In a groundbreaking move to propel the decentralized finance (DeFi) landscape forward, the Avalanche Foundation has unveiled a generous grant of up to $3 million in AVAX tokens to Dexalot, a trailblazing decentralized exchange (DEX) that boasts a central limit order book (CLOB) on an Avalanche Subnet. This financial injection is a key component of the Avalanche Multiverse initiative, which is dedicated to nurturing the development and widespread integration of Avalanche Subnets. These specialized blockchain networks are engineered to deliver superior performance for distinct applications. Launched in February, Dexalot's platform is revolutionizing the trading arena by enabling traders to execute limit orders, thereby facilitating precise trading strategies and potentially neutralizing the advantages of trading bots. This strategic investment is a testament to the Avalanche Foundation's unwavering commitment to fostering innovation within the DeFi sector and elevating the trading experience in the decentralized realm.

Dexalot made waves with the introduction of its Subnet in February, setting a new standard for digital asset trading with its remarkable speed, throughput, and time-to-finality. The platform empowers users to execute trades at specific price points through limit orders, a feature that sets Dexalot apart from numerous other DEX platforms. With its CLOB model, Dexalot ensures unparalleled order transparency and is ingeniously designed to mitigate the speed benefits of trading bots. The primary goal of Dexalot is to enrich liquidity, enhance transparency, and minimize slippage for its users.

Starting this autumn, the Avalanche Multiverse funds will be distributed over a 12-month period through the Dexalot Incentive Program, contingent upon the Dexalot Subnet meeting certain predefined milestones. Since its launch, Dexalot’s Subnet has successfully processed over 12 million transactions.

Luigi D’Onorio DeMeo, the head of DeFi and DevRel at Ava Labs, highlighted, “Dexalot's fully on-chain, non-custodial CLOB could potentially offer some of the most competitive pricing for swaps across a diverse range of assets within the Avalanche ecosystem. With the recent shifts in the market, there's a growing anticipation for a move towards non-custodial DeFi solutions that promote trustless interactions among decentralized entities. Dexalot is poised to be a foundational component in this new infrastructure.”

Launched in March 2022, the Avalanche Foundation's Avalanche Multiverse initiative aims to accelerate the growth of Subnets, fostering a vibrant ecosystem that supports application-specific blockchains like Dexalot. The initiative has focused its efforts on supporting burgeoning ecosystems such as blockchain gaming, NFTs, DeFi, and institutional applications.

Dexalot exemplifies the capabilities of Avalanche, similar to other projects that have received grants from the Avalanche Foundation, like the decentralized GMX exchange which recently introduced its V2. The unique structure of Dexalot showcases the potential of building on specialized Avalanche Subnets, tailored to meet the specific needs of cutting-edge decentralized applications (dApps).

Tim Shan, Dexalot’s COO, shared, “From the beginning, our vision was to provide users with a centralized exchange (CEX)-like interface within a comprehensive on-chain order book DEX. Achieving this was challenging on other Layer 1 (L1) and Layer 2 (L2) platforms. We are convinced that Subnets represent the best blockchain technology for developing Dexalot. We extend our deepest gratitude to the Avalanche Foundation for their generous incentive program for our community, and to Ava Labs for their steadfast support throughout our Subnet journey.”

For more information, please visit Dexalot's official website.

This content is for informational purposes only and does not constitute an endorsement, guarantee, or warranty by Ava Labs, Inc., Avalanche Foundation Limited, or any associated entities. It is not financial or investment advice. Please refer to this advisory and perform due diligence to fully understand the project's risks and benefits.

About Avalanche

Avalanche is a pioneering smart contract platform that boasts unmatched scalability, completing transactions in under a second. Its innovative consensus mechanism, Subnet architecture, and HyperSDK toolkit empower Web3 developers to effortlessly deploy robust, customized blockchain solutions. Discover limitless possibilities on this eco-friendly blockchain designed for Web3 developers.

About Dexalot

Dexalot represents the forefront of decentralized exchanges, blending the best aspects of traditional centralized exchanges with the benefits of a decentralized on-chain platform. Supported by Avalanche, its Central Limit Order Book DEX ushers in a transparent and open environment where Dexalot's users can securely and quickly trade cryptocurrencies, free from slippage or custodial risks.