Anyone can create a decentralized crypto exchange with new WordPress plugin
Any website now has the capability of easily operating a crypto trading platform
A new tool has been presented to the cryptocurrency market to encourage and assist anyone that wants to be involved in the business. Through a new plugin for the leading back end software, WordPress, a blockchain startup is launching the first crypto decentralized exchange (DEX) plugin. Draper Goren Holm announced yesterday that this plugin is “the easiest way for anyone, not just engineers, to launch their own cryptocurrency exchange.”
“Everyone, not just engineers, can now launch their own crypto exchanges on WordPress using the plugin our team built,” commented Venture capitalist, Tim Draper. This plugin will allow the owner of a website to feature on the site a DEX for cryptocurrencies, tokens and stablecoins to be exchanged. On top of that, the owner of the website can earn fees for the service provided.
The backend of this plugin uses the application programming interface (API) of the decentralized finance aggregator (DeFi), Totle. This service’s API allows the plugin to search the best exchange rates in the DeFi ecosystem and choose the best option to use. Goren Holm founding partner Alon Goren explained why WordPress was chosen, stating, “WordPress powers 35% of the web and is undeniably the easiest, most customizable solution for anyone to power their websites.”
There seems to be a bright future for the DeFi space as it continues to experience non-stop rapid growth. The CEO of blockchain firm Trustology, Alex Batlin, said that most of the DeFi protocols will continue to gain relevance and could soon emerge as the most popular liquidity pool in the world if managed properly.