What is Phoenix? Phoenix is a decentralized exchange with an order book model that aims to eliminate the differences between DeFi and CeFi. So what is interesting and special about Phoenix? Let’s join Weakhand to learn about the operating mechanism and analyze the growth potential of Order B.ok hey.
To understand more about Phoenix, people can refer to some of the articles below:
- What is QuickSwap (QUICK)? QuickSwap Cryptocurrency Overview
- What is Lumina DEX? Lumina DEX Cryptocurrency Overview
- What is Decentralized Exchange (DEX)? The Role of Decentralized Exchanges in DeFi
Phoenix Overview
What is Phoenix?
Phoenix is an Order Book DEX platform built on the clustered Solana Blockchain Ellipsis Labs developed. Currently, Phoenix market for spot assets at lightning speed with virtually zero gas costs. Phoenix allows users to trade token pairs on the Solana network quickly with low price slippage and cheap fees. Users have the trading options of placing a Market Order or a Limit Order.
Phoenix settled the transaction immediately, Maximum composability, data visualization. All market events (limit order placement, limit order cancellation, execution,…) are recorded on-chain, so traders easily query the entire historical state and live of all Phoenix markets.
Phoenix currently does not have a liquidity incentive program. Trading token pairs still have many limitations, including the following pairs: SOL/USDC, WETH/USDC, Bon/USDC, Bonk/SOL, mSOL/SOL, JitoSOL/SOL.
Highlights of Phoenix
- Accessible, intuitive interface.
- Low fees and fast speeds: Phoenix allows token pairs to be traded on the Solana network with very low slippage and fast speeds. This is possible because Solana has high throughput, fast blocks, and low fees.
- Privacy: Phoenix does not require users to provide any personal information (mail, phone, ID) to open a trading account. Users only need to link to the wallet address that integrates Dapps and fees in the wallet.
Development Roadmap
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Core Team
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Investors
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Tokenomics
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Phoenix Project Information Channel
- Website: https://www.phoenix.trade/
- Twitter: https://twitter.com/PhoenixTrade_
- Discord:
Summary
Phoenix is a DEX Order Book decentralized exchange built on the Solana Blockchain. Phoenix provides users with an intuitive, easy-to-use interface, low fees, fast speeds, and low price fluctuations. But currently, Phoenix has very few trading pairs, limited project information channels, poorly written project information, and low trading volume.
Hopefully the article provides readers with basic information about what Phoenix is? To invest in the project, it is necessary to continue monitoring in the near future.
