Even though some people may assume the DEW cryptocurrency must have something to do with Mountain Dew, that is not the case. Instead, it is the native token of the so-called Decentralized Exchange of the World. This ERC20 token has quite a few interesting aspects, even though most interest will revolve around the project with which it is associated. Decentralized exchange solutions are the next frontier in the cryptocurrency industry; that much is evident.
What is DEW Exactly?
DEW stands for Decentralized Exchange of the World. This global decentralized cryptocurrency exchange will focus on the trading of futures, global securities, and blockchain assets. It is quite a large project which combines the best of traditional finance with the innovative forms of money associated with cryptocurrency and blockchain. Moreover, the platform is compatible with ETFs, foreign exchanges, stocks, and any other asset that has value. All of this will only happen once the platform comes out of beta, which may take some time.
DEW’s technical aspects
As one would expect from a decentralized exchange model, there is some degree of similarity between DEW and traditional exchanges. Users’ equity is traded in a decentralized manner, rather than having the company act as a custodian of funds. All trades are recorded on the project’s blockchain in real time, and prices will reflect real-time changes as more trades occur. Unfortunately, the project’s website is down as of right now, and thus it is impossible to gauge how much progress has been made so far.
The DEW token is something one can pay attention to as well. There is a maximum supply of 200 million DEW, and the cryptocurrency will serve as the basic token on the exchange. More specifically, all transaction fees on the DEW exchange will be paid using this token. It is also the only token which will be used for trading with all other supported currencies, tokens, futures, stocks, etc. Other than those, there do not appear to be any immediate use cases for the DEW token as of right now.
With so much information being kept in the dark right now, it is a bit unclear what we can expect from the DEW project in the future. As the website is offline and there has been no further communication from the team, it is possible this project is dead in the water. We will have to wait and see how things play out in this regard, but it would be best to do your own thorough research before investing any money in this project as of right now. It is evident some things are not adding up at this time, and caution is always advised.
Is There a Future for DEW?
The way things stand right now, it does not appear people should have high expectations for the Decentralized Exchange of the World. Even though this project had a lot of merit, there is no real use for the DEW cryptocurrency until the platform launches. With all online information having disappeared, it seems there will never be any use cases for this currency, unfortunately. We will keep an eye out for any further updates on this project, but for now, there does not appear to be anything going on where DEW is concerned. It’s a worrisome development, though one that was not entirely unexpected.
Source by Cryptocurrency.net