Crodex operates on the Cronos network providing liquidity and transaction features. The service offers exclusive tools for trading and is compliant with the prevailing standard routers and factories. It is also popular for its low fees.
As a decentralized exchange, it uses the (AMM) automated market-making like Uniswap. The AMM system is an advanced technology that allows permissionless digital transactions automatically with the help of liquidity pools. It was launched on November 8, 2021, by a team of 5 members with a collective experience of 20 years. The main objective of the DEX is to provide an innovative DeFi platform and to be the leading provider in the Cronos chain. The vendor does not provide a location address and other company details.
Some of the key features of this DEX are listed below:
- The platform uses the Cronos network.
- CRX is the native token of the exchange.
- The fixed supply of CRX is 100,000 with 5% released as initial liquidity.
- Of the total CRX, 56.34% is reserved for the rewards and yield generation programs.
- A trading tools platform is present with analytics, charts, and other databases.
- The farming platform enables users to earn rewards tokens to be spent on the upcoming feature.
- English is the only language the DEX supports.
How does Crodex work?
The DEX allows for all the following:
1. Trade CRO token for CRX and other tokens the platform is compatible with.
2. Staking at this platform includes LP, single, and NFT staking.
3. Creating a liquidity pool. You can earn a 0.3% fee when you provide liquidity.
With the CROWD launchpad feature, you can use your high-quality projects for generating liquidity to help launch the system on the network using the IDO (Initial DEX Offering) IDO.
What can you buy on Crodex?
This DEX uses the Cronos network which is EVM compatible. The network has a higher transaction speed and is cheaper and greener. CRO is the native token of the platform and it is used for buying the CRX tokens and other tokens like ARMY, ATOM, AUTO, BANK, BNB, BOBA,CGS, CRK, and more.
Is Crodex safe?
This DEX is audited by Hacken. Other than the auditing info, we could not find security-related info on the official site. The vendor does not provide info on the security measures the DEX uses for safeguarding user data and assets.
Crodex fees, compatible wallets, and transactions
We could not find info on the fees the platform charges for transactions. However, liquidity providers can earn a fee of 0.3% of all the trades proportional to what they provide to the pool. The fees are added to the liquidity pool and accumulate in real-time. You can claim the fee when you withdraw the liquidity.
Buying the token on a private sale will give a presale value of $60 per CRX token. The vendor recommends a minimum investment amount of $5000. For the public sale, the price per token is $90 and the minimum investment amount is 1 CRO and the maximum amount is 14300 CRO. The number of tokens allocated for the public presale is 6,660. Metamask wallet and DeFi wallet are the two compatible wallets you can use on this DEX.
What are the ways to trade on Crodex?
The various trading methods the DEX provides include
- Liquidity pool staking allows you to deposit your LP tokens and earn rewards with the swap fees.
- In the single staking process, you can stake your CRX tokens and receive predictable and safe APR without impermanent loss.
- You can deposit your Non-fungible Tokens (NFTs) and generate a passive income that is free of risk.
For support, the vendor provides an email address for inquiries, and for technical difficulties a Telegram channel group is present.
Should you buy Crodex token?
Crodex summaryCrodex summary
- Provides exclusive trading features
- CRX rewards
- Gamified farming
- No info on the security measures
- Lack of pricing details