The decentralized finance sector and its platforms and projects are constantly evolving, and some of them have already been able to prove that they are able to compete with global central trading platforms, as did Uniswap, whose trading volume once exceeded Coinbase.

It seems that Coinbase will not remain idly by and wants to compete, by investing yesterday, along with “Dragonfly Capital” and “Huobi” $ 500,000 in the “Dragonfly Capital” platform.KofixIt is a decentralized trading platform.

The “CoFiX” platform founded in March 2020 falls under the umbrella of decentralized finance.

Decentralized finance, also known as “DeFi,” refers to several decentralized crypto-financial products such as loans, decentralized stablecoins, other synthetic derivatives, and decentralized trading platforms, many of which emerged over the past summer.

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The “CoFiX” platform, which is a decentralized trading platform (DEX), will be launched on Friday.

Decentralized trading platforms are platforms that provide unguarded cryptocurrency trading in the sense that they do not own the private keys of the cryptocurrency but the users who hold them as they are funded by their users, who earn rewards in exchange for providing liquidity to the trading pairs.

For your information, Uniswap is not good enough for professional traders.

It cannot place complex deals on it, and currency rates are obtained from central trading platforms or discovered through other trading operations.

CoFix aims to solve these problems as well as improve this type of decentralized exchange by fetching prices from a decentralized oracle protocol called “NEST” built on Ethereum.

NEST uses various financial parameters to create price feeds that are closer to those of central trading platforms.

In theory, the “NEST” benchmark can lower prices and risks for traders and eliminate price arbitrage, and according to the press release, those who provide liquidity to these trades will benefit by receiving sustainable profits.

As noted in the article, “CoFiX” is scheduled to launch on October 9.

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Among the founding members of this new platform, CoFiX, are some of the AlphaWallet project staff, the SECBIT security team and the author of the white paper for Project Zaugust who is also an expert in financial product design, according to CoFiX’s Telegram group.

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