Victoria, Seychelles, September 23rd, 2024,
Chainwire
Ebi.xyz, a perpetual DEX built on Arbitrium One,
has announced the launch of its Self-Trade Prevention Mechanism, a
proactive measure that addresses the issue of wash trading within
DEXs. The mechanism’s release coincides with Ebi’s recent
announcement that it registered over 145K new users in under
a week's time on its perpetual DEX, ensuring the flood of new users
are trading with bolstered security and confidence.
Wash trading, where entities buy and
sell the same asset to create a misleading appearance of market
activity, has become increasingly prevalent. A recent study
revealed that nearly 70% of Ethereum-based
DEX liquidity pools executed wash trades since September 2020,
highlighting the urgent need for effective solutions.
Ebi.xyz’s self-trade prevention
mechanism ensures that users cannot trade with themselves on the
same account. If a single account attempts to execute a taker order
against a previously set maker order, the transaction will be
blocked. This measure will enhance market integrity and promote
fair trading practices within ebi.xyz DEX.
“As new users have flocked to Ebi, we are implementing
STP (Self-Trade Prevention) that contribute to a safer trading
environment, truly demonstrating our commitment to providing a
sense of security and transparency for all users,” said Akira Ebi,
Head of PR and Marketing for ebi.xyz. “By preventing self-trading,
we aim to discourage manipulative practices and uphold the
integrity of our platform.”
As Ebi has claimed the title of the
fastest growing DEX by user count, the Self-Trade Prevention
Mechanism is already active on ebi.xyz platform, ensuring that
users new and old can trade with a greater level of confidence. The
move fosters a reliable marketplace where traders can engage
without concerns over potential market manipulation, as is
prevalent among many DEX platforms.
As the platform evolves, ebi.xyz
remains committed to implementing measures that enhance user trust
and support a fair trading experience in the decentralized finance
landscape. Ebi.xyz has also secured a top position among the most
popular derivatives DEXes on CoinMarketCap, ranking twelfth overall,
further solidifying its growing presence in the market.
About ebi.xyz
Ebi.xyz is a non-custodial limit order
book decentralized platform for trading perpetual futures.
Engineered for traders, ebi.xyz offers deep liquidity and access to
prominent new assets in the market. All trades are settled on the
Ebi chain, an Ethereum L2 blockchain powered by Arbitrum
Orbit.
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Contact
Head of PR &
Marketing,
Akira
Ebi
Digital Point Holdings
Ltd
marketing@ebi.xyz