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According to CoinMarketCap, there are close to 18,000 cryptocurrencies in existence today. This variety of available coins and tokens has spurred a wave of trading activities, resulting in enormous trading volumes as traders and investors worldwide look to secure their share of the $2 trillion cryptocurrency market.
In 2021, crypto centralized exchanges (CEXs) collectively reported over $14 trillion in trading volume. Centralized exchanges are widely used for the "convenience" factor — that is, the ease of trading and having all your funds within reach without having to pay exorbitant cross-platform fees.
While CEXs have their strengths, however, their one fatal flaw is that they’re subject to interference by third parties such as governments. CEXs are controlled by a central body that can restrict and permit access, or favor a particular group over another based on capital intensity. This is where decentralized exchanges (DEXs) come in. In this article, let’s discuss Position Exchange and its native token, POSI.
Position Exchange protocol is a DEX and trading platform that operates on the Binance smart chain (BSC) and is powered by a pip order book fully on-chain. It responds to the growing population and demands of a decentralized user base wanting platforms void of regulations, restrictions, bias, intermediaries, and other flaws of centralized exchanges.