- RenEx will allow cryptocurrency traders to place large orders on a hidden order book
- Republic Protocol team claims trades are matched by a highly secure engine built on a multi-party secure computation protocol
- Trades on the RenEx DEX are entirely invisible before execution even to Republic Protocol
Republic Protocol (REN), an open source protocol powering dark pool cryptocurrency trading platforms, has created RenEx, the world’s first decentralized dark pool cryptocurrency exchange, to enable institutional investors and whales to trade crypto ‘invisibly’, as first reported by Finance Magnates.
The First Dark Pool DEX
According to sources close to the matter, Republic Protocol has successfully created RenEx cryptocurrency exchange, the world’s first ever dark pool decentralized exchange.
The Republic Protocol team has reportedly made it clear that RenEx will support a vast array of cryptocurrencies and trades will be utterly invisible to it and the public until they are successfully executed.
The dark pool feature of the RenEx decentralized cryptocurrency exchange makes it possible for the platform to function like no other.
Dark pools or alternative trading systems (ATSs) are private assets trading platforms meant for heavyweight financial institutions. It enables institutional investors to trade anonymously, mitigating the adverse effect slippage has on the markets.
While several centralized cryptocurrency trading venues such as Kraken, Bitfinex and some others have been offering dark pool trading services to large cryptoassets investors, RenEx has gone down in history as the first decentralized DLT-based virtual currency trading platform to achieve this feat.
This goes a long way to show that the cryptospace is growing bigger with each passing day.
RenEX (REN) will Allow Institutional Traders to Place Large Orders
Targeted at institutional investors, high volume traders and crypto whales, RenEX will make it easy for traders to place large trades on an invisible order book, matched by an engine Republic Protocol claims is powered by a secure multi-party computation protocol.
Traders on RenEx are required to undergo KYC and AML checks. The CEO of Republic Protocol, Taiyang Zhang noted that RenEx is designed to be a platform where institutional investors and crypto funds can trade cryptoassets in a “secure, compliant and equitable way.”
REN, an ERC-20 utility token powers Republic Protocol. At the time of writing, the price of REN sits at $0.031780, with a market capitalization of $18,916,992.