Ever since the launch of its MainNet, a little over a year ago, TRON’s ecosystem has been growing steadily with a strong focus on decentralization. The Sun-led blockchain already boasts decentralized tokens, applications, smart contracts, and even multiple decentralized exchanges.
One such DEX is Zethyr exchange, which promises to reward its users by distributing 100% of all the revenue, thus giving back to the community that gave it life in the first place.
About the Exciting New Tron-based DEX Zethyr
Zethyr is a pretty young exchange based on TRON’s blockchain, and as such — a part of the TRON ecosystem. It is a decentralized exchange (DEX), which also features a native token, ZTR. However, ZTR had no ICO, IEO, or any other type of token sale. Instead, it is mined with trades, and the tokens can only be released in circulation if people are using the exchange to trade.
This is very similar to how Bitcoin is mined; the only thing is that BTC is not a native coin of any exchange. As like any professional crypto exchange, Zethyr hopes to attract new users and give its token a higher value over time. ZTR tokens can also be staked for gaining TradingPower, EcoPower, or VotingPower.
EcoPower is for those who wish to enjoy economic benefits from the exchange, such as receiving weekly dividends, which are paid out every Sunday. Trading power reduces the trading fees (which are already quite small, being at only 0.1%). As for the VotingPower, it is pretty self-explanatory, and it provides the holder with the ability to participate in decision-making and have a more significant impact on what will be done within the exchange.
Zethyr is already safer than most exchanges since it is a decentralized one. Zethyr Trust is managed by TRON’s own smart contract, meaning that no one can steal it. This even includes the exchange’s developers.
All transactions made within the exchange are stored on top of TRON blockchain, which makes the exchange completely transparent. And, since every user holds their own private key — their funds are completely safe from the exchange, its developers, as well as anyone else.
Zethyr’s YouTube Contest
The exchange is currently holding a YouTube contest that will end on September 10th of this year. The exchange will reward the top 5 videos, each made by a different author, per their popularity. In other words, the video with the most views wins.
Top 5 videos according to YouTube views at 2359 Eastern Time 10 Sep 2019 will receive the following prices:
1st place: 5,000 TRX
2nd place: 2,000 TRX
3rd, 4th and 5th places: 1,000 TRX each
If your video has:
Voice over: +500TRX
Face over : +1,000TRX
— Zethyr Exchange (@ZethyrExchange) August 27, 2019
The rewards for the best videos will come in TRX, with the 1st place being rewarded with 5,000 TRX. The second place will get 2,000 TRX, and the 3rd, 4th, and 5th places will receive 1,000 TRX each. The exchange will also add an extra 500 TRX if the video has the voice of the author, and 1,000 TRX if they record their face, although it should be noted that an image doesn’t count.
It is an exciting way for the exchange for advertising its service and start rewarding the community for helping out, exactly how they’ve promised. The rest of the instructions on how to participate can be found here.
In conclusion, Zethyr exchange appears to be a tremendous new DEX that is just starting off, with a plan to make its platform, as well as its native token, a future hit. The fact that it is based on a trustworthy, popular project such as TRON is undoubtedly going to help, mainly since the TRON community is one of the strongest ones in the crypto industry.
For now, the exchange needs to dedicate its efforts toward growing its user base and token supply, so if there are those interested in helping and becoming a part of its community. Yes, the video contest that’s open right now is doing a lot of good to the exchange already.
Follow Zethyr on Twitter
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.