Waves Resume Operations as the Hybrid Cryptocurrency Exchange

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Prerna Sengupta
Prerna Sengupta is a writer for Thecoinrepublic. She is a law student at NALSAR University of Law, Hyderabad. She is interested in Tech Law and is especially keen on cryptocurrency, blockchain, and Bitcoin. She hopes to pursue this field in the future as a lawyer.

Waves Resume Operations as the Hybrid Cryptocurrency Exchange

  • Decentralized exchange Waves DEX has resumed operations as a hybrid exchange.
  • The older version has now been completely shut down.
  • The hybrid version is expected to be operational from today onwards.

Decentralized exchange Waves DEX has resumed operations as a hybrid exchange. The hybrid exchange had already been activated, albeit not entirely, before the complete migration had taken place. The older version has now been completely shut down and the hybrid version is expected to be operational from today onwards.

In the announcement, the company also mentioned that the old version of the exchange would be unavailable, and resources would only be provided to facilitate migration. They also mention that user funds will remain unharmed and protected.

The main development team is expected to work on the protocol itself its open and private implementation, sharding and infrastructure whereas a separate, dedicated team which will also consist of Waves core team members will specifically on the development and support of the exchange. 

The new hybrid exchange is said to combine the irreversibility of transactions and safety and client control of assets of decentralized trades with the highlights of concentrated exchanging stages. Waves founder and CEO Sasha Ivanov also commented and said that the original Waves DEX was a prototype.

Now that it has grown they intend to focus on protocol development and hand over the exchange to an external team which is not a part of Waves in order to merge the infrastructure, synchronize development and therefore ensure the success of the new combined product.

The announcement also gives a glimpse into their future plans which include partner and market maker programs also, that Tether (USDT) exchanging will be empowered when the portal goes live in the not so distant future.

New tools for users to generate passive income, including the opportunity to stake stablecoins and collect interest with very low risk were also promised.

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