AllianceBlock backed Nexera DEX eyes institutional adoption with decentralized KYC, AML
AllianceBlock said Nexera offers a decentralized trading experience that can compete with centralized platforms.
DeFi infrastructure provider AllianceBlock has launched the Nexera decentralized exchange (DEX) on Ethereum (ETH) layer2 network, Arbitrum One, and integrated it with Uniswap (UNI) liquidity, according to an Aug. 15 statement shared with CryptoSlate.
The Nexera DEX uses innovative designs incorporating advanced on-chain order book protocol. This allows it to provide deeper and more accessible liquidity for various digital assets.
A notable feature of Nexera is its leveraging of Uniswap V3 protocol’s liquidity. The firm said the integration allows users to place market orders and gain deeper insight into available liquidity at various price points for trading pairs.
According to AllianceBlock, Nexera’s next phase would add the ability to execute limit orders. It will achieve this by adding a stability staking pool and the NXRA token, incentivizing traders to use the platform because they could stake their assets and earn a part of its trading fees.
“Transitioning from market orders to limit orders will give users heightened control and deeper price insights, creating a more efficient trading environment,” it said.
Additionally, the protocol would enable Real World Assets tokenization and introduce innovative DeFi features such as Staking-Enabled On-Chain Orderbooks and Order-Triggering Matching.
AllianceBlock added that Nexera prioritizes optimized liquidity mechanisms with a more basic user interface, allowing it to offer a decentralized trading experience that can compete with centralized platforms.
Nexera wants to entice institutional users by being regulatory compliant
AllianceBlock revealed that one of Nexera’s goals is to become regulatory compliant, which would help attract financial institutions and institutional traders to enter the DeFi scene.
To achieve this, Nexera plans to introduce a decentralized know-your-customer and anti-money laundering process to verify its users. The DEX stated that it intends to keep its users’ right to anonymity by relying on zero-knowledge-proof technology for these processes.
Several DeFi protocols have struggled with the current regulatory environment, with the U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler highlighting that non-compliance was rife in the crypto space.