SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ -- Akash Network, the world's first open-source and decentralized cloud announces its utility token, Akash Token (AKT), is now supported on a second decentralized exchange, Emeris, a portal to cross-chain DeFi. As one of the first tokens available on Emeris, users can now swap, transfer, pool and manage AKT across multiple chains with fewer regulatory restrictions and lower transaction fees.
"Emeris delivers an amazing experience that abstracts incredible complexity with cross-chain DeFi — a true portal for DeFi — powered by the Gravity DEX," said Greg Osuri, CEO of Akash Network. "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."
Secured by over three billion digital assets, the Gravity DEX protocol is unique to other decentralized exchanges in that it uses an Equivalent Swap Price Model (ESPM) to improve price consistency and reduce arbitrage opportunities. 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.
Through flagship features such as Gravity bridge and staking derivatives, due to launch later this year, 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 is used to govern and secure the blockchain while incentivizing its participants through rewards. Emeris is the eighth listing for AKT since its Initial Exchange Offering (IEO) in October of 2020. AKT is currently available on AscendEX, Bittrex Global, BHEX, DigiFinex, Gate.io, Osmosis, and BitMart.
For media inquires, please contact Kelsey Ruiz at (916) 412-8709 or kelsey(at)akash(dot)network.
About Akash Network:
Akash Network, the world's first decentralized and open-source cloud, accelerates deployment, scale, efficiency and price performance for high-growth industries like blockchain and machine learning/AI. The "Airbnb for Cloud Compute," Akash Network provides a fast, efficient and low-cost application deployment solution. Developers can deploy apps to cloud-hosted containers using Akash Network at half the cost of traditional cloud giants like Amazon Web Services, Google Cloud and Microsoft Azure. With 85% of underutilized cloud computing capacity in the 8.4 million data centers, using open-source container technology, Akash Network allows anyone to lease cloud computing resources. For more information visit: https://akash.network/.
SOURCE Akash Network