TheCryptoUpdates
Press Release

Ultrade Brings The Best DeFi Crypto Trading Tools To Algorand Blockchain

Competition continues to heat up among blockchain ecosystems and scaling solutions. Traders, LPs and builders alike need highly scalable solutions with cheap transactions and high security. Ultrade is about to launch its high-end, all-in-one DeFi trading suite of applications, called the Ultimate Trading suite, on Algorand testnet. The Ultimate Trading suite is designed from the ground up to provide a decentralized, non-custodial alternative to centralized trading, with the same high quality user experience typically reserved for centralized exchanges. 

The Ongoing Growth of DeFi

Cryptocurrency enthusiasts worldwide have taken notice of the decentralized finance opportunities. It is relatively easy to find ways to put one’s crypto assets to good use and unlock a revenue stream. However, that process is only appealing when the network is cheap, efficient, and scalable. Although Ethereum is the biggest DeFi network by Total Value Locked, it is not necessarily the most efficient network due to high fees and a lack of scaling.

Other networks are building momentum in decentralized finance. Scalable L1-Chains and some Layer-2 solutions quickly rose the ranks, including BNB Chain, Tron, Avalanche, and Solana. One Layer-1 network often overlooked is Algorand, an ecosystem representing just over $138 million in Total Value Locked. It is home to dozens of decentralized finance protocols and provides scalability, fast and cheap transactions, and most importantly, what is considered by most experts to be among the top security available in the market.

DeFi on Algorand is about to enter the next stage as Ultrade will be launching on testnet soon. Ultrade is an all-in-one trading suite for decentralized finance that ensures users remain in control over their assets at all times. It features various tools and products, including a limit order book DEX, AMM token swaps, leveraged perpetuals, and an integrated lending marketplace. 

The Limit order book DEX will be the first project to come to the testnet. Token Swaps will follow shortly, with leveraged perpetuals and integrated lending marketplace arriving later this year.. A gradual rollout ensures the Ultrade team can gather user feedback and fine-tune its solutions based on user preference. 

Why Ultrade Is Different

Even though there is substantial competition in decentralized Finance, Ultrade wants to make a positive difference. Unlocking a better DeFi experience is possible through ultra-fast and cheap transactions. With the help of Algorand, transfers are processed within 4 seconds, and fees are kept under $0.002. It is a significant efficiency upgrade over the other top decentralized finance networks. 

Furthermore, Ultrade embraces decentralization by ensuring a non-custodial approach to user funds. Platform participants keep control of their coins at all times, even while engaging in trading. In addition, Ultrade leverages Algorand’s Single-Block Finality to secure transactions in one block. 

Ultrade goes the extra mile by enabling a white-label solution for anyone looking to launch their own DeFi platform. Whitelabeling the Ultimate Trading Suite enables  spinning up a fully branded DeFi platform in days with access to instant liquidity. Moreover, owners of such branded platforms  earn up to 90% of all fees generated by their project without investing in servers or upfront costs and without coding.

Things will get even more interesting with Ultrade’s upcoming dBlocks technology for building custom DeFi orderbook-based trading applications. It universally supports all asset types – token pairs, leveraged perpetuals, synthetics, forex, etc – while reducing development costs and the system handling everything all-chain. All a builder needs is a basic web server to run their application through an accessible frontend. 

Ultrade’s public testnet launch is imminent, with an  exclusive Testnet Early Access campaign for 1,0000 participants starting in the coming week. That campaign will include various giveaways and airdrops to generate more buzz surrounding this DeFi suite coming to the Algorand ecosystem.

Last but not least, Ultrade will introduce its utility token – ULTR – later in 2022. It will be used for all transaction types across the various available products and support governance, staking, market maker benefits, micropayments, and more. 

Keep an eye on Ultrade on Twitter, Telegram, and Discord for the latest news and updates!

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