Solana-built decentralized exchange uses AI to make trading more accessible
With the help of artificial intelligence, one DeFi protocol is eliminating the barriers to trading.
Decentralized exchanges (DEXs) empower users by getting cryptocurrency assets into the hands of more people.
One platform is attempting to make the trading of crypto more accessible and straightforward with the use of artificial intelligence. Currently, new users must learn about markets and the assets they want to trade, adding to the barriers of getting started.
The decentralized exchange, Soldex, is eliminating these barriers by giving traders the capabilities to use AI-powered trading algorithms developed by users.
Beyond its innovative AI trading capabilities, Soldex offers many additional features over other DEXs. Since it is natively built on the Solana blockchain, it resolves many of the infrastructure issues apparent in older systems. It is relatively quick and cheap to use compared to anything built on Ethereum (ETH).
To remain decentralized, the internal infrastructure consists of smart contracts and the use of oracles.
Throughout the last decade, exchanges continued to evolve to keep pace with the development of the crypto market. The team at Soldex shares, on their platform, “you can experience real-time transactions, conveniently deposit using your exchange wallets and make light-speed swaps. It also allows investors to participate in community governance and incentivized liquidity. The latter means that users can lock their funds for a certain period of time and earn interest on the investment.”
Leveraging artificial intelligence
In general, trading financial assets is a complicated task filled with mixed emotions from people. Unfortunately, emotional trading is one of the biggest mistakes people make. To remove the possibility for emotions to influence trading, artificial intelligence can eliminate the feelings and sentiments of real people and make tough decisions as they arise.
The objective of Soldex is to use a neural network algorithm to work on all market conditions. The algorithm will be able to analyze data about the market, make predictions about risks and buy and sell assets on the user’s behalf. As an automated trading suite, it will gather expert data and continue to develop its learning capabilities.