Sai has introduced its new Purpose DEX, offering users a clean and centralized exchange (CEX)-like experience within the cryptocurrency and decentralized finance sector. The platform’s key feature is that all transactions are completed through on-chain settlement, ensuring transparency and security. Alongside the launch, Sai has initiated an on-chain trading competition named “Let’s Go Sai Cho,” with total prizes amounting to $25,000. This competition provides users an opportunity to explore the new DEX platform and enhance their trading skills.
Purpose DEXs, or perpetual derivatives exchanges, are decentralized platforms that allow users to take long or short positions on crypto assets through perpetual contracts. Sai’s new platform is designed for users who seek the convenience and speed of centralized exchanges while maintaining the security and transparency of decentralized trading. The presence of on-chain settlement reduces risks by securely recording all transactions on the blockchain, significantly lowering the chances of fraud or theft. However, the complexity of decentralized platforms and market volatility remain challenges for investors.
Sai’s innovation represents an effort to bridge the gap between centralized and decentralized exchanges in the DeFi sector, potentially attracting more users towards decentralized trading in the future.
Source: decrypt
