Komodo, an open cryptocurrency project and blockchain solutions provider, is uniting Shibas worldwide on DogeDEX, a peer-to-peer decentralized exchange powered by the AtomicDEX engine. DogeDEX has already amassed 3,000 downloads and 179,212 swaps of DOGE since its limited release on March 1st.
“Crypto, like the internet, is so much about community and Dogecoin is the currency of the internet. Decentralized exchanges and non-custodial wallets are a few of our specialties and we want to enable Shiba’s considerable fanbase to trade crypto with the very latest technology – atomic swaps,” Said Kadan Stadelmann, CTO at Komodo who created the AtomicDEX engine that will power DogeDEX.
DogeDEX: Shiba-powered Dogecoin wallet and decentralized exchange.
DogeDEX powered by Komodo
The DogeDEX is designed with usability in mind so users can sign up and trade within minutes, all updates to the underlying AtomicDEX engine will automatically update the DogeDEX too, to ensure it remains as efficient and advanced as possible.
The DogeDEX will be available on desktop, via browser, and mobile app. It will also double up as a non-custodial wallet so users can store crypto safely via the platform, and the Komodo engineers are building a fiat on-ramp in the next month so cryptocurrency purchases can be made directly on DogeDEX.
Atomic swaps enable traders to exchange crypto directly, peer-to-peer, without the need for a third party or intermediary.
This permissionless and decentralized system captures the essence of blockchain technology; democratic and transparent record-keeping where the users themselves retain custody.
Komodo performed the very first DOGE to ETH atomic swap back in 2017, having a vested interest in this native internet currency.