In recent years, the field of cryptocurrency has been actively developing with Decentralized Finance (DeFi) as its main theme – the anonymity and freedom of cryptocurrencies.
As of today, the daily total trading volume of DEX is $3.32 billion, triple the amount in January 2024. However, the daily trading volume of just one exchange, Binance, reaches $58 billion, indicating that DeFi and DEX still have enormous potential in the market.
More and more traders, whether retail or institutional, are becoming more experienced and turning to decentralized tools to protect their assets.
Currently, over 50 million active users in the United States and the United Kingdom are unable to trade cryptocurrencies on centralized exchanges due to government and regulatory restrictions, despite strong market demand, leading to billions of dollars unable to circulate.
Why DEX has not surpassed CEX yet:
Despite the grand idea of making cryptocurrencies completely anonymous and accessible to everyone, in the past 5 years, DEX has been unable to address several key issues that hinder its development and surpassing traditional exchanges.
Unfriendly user interface: In terms of user-friendliness, CEX outperforms decentralized exchanges. To start using DEX, one needs to have basic knowledge, learn how to use wallets, bridges, switch networks, and pay high fees. Additionally, the lack of mobile applications that can handle all user tasks simultaneously adds to the inconvenience.
Lack of spot and futures trading: Currently, most DEX only offer currency exchange, without allowing convenient cryptocurrency trading like Bybit or Binance.
Performance and scalability issues: Popular DEX trading platforms are very inconvenient to use due to lagging interfaces, slow website loading speeds, and slow transaction speeds. Asset prices may change during execution of trades. Currently, this is similar to the internet speed in the early 2000s.
Marketing and liquidity issues: Each CEX platform allows influencers to recommend users and earn substantial profits from commissions from each user. DEX lacks this, making it difficult for projects to establish effective marketing strategies, resulting in insufficient user numbers to maintain liquidity for all trading pairs.
What DEX should be like:
DEX should combine all the conveniences of traditional exchanges: user-friendliness across all devices, fast processing speeds, the ability to exchange currencies and participate in trading, and the advantages of DEX: access to cryptocurrencies from any country without restrictions, anonymity, and security.
Introduction to Event Horizon:
To address these issues, we present Event Horizon, a truly decentralized non-KYC exchange built on its own L2 blockchain.
Our goal is to become a leading player in the cryptocurrency market and capture at least 10% of the DEX market.
Event Horizon is a non-KYC decentralized exchange with a user-friendly interface: you can trade futures on your phone without additional steps or questions, completely secure and comfortable.
No KYC: Everyone in the world can access the exchange anonymously.
Providing convenient mobile applications and web interfaces for everyone: no delays, errors, or server crashes during trading.
Easy to use: Trade without switching networks, paying gas fees, or endless trade confirmations. It’s as simple as any CEX.
Hybrid model: Trade directly through decentralized wallets, TrustWallet, or MetaMask, with off-chain order books, on-chain settlement, MPC, and self-custody in a single transaction.
Copy trading (in development): Any user can profit from trading by simply copying top traders who have proven stable returns, without any skills required.
We are building the next generation DEX in the following ways:
Developing our own Matcher solution for off-chain trading, followed by on-chain order execution. This allows us to improve order execution speeds, create a familiar interface like all exchanges, and increase flexibility in order management.
Developing our own L2 Rollup to reduce infrastructure costs and fees, and increase transaction processing speeds. Compared to the Ethereum mainnet (L1), it can reduce transaction costs by 10-100 times. Block mining time will be between 2 to 5 seconds, much faster than traditional networks. The platform will support all the advantages and features of EVM, making development easier with pre-audited solutions and a large number of developers.
Implementing self-custody.
This means that the exchange will not store customer funds. Users will always be the owners of their assets and have full control over their funds.
Introducing Multi-Party Computation (MPC) technology.
Enhancing security and protecting user funds. MPC will allow the distribution of private keys among multiple participants, ensuring the security and decentralization of the process of managing and signing transactions.
Market Entry Roadmap:
Second quarter of 2024:
Launch of the waitlist
Launch of the partner program
Launch of the ambassador program
Recruitment of first and second-tier influencers
Launch of first quarter activities
Launch of the education center
Platform development
Third quarter of 2024:
Launch of second quarter activities
Recruitment of first and second-tier influencers
Platform launch on testnet
Fourth quarter of 2024:
MVP release and launch
Launch of third quarter activities
Trading system goes online
Launch of mobile application
Event Horizon will be launched on the testnet in the third and fourth quarters of 2024.
How can I become an early adopter?
Through the network: invite.eventhorizon.tech/ZcmqFm
Complete tasks to mint NFTs.