DeFo (Decentralized ForEx) combines the power of DeFi tools with classic Forex markets. The DeFo interface provides an opportunity for the exchange (swap) and staking of algorithmic stablecoins pegged to world currencies and based on Neutrino protocol. In order to navigate to this section, you need to go through the following path: Trading > Swap DeFo.

Such type of exchange provides reliability, transparency, and nearly unlimited liquidity at a predetermined rate. For example, Waves.Exchange users already can exchange USDN (soft-pegged to the USD) for EURN (soft-pegged to the Euro) or JPYN (soft-pegged to the Japanese Yen) and vice versa, and the exchange process happens instantly. All stablecoins are pegged to their fiat analogs in relation to 1:1.

The current exchange rates of some stablecoins for others are regulated by the Smart Contract. These rates are tied to the rates of their fiat counterparts in the Forex market and updated once a minute. If your swap was received at the time of the rate update, it will be resolved at the updated rate, which may differ from the previous one.

Important: on Saturday and Sunday from 00:00 (UTC+03:00 Moscow) to 23:59 (UTC+03:00 Moscow), the exchange rates are stable and do not change.

There are fees associated with the use of the DeFo also. These are the transaction fee that the account owner pays to send a transaction on the Waves blockchain, and the Liquidity Provider Fee fee that is charged for each transaction and sent to liquidity providers as a reward, according to the protocol. Liquidity Provider Fee is included in the total amount displayed in the "I receive" field.

In addition to the fact that you can buy USDN on the exchange, there are three more ways to quickly and conveniently get USDN for its further exchange for stablecoins in the DeFo interface. You can buy USDN using your credit card. The purchase process is described in detail in the article - Buy USDN with a plastic card.

Also, you can exchange Waves for USDN using a smart contract. Besides, premium customers have the opportunity to use the OTC service to exchange USDT for USDN at 1:1 rate (the minimum exchange amount is 10,000 USDT).

In addition to the obvious way of making money using stablecoins - "profiting from exchange rate differences", there is also a way of passive earnings.

You can stake your stablecoins with a dynamic rate of an average of 15% annual interest. The interest is paid daily. You can unstake your assets partially or the whole amount at any time.

Trade, earn, and swap your stable crypto assets without the risk of high volatility on Waves.Exchange:

If you have any questions related to Waves.Exchange, feel free to contact us via customer support.

tags: forex currencies swap fiat

Did this answer your question?