BRITISH VIRGIN ISLANDS, Sept. 28, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) - Leading multi-chain, community-oriented launchpad, Starter (https://starter.xyz), today announced it will host the launch of the Initial Dex Offering (IDO) of NASDEX, an independently owned and operated decentralized exchange that allows users to trade tokenized stocks on the blockchain through a minting and trading mechanism.” NASDEX, which is designed to serve as a bridge between the crypto and the equity world, seeks to mitigate the limitations of traditional equity exchanges like geographical and portfolio management and investors only being able to buy stocks but unable to sell.
The Asia-market focused DEX aims to remove barriers such as geographical boundaries, cumbersome KYC procedures and allow traders and investors to sell tokenized stocks, trade 24/7 and buy fractional shares of their favorite stocks. Additionally, NASDEX will compensate traders for their gas fees by rewarding users through liquidity rewards and minting. In addition to the improved investor experience and new DeFi features, NASDEX will also be the first Asia focused DEX in the market.
Initially, NASDEX will target tokenized Asian equities trading for Asian investors, having a market cap near $30 trillion. To encourage user engagement, the community and NASDEX token holders will share in the platform revenue of NASDEX, so holders will benefit from growth in revenue. The NASDEX token will also confer governance rights to community members to decide whether to add additional markets, stocks or features. In addition, NASDEX has the potential to include the global equity markets, having a combined market cap of around $100 trillion. The $NSDX tokens will be listed for $0.025.
“Cryptocurrencies, as an asset class, are growing rapidly but lack investment options offered by traditional institutions with equities and bonds,” said Lionel Iruk, Special Counsel at Starter. “As a trade-off, financial institutions are lacking the technology that is pushing forward DeFi and blockchain. NASDEX can bridge and diversify letting users have both of best worlds as they continue on their investment journey.”
“Crypto projects are spreading from the crypto world into the real world with the corresponding expansion of total addressable market (TAM) and investment returns for all involved” said Josh Du, Chief Investment Officer at NASDEX. “Innovations in DeFi and blockchain have the ability to add brand new features onto traditional asset classes. NASDEX’s focus to bridge the crypto world and the Asian equity world will create a much needed product for this large and untapped market.”
The DEX will allow users the ability to trade, invest and manage both user’s equity and crypto positions across a single platform by simply connecting their wallets. The rebalancing between crypto and equity portfolios will be seamless on NASDEX. And the tokenization of stocks will be done through the industry standard debt collateralization method to allow security and flexibility to users, whether one decides to mint or trade, giving the community the power to create as many tokenized stocks as they wish.
For more information about Starter hosting NASDEX’s IDO, please visit https://starter.xyz/.
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About Starter
Starter (https://starter.xyz) is a multi-chain community-driven launchpad, supporting the interoperability of IDO launches on 7 blockchains (Binance Smart Chain, Ethereum, Cardano, Solana, Polygon, Fantom, and Avalanche) and providing projects access to funding opportunities without the hassle of bureaucratic hurdles, complex KYC requirements and a manual selection process. Starter consists of four separate branches: venture arm Starter.capital, decentralized launchpad Starter.xyz, decentralized exchange StarterSwap.xyz, and token vesting and liquidity locking StartVesting.xyz.
ABOUT NASDEX
NASDEX is the premiere decentralized exchange enabling the trading of Asian stocks on-chain. It is designed to serve as a bridge between the crypto world and the equity world. Its core benefits and differentiation include stock yield enhancement through liquidity mining and special focus on Asian stocks. It’s product offering includes ETFs, indices, and additional asset classes and derivatives as well. Website | Twitter | Telegram | Linkedin | Medium
