CoinDCX, India’s largest crypto exchange, is revolutionizing the way its users interact with decentralized finance (DeFi) tokens with the launch of its new ‘Web3 Mode’ feature in its trading app. This new integration provides direct access to over 50,000 DeFi tokens, many of which are not yet available on centralized exchanges, opening up a world of investment opportunities for its 15 million users.
With Web3 Mode, CoinDCX users can easily invest in trending and pre-launch tokens using Indian Rupees (INR) and seamlessly transition to decentralized environments within the same app interface. This feature not only simplifies the purchase of popular tokens like ETH, Matic, USDT, and USDC but also allows for the acquisition of assets in the Web3 space.
To further enhance user engagement, CoinDCX has introduced a reward system where users earn points based on their transaction history within the Web3 Mode. These Okto Points incentivize users to explore and invest in a broader array of digital assets, making the trading experience more rewarding.
Sumit Gupta, Co-founder of CoinDCX, expressed the company’s vision of democratizing access to the Web3 economy through the introduction of Web3 Mode. He stated, “Our vision has always been to democratize access to the Web3 economy. After the launch of Okto Wallet, introducing Web3 Mode is our next step towards establishing CoinDCX as the leading all-in-one Web3 app.”
The introduction of Web3 Mode is supported by Okto Chain’s ‘Orchestration’ Layer, which simplifies the complexities of blockchain interactions. This technology enables users to perform cross-chain transactions, swap tokens across various networks, and verify their identities without the usual technical difficulties associated with blockchain technologies.
Neeraj Khandelwal, Co-founder of CoinDCX and Okto, highlighted the technological advancements that made Web3 Mode possible, stating, “The introduction of Okto Chain’s ‘Orchestration’ Layer last month was a breakthrough in managing multi-chain complexities. This technology now underpins the seamless cross-chain interactions and identity confirmations in Web3 Mode, eliminating the need for additional wallets or network switches.”
Overall, the launch of Web3 Mode promises a range of benefits for CoinDCX users, including no additional transaction fees, on-chain rewards, reduced gas fees, and the ability to maintain self-custody within a secure and familiar trading environment. CoinDCX’s recent launch of CoinDCX Prime, aimed at providing personalized investment services to high-net-worth individuals and institutional investors, further solidifies its position as a leading player in the crypto space.
