Money on Chain launches decentralised exchange Tex on Bitcoin sidechain RSK

The Bitcoin-collateralised DeFi protocol developer Money on Chain announced the launch of the automated decentralised exchange Tex based on the RSK protocol.

https://t.co/i5T8bi4wqa is live, more pairs in the comming days. @moneyonchainok @RSKsmart

— Maximiliano Carjuzaa ⚡ (@maxcarjuzaa) November 25, 2020

According to Money on Chain representatives, the new platform is distinguished by its own unique approach to the order book.

The platform processes orders in batches at intervals of several minutes. Each execution (cycle) corresponds to the orders submitted to the blockchain.

A trade in a cycle is executed at the same average price across all orders presented by traders. The limits indicate the maximum or minimum acceptable price.

Tex also integrates oracles to monitor price changes between cycles.

In 2019, Money on Chain launched a DeFi platform built on the Bitcoin sidechain RSK to create lending products.

What are sidechains and how do they work?

In April 2020, the Uruguay-based project unveiled the RIF on Chain platform with three tokens that interact with one another, issued on the RSK network.

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