Asset Exchange Network (AXNET) has expanded its decentralized trading platform by listing Zilliqa's native cryptocurrency, ZIL. The new listing introduces two trading pairs: ZIL/ETH and ZIL/TUSD, providing users with more flexibility and options for trading and investment.
Traders can now deposit, withdraw, and trade ZIL tokens directly on the AXNET decentralized exchange (DEX). The platform combines a high-performance trading engine with a user-friendly interface reminiscent of centralized exchanges, all while allowing users to retain full custody of their assets.
To start trading, users can connect compatible wallets such as MetaMask, Trust Wallet, or Ledger. The platform also supports creating a new Ethereum account or importing a private key—though the latter is generally not recommended for security reasons.
What Is Zilliqa (ZIL)?
Zilliqa is a high-performance blockchain platform designed for scalability and security in an open, permissionless network. Its standout innovation is the use of sharding technology, which divides the network into smaller groups of nodes called shards. These shards process transactions concurrently, significantly increasing the network’s throughput and efficiency.
This approach allows Zilliqa to support high-demand applications such as decentralized finance (DeFi), non-fungible tokens (NFTs), and enterprise-grade solutions without compromising on speed or security.
Why Trade ZIL on a Decentralized Exchange?
Decentralized exchanges offer several advantages over centralized platforms, including:
- Self-Custody: Users retain control of their private keys and funds at all times.
- Transparency: Trades are executed on-chain, providing verifiable and immutable records.
- Reduced Counterparty Risk: There is no central authority that can freeze assets or halt trading.
- Global Access: DEXs are generally accessible to users around the world without strict geographic restrictions.
The introduction of ZIL/ETH and ZIL/TUSD pairs on AXNET’s DEX offers traders more avenues to capitalize on ZIL’s market movements while using either a major cryptocurrency or a stablecoin as a trading base.
Understanding AXNET’s Hybrid Model
AXNET operates under a virtual currency license issued in Estonia and offers a unique hybrid trading environment. Users can seamlessly switch between centralized (CEX) and decentralized (DEX) exchange modes within the same platform.
The centralized division supports trading between cryptocurrencies like Bitcoin and Ethereum, as well as fiat currency pairs such as USD and EUR through established banking partnerships. Meanwhile, the decentralized division enables non-custodial trading with a focus on user security and asset control.
The addition of TrueUSD (TUSD) as a trading pair in the DEX section provides a stablecoin option for traders looking to minimize volatility exposure while operating in a self-custodied environment.
How to Get Started with ZIL Trading on AXNET
To begin trading ZIL on AXNET’s decentralized exchange, follow these steps:
- Connect Your Wallet: Use a Web3-enabled wallet like MetaMask or Trust Wallet to link your wallet to the DEX.
- Deposit Funds: Transfer ZIL, ETH, or TUSD into your connected wallet or directly into your AXNET DEX account.
- Select a Trading Pair: Choose between ZIL/ETH or ZIL/TUSD based on your preference.
- Place Your Order: Enter the amount and price for your buy or sell order and confirm the transaction.
- Monitor and Manage: Track your open orders and trade history directly on the platform.
Remember to conduct thorough research and consider market conditions before executing trades. 👉 Explore more trading strategies
Frequently Asked Questions
What is Zilliqa (ZIL)?
Zilliqa is a scalable blockchain platform that uses sharding to achieve high transaction throughput. It supports smart contracts and decentralized applications, making it suitable for a wide range of use cases including DeFi and digital collectibles.
Why is AXNET listing ZIL?
AXNET aims to provide its users with access to innovative and promising digital assets. Zilliqa’s growing ecosystem and technological strengths make it a valuable addition to the platform’s available markets.
Can I trade ZIL with fiat currencies on AXNET?
While the centralized division of AXNET supports fiat trading, the ZIL trading pairs on the DEX are currently only available with ETH and TUSD. Users can bridge fiat to crypto through the CEX side before using the DEX.
Is AXNET available worldwide?
AXNET serves a global user base, though certain restrictions may apply based on local regulations. Users are advised to review their country-specific guidelines before using the platform.
What makes DEX trading safer?
Decentralized exchanges reduce the risk of fund mismanagement, hacks, or operational failures associated with centralized intermediaries. Users trade directly from their wallets without depositing funds on the exchange.
Are there fees for trading ZIL on AXNET DEX?
Yes, like most exchanges, AXNET charges trading fees for executing orders. The fee structure is available on their official website and may vary depending on the pair and user activity.
Whether you are a long-term holder or an active trader, the availability of ZIL on a decentralized platform like AXNET offers a secure and efficient way to engage with the Zilliqa ecosystem. Always ensure you are using secure wallet practices and stay informed about market developments.