Decentralized Exchange (DEX)

Why Build A Decentralized Exchange (DEX)

Chayn advocates users being in control of their content, data, and likeness. That said, users should be able to directly exchange their assets in a decentralized manner without the need for a third-party to manage the order matching process.

In a DEX, orders are stored on the blockchain and matched automatically through smart contracts. To use a DEX, users typically have to connect their wallet to the platform, which allows them to trade directly from their wallet. This eliminates the need for users to deposit their funds into an exchange, increasing security and reducing the risk of funds being lost or stolen.

Each sentiment tag NFT will become tradeable via the DEX when all units have been sold in the Chayn marketplace. In the interim, sentiment tag NFT holders will have the option to sell their tags on secondary markets like Open Sea.