John McAfee launches decentralized crypto exchange
The McAfee DEX runs on the Ethereum blockchain
The highly controversial John McAfee is in the spotlight again, but not for being arrested in Venezuela or the Dominican Republic. This time, it’s because the cryptocurrency fan and outspoken government critic has launched a new crypto decentralized exchange (DEX).
The exchange will run on the Ethereum blockchain and, according to a tweet by McAfee from Saturday, will see a beta launch today. He adds that “it takes time for enough users to join to make it real, but if you play, and be patient,” the exchange might just serve as “the door that frees us from Government’s cornerstone of control: Fiat currencies. It can’t be shut down.”
In keeping with his controversial state of mind, McAfee asserts that there will be no know-your-customer policies put into place, which is certainly not going to go over well with regulators. The DEX charges a single platform fee of 0.25% for takers, but doesn’t charge any maker fees. He adds, “A distributed exchange can’t be shut down by anyone. Decentralized meaning that nobody controls it, distributed meaning that it is everywhere and therefore impossible to stop. We’ve had privacy coins, that’s the other part of this equation, because privacy coins with decentralized, distributed exchanges is [sic] the goose that lays the golden egg for us. We don’t use it though.”
Whether or not the exchange gains traction or not remains to be seen. Other companies, such as Binance, have launched DEX’s, but none have yet seen the adoption that had been anticipated.