Asset Chain Disrupts Nigerian Crypto Trading with Zero-Fee Blockchain Platform
Asset Chain, a pioneering Nigerian blockchain infrastructure company, has unveiled its groundbreaking decentralized exchange (DEX) built atop its proprietary Layer-1 (L1) network. This innovative platform is designed to revolutionize digital asset trading in Nigeria, offering a safer, faster, and more cost-effective alternative to existing methods. The launch signifies a significant step towards fostering financial inclusion and empowering Nigerians with greater control over their assets in an increasingly digital world.
The platform addresses the evolving needs of the Nigerian crypto market, which saw a staggering $59 billion in transactions in 2024. Asset Chain’s DEX distinguishes itself by eliminating transaction fees, making it a compelling option for both seasoned traders and newcomers. This zero-fee model is a significant departure from traditional exchanges, offering a more accessible and user-friendly experience.
Zero Fees, Maximum Efficiency: How Asset Chain Works
Asset Chain’s DEX facilitates direct peer-to-peer (P2P) trading between users, removing the need for intermediaries and minimizing risks associated with traditional financial systems. Users can seamlessly trade between USDT, a widely adopted dollar-backed stablecoin, and cNGN, a Naira-backed stablecoin. This allows traders to buy USDT with cNGN instantly, without incurring any gas fees. The company has cleverly sponsored the gas fees, ensuring a truly free trading environment for its users.
The DEX leverages smart contracts to automate trades, creating a trustless environment where buyers and sellers can transact securely. When a user initiates a trade, the smart contract verifies the details and matches the buyer and seller based on predefined conditions. The exchange then executes automatically, removing the need for intermediaries and minimizing the risk of fraud, a common issue in informal P2P crypto exchanges.
Targeting Nigeria’s Crypto Boom and Beyond
Asset Chain is strategically targeting Nigeria’s vibrant P2P crypto market, a sector that has seen substantial growth but is also plagued by fraud and lack of regulatory oversight. By offering a secure and traceable platform, Asset Chain aims to provide a safer and more transparent trading environment. This initiative not only addresses existing market challenges but also promotes financial inclusion by making digital asset trading more accessible and affordable for a wider audience.
Currently, the platform boasts the participation of 200 traders and liquidity providers, with hundreds more expressing strong interest. Asset Chain has ambitious goals and is targeting ₦100 billion ($65 million) in trading volume within the initial two months of its launch. The company emphasizes a user-friendly interface, mirroring the ease of use found in popular P2P exchanges but enhancing security and prioritizing user control over funds. The platform is currently invite-only, prioritizing a phased rollout to ensure a smooth and secure user experience.
Asset Chain’s launch represents a crucial development for Nigeria’s fintech ecosystem. The platform is poised to redefine how Nigerians interact with digital assets, offering a more secure, efficient, and cost-effective trading experience. As the platform expands and attracts more users, it has the potential to drive significant growth within the Nigerian blockchain and crypto markets.
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