Dexalot, the decentralized cryptocurrency exchange (DEX), announced the launch of its Central Limit Order Book (CLOB) on Arbitrum, according to the information shared with Finbold on April 24.
The launch sets the stage for Dexalot’s expansion beyond the Avalanche ecosystem.
Dexalot on Arbitrum
Unlike typical Automated Market Maker (AMM) DEXes, Dexalot’s CLOB exchange operates on a dedicated application-specific blockchain introduced in February 2023.
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By extending its trading infrastructure to Arbitrum, Dexalot aims to bring a range of powerful features to Ethereum (ETH) Layer 2 (L2) users.
With its unique design, CLOB offers a user experience more akin to centralized exchanges (CEX), allowing users to place orders at specific price points (limit orders), eliminating price slippage and enhancing capital efficiency for traders.
Moreover, Dexalot provides transparent order visibility, competitive prices, and deep liquidity with negligible gas fees.
The move to Arbitrum will grant L2 users access to these features, many of which were previously unavailable.
Additionally, it will provide Arbitrum projects with a reliable platform to launch native tokens.
Strong decentralization
Dexalot promises strong decentralization by placing all orders on-chain with no custodial risk, aligning with Arbitrum’s principles.
Tim Shan, Dexalot COO, expressed excitement about expanding Dexalot’s multi-chain order book to the Arbitrum community, stating:
“We are very excited to expand Dexalot’s multichain order book with commingled liquidity to the Arbitrum community. This is a major milestone for the Dexalot team, and we are very proud to achieve on Arbitrum.”
Peter Haymond, Senior Partnerships Manager at Arbitrum, further highlighted the benefits of Dexalot’s Central Limit Order Book on Arbitrum:
“Dexalot’s Central Limit Order Book on Arbitrum promises fairer pricing, deeper liquidity, and enhanced capital efficiency. Offering a centralized exchange-like experience will move DeFi closer to mass adoption.”
Wrap-up
Since its launch, Dexalot has processed over $1.1 billion in transaction volume.
With its launch on Arbitrum, it expects to significantly increase these volumes while providing a safer and more secure trading environment, reinforcing Arbitrum’s position as the leading L2 solution for advanced on-chain trading.
