The Atari DEX (Decentralized Exchange) was one of the first tools launched by Atari Chain as part of its cryptocurrency ecosystem. Atari Chain’s primary motive with its set of tools is to become the primary digital currency company in the interactive entertainment industry for all things crypto.
Currently, the DEX enlists three coins: Atari Token, Ethereum, and Fantom. However, it was launched only at the beginning of this month, and the platform will soon add more pairs to the platform.
How It Works
The exchange platform has a highly simplified user interface that makes it much less intimidating for new users. In addition, its design is clean and quite appealing so as to draw the attention of the users from the gaming industry.
Connect your MetaMask Wallet by clicking the ‘Connect’ button. The Wallet comes as an extension to your browser and is necessary so that you can interact with the Ethereum blockchain from a Fantom blockchain.
Select the pair you want to exchange. Select the ‘From’ cryptocurrency with the current pairs available and then indicate the ‘To’ cryptocurrency.
Enter the number of cryptocurrencies you want to exchange. Once you do, click the ‘Swap’ button. The MetaMask pop-up appears with all the details of the exchange you’re making and a gas fee. This gas fee should be paid in Ethereum.
If all the details seem fine to you, then click the ‘Confirm’ button. Then, the exchange will be executed.
Advantages Of Atari DEX Over Centralized Exchanges
One of the most significant advantages of a DEX would be that the users, and not the platform, will have control over their funds. This means the users get complete autonomy.
There have been instances in which the platform freezes user funds in other centralized exchanges and sometimes even disallows them to withdraw them. This wouldn’t be the case with Atari DEX.
Another crucial advantage Atari DEX provides its users with is the safety and security of their funds. With a personal wallet, all funds are stored in users’ wallets rather than in the cold/hot storage of the platform. These automatically make users much less prone to cyber-attacks, compared to the users on centralized exchanges.
Finally, DEX gives more room for privacy. Most centralized exchanges collect private customer information such as social security numbers, addresses, ID verification documents, etc., for processes such as KYC. This way, the users cannot protect their privacy from the platform. However, this isn’t the case with Atari DEX.
Atari DEX is a new platform with enormous potential. In the larger ecosystem, it is a crucial piece of the puzzle that will enable Atari Chain to tap into and become the most prominent crypto company within the gaming industry.