Bitcoinâ¤com Doubles Down on Self-Custody With Launch of Verse DEX
Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has launched support for Ethereum in its decentralized exchange, Verse DEX, with ~$2 million in liquidity initially distributed across six trading pairs.
The full-featured decentralized exchange will work seamlessly with the self-custodial multichain Bitcoin.com Wallet, providing millions of people with a simple but secure way to permissionlessly swap cryptocurrencies without having to rely on third-party custodians.
âBitcoin.com is a gateway for millions of newcomers to decentralized finance. In line with our mission to create economic freedom in the world, we are committed to providing the tools these people to need to trade and invest without counter-party risk,â said Bitcoin.com CEO Dennis Jarvis. âVerse DEX is just such a tool, and we are excited at the prospect of it enabling permissionless trading for people around the world.â
Support for Ethereum in the Verse DEX comes ahead of the launch of Bitcoin.comâs VERSE, the utility and rewards token for the Bitcoin.com ecosystem. VERSE, like the Verse DEX, will start out on the Ethereum network but soon expand into low-fee alternative layer-one chains.
Strategic buyers purchased $33.6 million in a private sale of VERSE tokens in May. The Verse public token sale is currently underway at getverse.com, where 2% of the token supply is up for grabs in a dynamically priced sale that could see public sale buyers pay a lower price per token than those who purchased in the first round.
Currently anyone can add liquidity to trading pairs on the Verse DEX and earn a share of the trading fees generated. Applications for token listings are being accepted here. Once the VERSE token has launched following the conclusion of the public token sale, liquidity providers to the Verse DEX will also receive liquidity pool tokens which will be redeemable for VERSE and other cryptocurrencies.