Review on Polarity.Exchange by Stephen Toluwani
Polarity, A better option to Traders on the Turtle Network
The Polarity Exchange is a Decentralised exchange built under the framework of the Turtle Network, a side chain of Waves Network. this exchange since the establishment in June 2020 has been the second ranking decentralized exchange for users who operates using the Turtle Network. My very own personal and first experience with this exchange was during its initial launch last year whereby its Turtle Network token was being airdropped to new users. One thing about this exchange is that users can trade against only a stable pair which is the USDT. I for one who likes to trade against a Stable Coin, makes it easy for me to understand the market movements and make this exchange a better option while using the Turtle Network. A great advantage of using this exchange is its low trading fee. Ever since my time in the crypto verse, I have never seen an exchange, a decentralized exchange to be more precise; that charges a fixed fee of 0.1% on every trade that goes on. This fee is one of the lowest you can ever find in any market.
Among the many setbacks this exchange has faced; is its low popularity which is largely due to the effects of it underlying blockchain on which it was built on (Turtle Network) and labelled as an untracked listing by CoinMarketCap are reasons many people don't interact with Polarity Exchange. The exchange is a great use and only if this platform could have been on a different block chain would it have been more successful. Who knows as adoption begins to take place at the surging rates; this exchange might reclaim its former glory.
Pros
- Trading fee is maximally set at $0.01 for every trade made on the Polarity DEX
- The User Interface is very smooth
- Uses different security measures for protecting ones account such as 2FA, access via Private Key etc.
Cons
- Not a popular Dex as it uses a Blockchain that is not too popular either
- Features as an untracked listing on CoinMarketCap despite the fact that trades still go through the exchange everyday
