What is stableDEX?
There are over 1000 standalone cryptocurrency exchanges, facilitating trading in more than 2000 individual markets. Daily trading volume for cryptocurrencies is equivalent to $39B with the majority of the trading is concentrated around the top 20 exchanges, denominated in multiple currencies and tokens. But these numbers are exposed to high swing price. Significant volatility is often cited as one of the main reasons why many institutions and individuals have remained on the cryptocurrency sidelines to date, and stablecoins have been developed to address this issue.
Stablecoins, as the name suggests, are cryptocurrencies that are designed to minimize price volatility. This minimization of exchange rate volatility (most commonly against the US dollar) places stablecoins in stark contrast with more volatile crypto- assets like bitcoin, which lack any inbuilt price stability mechanism.
As we at stableDEX.io are strong believers in the blockchain technology and the value of cryptocurrencies to support ecosystems, we decided to contribute to the further development of this new technology by providing a decentralized marketplace where all contributors can exchange stable coins with each other P2P.