Popular entrepreneur and crypto influencer John McAfee has launched the beta version of his Decentralised Exchange (DEX) on the Ethereum blockchain. Called the McAfee DEX, the platform will have a single platform fee of 0.25% for takers and no maker fees.
The official website states that McAfee DEX will have no limits, will not collect any customer information and will not geo-block any user. In addition, any Ethereum-based token can be added instantly at no cost.
John McAfee took to Twitter to announce the launch of the DEX. In the embedded video, McAfee has denounced government control over currencies and the loss of individual liberty. He went on to add that, “centralised exchanges are our weak point.” His comments are in stark contrast to Apple CEO Tim Cook who recently said that governments should entirely control the issuance of currencies.
The advantage of DEX over traditional crypto exchanges is that they allow users to trade peer-to-peer in a transparent fashion allowing users to be in control of their funds. In addition, they are typically free of government pressure and do not have to conform to strict KYC or geo-fencing norms.
CoinTelegraph reports that DEX platforms accounted for only 19% of the global exchange ecosystem at the start of 2019. But that has not stopped leading exchanges like Binance from building their own DEX.
(Image Credit: John McAfee | Twitter )