REX: Bitcoin's first trustless decentralized exchange
RelayX has launched Bitcoin’s first fully decentralized, trustless, non-custodial, peer-to-peer DeFi order book. The RelayX decentralized exchange, which is being referred to as REX, launched today (March 11th) and already has one trading pair–SHUA/BSV–listed.
The launch of REX was initially announced this morning via a RelayX blog post; the blog post read like a soon ™ announcement, saying,
“RelayX is pre-announcing the announcement of soon to be released RelayX Exchange (REX).”
This lead me, and maybe others, to believe that the actual launch of REX was far off into the future. However, shortly after the pre-announcement was made, RelayX revealed that REX would be launching at 3:30 pm UTC and that SHUA coin would be the first BSV token listed on REX.
It’s important to note that both the REX and SHUA live on the RUN network.
“We use run because it’s the only trustless token solution on the market at this point,” said an individual familiar with the matter.
“We believe the RUN protocol represents the most advanced smart contracting capabilities on Bitcoin to date and RelayX will contribute significant technical, human, and financial investment towards the build out of the RUN ecosystem,” said the RelayX blog post.
REX is only a few hours old, however, hundreds of trades have already been made via REX.
According to RelayX Founder Jack Liu, In Rex’s first 2 hours, 100+ trades and 500+ on-chain transactions were made for a single asset (SHUA).
“There’s so much more we want to do with it to make it more powerful and we will. [But we will] Save that for another day,” said Liu.
“Now that it’s out there in the open, we’re excited for [what] people will build on, beside, and aside from [using] it to make [the] token ecosystem that much better than any other chain.”
REX is the very first trustless, P2P, fully decentralized exchange on Bitcoin; that being said, REX truly fills a gap that was missing in the Bitcoin ecosystem–a token offramp. With the advent of tokens on BSV, members of the Bitcoin community have been eager to get their hands on tokens–which has been easy. What has been challenging is that there was no fortified marketplace where individuals could exit their token positions–but REX changes this.
The launch of RelayX’s REX marks another major innovation milestone in BitcoinSV, and I look forward to seeing how RelayX, REX, and the RUN network evolve over time.
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