Non-Custodial DEX To Launch On Ethereum By John McAfee

Non-custodial DEX to finally launch on the Ethereum network by John McAfee after the long anticipation and constant teasers published on Twitter as we read in the ETH News.

The launch is set for 5:00 GMT on Monday and it will be the beta version of the exchange. McAfee will provide support only for Ethereum-based tokens meaning that the revolutionary exchange will be another alternative to the likes of IDEX and EtherDelta including some of the other decentralized non-custodial markets. The non-custodial DEX will provide low fees and simple compliance procedures. McAfee aimed to return the crypto trading to the free-for-all early days but with the harsher regulations coming, we can only guess how long the exchange will survive. Even with the IDEX KYC process, EtherDelta was fined $400,000 for unauthorized crypto trading services. The KYC procedure will likely become inevitable in the future.

The decentralized exchanges on the Ethereum network are relatively small operations. IDEX attracted more than 400 users on October 7 and ForkDelta had about 344. The daily volumes reached up to $200,000 and the largest operation running on the Binance Chain the Binance DEX trades more than $1.3 million per day. McAfee’s approach has a unique element meaning he offers the creation of portals and copies of the DEX with access points to trading smart contracts. As per the reports in the crypto news, the DEX will, in theory, be accessible from multiple locations and hosts meaning it is censorship-free. This is not the first time McAfee attempts to launch and build a DEX. He launched the McAfee magic non-custodial DEX and this one claims to use bot activity and it is powered by the ARB token. The magic exchange is not listed among the recognized market operators.

McAfee has also scheduled the launch of the Freedom Coin for this fall but there is no information on how the coin will be launched or why was it created in the first place. Keep in mind that McAfee has been a controversial person in the crypto community and there were many times when he said to be doing something and ended up really doing nothing at all.