Could this at long last be the crypto project we've been waiting for?
That’s what some people are saying that are in know.
Imagine a world, where you can trade crypto on Uniswap with absolutely zero gas fees.
I bet that probably got your attention.
Especially if you are a true Uniswap degen looking to profit on quick flips.
Find out today why this project has big moon potential
and could possibly become the main hub of decentralized finance.
Let's get it.
Welcome to BitBoy Crypto!
My name is Ben.
Everyday, I show you how to make money in cryptocurrency.
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Today, we're going to be taking a look at a project that has massive potential.
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along with leverage trading advice and great conversation,
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Now, today's project is Zeedex.
And it is trying to solve one of the deepest thorns in the sides of traders everywhere---
extremely high Ethereum gas fees.
Of course, the dirty little secret of those gas fees is that not only are they expensive,
but they signal slow confirmation time, which, in my opinion, is even worse.
You can miss out on big profits because of it.
If at any point, you want to find out more about Zeedex, you can do that by visiting zeedex.io.
I think if you watch this entire video,
which, by the way, will include a tutorial at the end,
you're going to see why this project should definitely be one on your radar.
I was pretty impressed at the testnet,
which I was given private and exclusive access to try.
Of course, thank you to Zeedex for giving me the scoop and sponsoring this video.
So, what exactly is Zeedex?
Well, as the case for many projects and platforms out there,
there are two separate aspects here.
First, we have the decentralized exchange.
Second, we have the token itself.
The token of Zeedex is ZDEX.
I know it was a little confusing.
The ticker symbol of the token is ZDEX and the exchange is Zeedex.
The exchange itself is what is known as a hybrid decentralized exchange.
The reason why it is technically considered to be a hybrid DEX is because Zeedex is not totally an open listing site such as Uniswap.
This, of course, is what allows Uniswap to be covered up with scammers and rug pullers.
It's so decentralized,
anyone can do it.
And I also think, by the way,
there is a larger conversation here to be had about centralization's flaws versus decentralization's flaws,
but that's for another video.
But when it comes to getting listed on Zeedex,
there is a process.
Projects looking to get listed must fill out a listing request form.
At that point, it is up to Zeedex to decide to list the project or not.
This helps weed out the possible rug pull and exit scammers.
This is definitely a benefit to users I think everyone can see.
Something really interesting about this project is it's actually a fork from Hydro Protocol or HOT.
Not to be confused with Holochain, also going by the ticker HOT.
But we've covered Hydro Protocol before on the channel
and there's a lot to like about it.
So, as a fork of hydro protocol, I think Zeedex already has some distinct advantages.
In addition to just being a DEX,
Zeedex also has some killer features,
such as interchain trading,
an IEO launching service,
staking and much more.
And speaking of staking,
it won't just be staking the ZDEX token.
As many exchanges are exploring how to achieve staking for projects,
Zeedex will be supporting staking for multiple projects.
And this staking will be done on-chain, which is big.
Basically, projects available on Zeedex will be able to create and launch their own staking events on the platform.
The main two competitors to Zeedex are, of course, Uniswap, but also another hybrid exchange IDEX.
When it comes to Uniswap, the difference should be obvious because it's so glaringly huge.
We already talked about the listing differences,
but the other major difference is that, with Zeedex, you aren't paying expensive gas fees.
That's big!
But also, you can do limit orders without a second layer Uniswap solution.
And I know this sounds crazy, but you also don't need liquidity to trade with Zeedex.
They handle the back-end of the trades for you.
When it comes to IDEX, Zeedex has them beat by a mile.
You don't have to deposit or withdraw in Zeedex because your funds are going to stay in your wallet.
IDEX has $5,000 per day limit on withdrawals,
which may sound like a lot to some people,
but it's only a third of a Bitcoin right now.
So, let's chat about the token itself for a bit.
I know you guys prefer utility over speculation.
So this one's for you.
The ZDEX token has tons of utility built in.
The most obvious and useful utility is getting a reduction of fees.
This is a model that has worked for exchange tokens pretty much universally.
The token will have additional utility when it comes to the IEO launching aspect of the project.
I assume you'll be able to purchase the IEOs with the ZDEX token itself.
Big highlight of this project is staking.
So you can bet your bottom staking token that ZDEX will have utility there as well.
The token also has an extremely low market cap of around $650,000 at the time of this recording.
And there's a lot of room to grow.
Considering the fact it is on the Binance Smart Chain or BSC network,
along with the coming launch of ETH 2.0,
this could be a moonshot for sure.
But ZDEX is not constricted to the Binance Smart Chain.
While Zeedex does launch on the 15th this month on the BSC,
it's going to be launching on additional chains as well, including Polkadot and ETH 2.0.
Now, maybe you're starting to understand the scale of this project.
But don't take my word for it.
Let's check it out ourselves with my exclusive inside access to the Zeedex testnet.
I'm special.
Alright, guys. So here I am on Zeedex.
I know you guys can see the only market we have here,
we've got ZDEX, WBNB and USDT.
WBNB is Wrapped Binance Coin.
So, we're going to show you guys how you would wrap those on here.
Unfortunately, I'm having some issues as I'm on the Binance Smart Chain testnet.
I'm having some problems with getting Ethereum in there for the gas fees,
so we'll not be actually able to completely complete the transaction.
But also, guys, you can see here, it says I'm on the wrong network.
I'm not on the wrong network.
That's just kind of a glitch there.
I think because I'm on this specific URL they gave me.
But once you hook up your MetaMask here to Zeedex,
you will see, if you're connected, it has a checkmark right there with a blue circle.
Okay?
Now, if I hit Connect, it's not going to do anything because I'm already connected, so--
That's why I said it's a little confusing because I think this just isn't supposed to be there.
So here, you can-- look over here, you can see your buy and sells.
This is important because this is your limit orders.
You can do limit orders here without needing something like UniTrade for Uniswap.
You can do them right through here through the site.
Now, this is where all the market information is going to be displayed obviously.
As you can see, you've got the order books here that show you where everything is being--
you know, bought or sold.
You can buy WBNB right here.
With the buy orders or the sell orders,
you have limits you don't have market.
I mean, it's really hard to do a market with a decentralized exchange.
So, over here is your wallet in the bottom right hand corner
if we look.
And this is where you wrap and unwrap tokens.
You wrap and unwrap Wrapped BNB, Wrapped Binance Coin,
the same way that you would wrap or unwrap Ethereum or even Bitcoin.
There's Wrapped Bitcoin as well.
We did a whole video on wrapped cryptocurrency.
If you guys want to find that one and check it out, it is back on the videos page.
Just search wrapped.
Wrapped
Like a mummy.
Okay?
That was lame. I'm sorry.
So here, you can check your tokens inside your wallet. You can see, I have one BNB.
You can wrap or unwrap.
Now,
what you would do right here is just press "1",
and then hit "WRAP"
to wrap my lone BNB.
And now, it's gonna pop up here on MetaMask,
but you can see, the amount plus the gas fee is $1.57
and I'm having a lot of problems with the gas limits because I don't have any Ethereum in this wallet.
I've tried sending it over. I'm on the BSC testnet,
having issues with it, don't really know what the deal is.
So once you actually had completed the transaction, you just hit "Confirm".
You'd sign the transaction and boom!
That's how you wrap here on Zeedex.
Now, the important thing is though here, guys, is we're just looking at this layout.
I mean, as you can see, it looks like a lot of other exchanges,
but you've got to remember here, it's a hybrid exchange,
so you don't have to necessarily have liquidity to make these trades.
You can set limit orders.
There's definitely a lot of stuff to like here
about the utility. Now,
when you wrap and unwrap, you may have some gas fees,
but when you're actually doing the trading, you're not gonna have gas fees,
and that's a huge advantage of Zeedex.
You gotta admit,
that was pretty cool.
Being able to trade without gas fees is like receiving manna from heaven.
Those fees and confirmation times have cost me so much money as a trader.
While I can't get those losses back,
I look forward to being able to make trades without them.
Who doesn't like keeping more of their own money?
Let me know what you guys think about Zeedex down below.
That's all I got.
Be blessed.
BitBoy out.