Dolomite, a new Loopring-based decentralized exchange (DEX) and a comprehensive portfolio manager that that can be managed directly from user wallets, has now launched.
Features of Dolomite
- First major DEX launching on the Loopring Protocol.
- First DEX to natively integrate Wyre for fiat conversions.
- First DEX to offer negative maker fees.
- First of its kind managed account eliminates the need to wrap ETH, approve tokens, and even hold ETH at all.
- Trade right from MetaMask, Ledger, Portis, Fortmatic, or keystore wallet with no deposits to a smart contract.
- U.S. based, serving U.S. customers in addition to other countries.
- Cash-in and out using a bank account with a 0.75% fee.
- Place and cancel trades instantly and for free.
- Includes built-in portfolio manager.
“Existing decentralized exchanges offer strong security but lack the streamlined user experience and intuitive ease of use of their centralized counterparts… The launch of Dolomite’s Loopring Protocol-based exchange solves many of these issues, and its contribution to the development of truly usable DEXs cannot be understated. It is an evolutionary leap towards making this exciting technology a reality for cryptocurrency users and traders around the globe.”
— Daniel Wang, Loopring Founder and CEO
Dolomite currently offers limit orders and market orders for trading, with stop-limit orders coming soon. Margin trading will also be added offering up to 5x leverage.
KYC
The exchange features a 4-tier KYC process. To get started trading on $300 or less, Dolomite only requires a name, email address, and date of birth. Each higher tier raises the trading limit, with unlimited trading and fiat transfers enabled at the highest tier.
“Our philosophy when it comes to trading pairs, is that we would rather have just a few trading pairs with a lot of liquidity rather than a lot of tokens with little or no liquidity. We’re not just listing tokens for the sake of it. Following this philosophy, Dolomite will launch with only ETH, DAI, and LRC trading pairs, backed by a dedicated market maker to guarantee liquidity at launch.”
– Adam Knuckey, Dolomite co-founder and COO