WEXO Token available on the BASE blockchain
BLOCKCHAIN CRYPTOCURRENCY ETHEREUM (ETH) TOKEN WEXO19-Jun-2024
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Read moreThe world of cryptocurrencies is dynamically evolving, and the Wexo platform is keeping up with this relentless pace. The development team at Wexo continuously analyzes current trends in the cryptocurrency market to deliver a superior financial experience for its users.
Issuing the WEXO Token on the largest blockchain, Ethereum, within the ERC-20 standard, has proven to be the right step. Thanks to the sophisticated security standards of the Ethereum blockchain's smart contracts, Wexo received an excellent "A" rating after several months of auditing by CertiK.
Aiming for maximum adaptation in global markets, the Wexo team, after detailed analyses of the cryptocurrency market, decided to make the WEXO Token available to users worldwide on the largest decentralized exchange, Uniswap, via the BASE blockchain – the second layer of the Ethereum blockchain.
WEXO Token tradable on BASE blockchain
The new BASE blockchain, currently under the scrutiny of industry professionals as a second layer (L2) of the Ethereum blockchain, is developed by one of the leading and globally recognized exchanges, Coinbase. Base Chain offers excellent stability and minimizes transaction fees compared to the Ethereum network.
Given that fewer projects operate on the new but highly popular BASE blockchain compared to Ethereum, Wexo has a strong opportunity to capture global interest.
Moreover, the BASE blockchain reduces trading and transaction fees on Uniswap, addressing a common concern within the Ethereum community.
The creation of a tradable currency pair on the Uniswap exchange on the Base blockchain was handled by the Wexo team independently using a so-called cryptocurrency bridge, a virtual bridge that sophisticatedly connects otherwise independently functioning and isolated blockchains.
With this step, Wexo opens up even more to the global community, showcasing the technological quality of its developers and the entire team. It is common for high-quality and leading projects to operate on multiple networks. The native and "parent" blockchain for the WEXO Token remains Ethereum, and the bridge does not change the tokenomics.
By making the WEXO Token tradable on the Uniswap DEX via the BASE blockchain, the Wexo platform increases its attractiveness in the eyes of professionals. Looking ahead, Wexo plans to extend its token availability to other networks like Polygon, aiming to cover the entire cryptocurrency spectrum.