The new DEX will distribute 80% of trading fees among APH holders, giving liquidity to NEO-based tokens.
Aphelion (APH) is just a day away from launching its long-awaited decentralized exchange (DEX) on the NEO network, lining up a generous fee redistribution system for APH owners. Trading will start this Wednesday at 10:00 PST.
NEO and GAS will be base quote currencies for the new exchange in a unique feature for the marketplace. The platform will start with 12 pairs and include tokens such as Deep Brain Chain (DBC), NKN (NKN), Red Pulse Phoenix (PHX), Phantasma (SOUL), and TheKey (TKY). There will be zero fees for market makers and small APH fees for market takers.
Aphelion will be used actively as an on-ramp to other coins. Initially, accessing the DEX will only be possible through a desktop app.
The NEO blockchain still awaits other attempts at building a DEX, including the Neon Dex, which opened its ICO this September. So far, the NEO ecosystem has lagged in the creation of a DEX, unlike the Ethereum network and possibly Stellar. However, DEXs are still rare and have yet to prove their liquidity and safety.
NEO has a functioning multi-coin DEX in the shape of Switcheo, but other projects are still in their development stages.
In recent weeks, APH has perked up somewhat, adding more than 21% in the past seven days. It traded at $0.067 at 8:30 UTC, up 9.7% over 24 hours.
NEO was changing hands at around $18.31, while GAS climbed 5.99% in 24 hours to reach $6.06. Both assets have been depressed as NEO still has a much smaller ecosystem compared to Ethereum, and the price has behaved accordingly, having difficulties in crossing $20.
Aphelion tokens were distributed in an airdrop earlier this year, starting off with a price of around $0.50. The value will now be dependent on the activity of the exchange. However, the token remains relatively unpopular, requiring a NEO-compatible wallet to hold.