Akash Network is the decentralized cloud computing marketplace and the first DeCloud for DeFi. The company announced that it is now supported on a second decentralized exchange, Emeris, a portal to cross-chain DeFi. Through Emeris, users can now swap, transfer, pool, and manage AKT across multiple chains with fewer regulatory restrictions and lower transaction fees.
Advantages of Gravity DEX protocol
The Gravity DEX protocol uses an Equivalent Swap Price Model (ESPM) to improve price consistency and reduce arbitrage opportunities among other decentralized exchanges. Batch order execution removes the possibility of front-running, making trading fairer, and provides traders with the capability to build order book trading UIs to get instant market pricing information.
Greg Osuri, CEO of Akash Network, said,
“Emeris delivers an amazing experience that abstracts incredible complexity with cross-chain DeFi — a true portal for DeFi — powered by the Gravity DEX. The protocol makes it substantially easier and cheaper to discover and purchase AKT as well as other tokens from a wide variety of Cosmos projects that historically have been harder to access. We’re proud to be one of the first available assets on the platform.”
Gravity DEX allows for transfers between the Cosmos Hub and Ethereum. This unlocks an unprecedented transfer of value between the Ethereum and Cosmos ecosystems and empowers users to assume long or short positions on the unearned portion of block rewards using their staked tokens.
A default mechanism to store and exchange value, AKT, Akash Network’s native token, governs and secures the blockchain while incentivizing its participants through rewards. Emeris is the eighth listing for AKT since its Initial Exchange Offering (IEO) in 2020.