows you to view information on the products you want to trade in and your orders and assets, including your wallet balance, margin balance, unrealized P/L, etc.
The Future of AQX
After the Open Beta Launch event on 18th May 2022, AQX will be available to the public to sign up and trade. According to the project’s roadmap, the launch of the AQXT landing page, spot market, Launchpad, and referral program will occur in Q3.
Interested users, investors, and partners should note that there will be an AQX Booth (323-324) at Coindesk Consensus held on 9-12 June 2022 in Austin, Texas. So, if you are interested in this innovative project and want to celebrate other developments in the crypto space, you should definitely plan to attend the Coindesk Consensus.