Waves DEX, one of the first decentralized exchanges, which allows users to trade cryptocurrency and ICO tokens suddenly shutdown recently. A couple of weeks later, Waves DEX relaunched as Waves Hybrid crypto exchange and trading platform.
A report released by financial and crypto news website, FinanceMagnates, stated that the trading platform is no longer a decentralized exchange (DEX) after converting to an hybrid trading platform.
As a result, Waves DEX has forwarded the old domain name to the newly created platform using the new URL: Waves.Exchange.
According to Waves DEX’s founder and CEO, Sasha Ivanov, all accounts and users funds has been transferred to the new Waves Hybrid Exchange. The old exchange is permanently offline.
“From this point onwards, the old version of the exchange will be unavailable, and the website will offer only functionality to support migration. User funds held on Waves DEX will remain completely safe during and after the process.”
Mr. Ivanov also announced that Waves Hybrid Crypto Exchange team members will be divided in two. One team will be in charge of the new hybrid exchange, and the other will handle core developments.
“Waves DEX was a kind of prototype. Now, after 2 years of operation, it has grown and become a separate project. […] Now it’s time for us to focus on protocol development and hand over the exchange to an external team and community separate from Waves, so we can merge all the infrastructure teams into one, synchronizing development work and taking the combined product to a new level.”
Waves Hybrid Crypto Exchange (Waves.Exchange) aims to make cryptocurrency transactions safe, secure, fast, while users enjoy best of the both world; centralized and decentralized exchange features.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.