Launch app

FAQ

FAQ

AssetX is a decentralized exchange (DEX) platform on the common good Asset Hub parachain, Secured by Polkadot. This allows users to trade a variety of digital assets directly with each other without the need for a central authority.

AssetX operates using the Asset Conversion Pallet developed by Parity Technologies on the Polkadot blockchain. Users connect their cryptocurrency wallets to the platform and can then trade tokens peer-to-peer. AssetX utilizes automated market-making algorithms to facilitate trades and ensure liquidity.

AssetX offers several advantages:

  • Decentralization: AssetX eliminates the need for intermediaries, providing users with greater control over their assets.
  • Security: Since trades are executed directly on the blockchain, users have reduced exposure to hacks or theft associated with centralized exchanges.
  • Lower Fees: AssetX typically charges lower fees compared to traditional exchanges due to reduced operational costs.

AssetX supports a wide range of cryptocurrencies and tokens based on the Asset Hub it operates on. Commonly supported tokens include Polkadot (DOT), Tether (USDT), AssetX (ASX) tokens, and other Polkadot blockchain-specific assets.

To begin trading on AssetX:

  • Connect your compatible cryptocurrency wallet (e.g., Polkadot JS, Talisman, Fearless Wallet).
  • Browse available markets and select the trading pair you are interested in.
  • Input the amount you wish to trade and confirm the transaction using your wallet.

AssetX leverages blockchain technology, which inherently provides security through Polkadots’ decentralization and cryptography. However, users should take precautions such as safeguarding their private keys and verifying smart contracts.

AssetX employs liquidity pools, where users can contribute their assets to facilitate trading. Automated market-making algorithms adjust prices based on supply and demand, ensuring liquidity for various trading pairs.

AssetX operates as a decentralized exchange and typically does not require KYC verification since users retain control of their private keys. However, regulations and requirements may vary based on jurisdiction and updates to the platform.

Yes, AssetX allows users to participate in staking and liquidity provision. By contributing assets to liquidity pools, users can earn rewards based on trading fees and other incentives.

For additional details, updates, and community engagement, visit the official AssetX website and explore their documentation, whitepaper, and community channels such as social media platforms and forums.