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Demex reviews

Average rating of 83% based on 12 reviews.

Founded 4 years ago in 2020.

Use anonymously. No KYC required.

Decentralised exchange.

Reviewed by Yunis
13 October 2022 (Updated 12 April 2024)

Demex Crypto Platform

Demex is a decentralized cross-chain derivatives trading platform built on top of Cosmos-SDK. The protocol is developed and engineered by Switcheo Labs in 2020 for the purpose of creating a decentralized trading platform that can compete with and outclass centralized exchanges. The protocol uses the Carbon SDK for the transactions. Software Development Kit (SDK) is a pre-written software that acts as a connector tool between the apps. Using an SDK is a very convenient method to adopt a newly written app to an app that is the main source of data. SDK software is like API and it includes an API inside. But not every API is an SDK, and not every API contains SDK in it. Carbon SDK performs data transfer and recognition between the Demex protocol and Cosmos SDK. Cosmos is an open-source framework which means it is a Layer zero protocol. Ethereum, Cardano, Avalanche, and Solana are layer-1 blockchain networks. Polygon, Arbitrum, and Optimism are layer-2 blockchain networks. Layer-0 networks don’t have their own blockchain network but operate on top of a Layer-1 blockchain with pre-defined codes of rules.
 
While the main focus of the platform is providing a high-quality trading experience, the platform also provides earning tools for crypto holders to receive yield from their coins. There are three types of earning tools on the platform, Pools, Staking, and GLP Compounder. Users can lock their tokens to receive yields. Pools are made of cryptocurrency pairs. Unfortunately, the pools don’t have well-known first-class coins except for Ethereum, Atom, USDC, and BNB. Most pool pair tokens are Atom’s ecosystem, such as SWTH, AXL, KUJI, and OSMO. The platform is permissionless and anyone can list a token without going thru a registration process. But the protocol doesn’t support all the Ethereum and BNB tokens yet.
 
SWTH is the Carbon Protocol’s native and governance token. Apps using Carbon foundation need SWTH tokens to pay for the services provided. SWTH tokens are listed on a limited number of exchanges, including Uniswap. The only major exchange that has SWTH tokens listed is the Gate.io exchange. Holders are rewarded with network fees and trading commissions to incentivize the holders. 
 
The good thing about the platform is that it is compatible with the most popular wallets. MetaMask, Keplr, Ledger, Leap, and Encrypted Key are among the options to connect to the platform. Coinbase wallet and WalletConnect are not supported. Deposits and withdrawals on the platform are instant and free of charge except for network gas fees.
 
The platform has a typical perpetual trading user interface with an interactive personal design mode. Users can change the outlook by selecting what windows will place on the screen. Users can also drag and move the windows and personalize the interface which is a great future. The platform is ambitious in the DEX race and has an eye for the top. Demex offers up to 150X leverage and claims to have 10x faster compared to its peer dYdX exchange. Another plus is dated orders future on the platform that many DEXs don’t offer yet.
 
Demex is a pretty young player on the market. There is no audit report on the official website or on the documentation. There is no hack or exploit new about the platform so far. But it is important to remember that decentralized perpetual exchanges are very new without a proven history. Demex is a promising one and seems like we will hear more about it.

Pros

tick $917,210 USD currently invested (TVL)
tick Investments in 7 coin pairs available
tick Operating on Carbon protocol

Cons

cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Demex Staking Yields

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Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
AVA1-SWTH
35.2%
35.2% APY
Carbon
Instant Access
35.2%
35.2% APY
$13,981
KUJI-SWTH
11%
11% APY
Carbon
Instant Access
11%
11% APY
$22,577
ZWAP-SWTH
10.6%
10.6% APY
Carbon
Instant Access
10.6%
10.6% APY
$47,368
USD-SWTH
10.5%
10.5% APY
Carbon
Instant Access
10.5%
10.5% APY
$281,354
WBTC-SWTH
10.2%
10.2% APY
Carbon
Instant Access
10.2%
10.2% APY
$48,293
USD-USC
9.82%
9.82% APY
Carbon
Instant Access
9.82%
9.82% APY
$149,122
ETH-SWTH
8.47%
8.47% APY
Carbon
Instant Access
8.47%
8.47% APY
$116,249
No matching yield products found

Demex Reviews

Based on a total of 12 reviews across the web for Demex we gave the platform an overall rating of 83%.

User Reviews
Overall User Rating
83%
12 reviews 12
Cryptowisser
78%
9 reviews 9
Dapp.com
100%
2 reviews 2
Source Forge
100%
1 review 1
Review Week
Expert Reviews
Coin World Story
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Demex YouTube Reviews

Demex Supported Currencies

Demex supports over 10 currencies including Ethereum, Tether USDt, Cosmos and Osmosis.

Demex Languages

Demex's supports the following languages: English.

Demex Key Data

Company
Legal name switcheo labs
Year founded 2020
Country incorporated in Singapore
Decentralised tick Yes
Non-custodial tick Yes
Products
Savings accounts tick Yes
Crypto to crypto exchange tick Yes
Margin trading tick Yes
Crypto withdrawals to private wallet tick Yes
Fast account verification tick Yes
Futures exchange tick Yes
Chain agnostic cross No
Security
Know your customer cross No
Credit check cross No
Support
24/7 support cross No
Phone support cross No

ADemex is incorporated in Singapore.
ALooking at reviews from across the web, Demex has an average review score of 83% based on 12 reviews.

Useful Links

Demex Contact Details

https://www.demex.co.uk/

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