Secretum, a hybrid multi-product ecosystem on Solana blockchain, advances trading and chatting experience
Secretum, an all-in-one project that combines the benefits of decentralized messaging, a cryptocurrency wallet, and an NFT marketplace, solves the most dangerous Web3 bottlenecks.
DEXes on fire, but hackers still grab millions
In 2021, the trading volume on decentralized exchanges continued rocketing. In April 2021, amid the unmatched spike of cryptocurrency market capitalization, this metric jumped to $3.8 trillion. Major decentralized cryptocurrency exchanges (DEXes)—Curve, Uniswap, and PancakeSwap—increased its trading volume by 550%.
During the same period, CEX trading volume showed less impressive growth. As such, DEXs steal the show from CEXs: traders and their liquidity migrate from centralized platforms to decentralized platforms.
DEXes look more attractive for traders with various levels of experience in crypto and blockchain. KYC neutrality, profitable rates and low fees are core catalysts of this process. At the same time, the most powerful one is the ability of DEXes’ clients to retain 100% control over their keys and assets.
Since DEXs do not use centralized servers and crypto storage, there are no issues with downtime or accessibility. However, trading on DEX also comes with some risks.
First, DEXes are still vulnerable to sophisticated attacks by black-hat hackers. The attackers explore design flaws in the smart contracts architecture of decentralized exchanges (DODO, Poly Network, Badger DAO and so on) or bugs in the protocol’s tokenomics (Avalanche-based Snowdog DAO).
Then, liquidity on DEXs can be “pulled over the carpet” by bad guys from protocol teams.
Secretum, a novel Solana-based ecosystem, addresses all of these limitations and barriers to guarantee its clients an unparalleled trading and chatting experience.
Secretum drives the decentralization segment
Secretum relies on the distributed ecosystem of nodes instead of a centralized server. It now has KYC registration or checks: to log in, users only need a Solana wallet address.
Secretum has an intuitive interface for peer-to-peer trading of Solana-based assets and non-fungible tokens (NFTs). In its chatting module, the two parties can interact only with Solana’s addresses.
Additionally, compared to Ethereum and BSC based DEXs, Secretum achieved the high performance of 50,000 transactions per second with an average of $ 0.00025 in transaction fees.
Also, since all Secretum nodes are interconnected and verified, the protocol is 100% attack resistant: an attacker does not know which node he/she should attack to damage the whole ecosystem.
