Aaron Levie Yahalom will take over the development of LocalTrade
LocalTrade is an exchange that offers a new vector for the cryptocurrency market. Recently traders got the news – LocalTrade LLC has acquired a crypto exchange. The new management has its own vision of the industry in general, so we expect digital cash and blockchain technologies to become more available for everyone.
The position of the COO was taken by Alexandra Buimister, who has vast experience in the financial field as a financial editor and researcher. Among other achievements, she is also a founder of alternative bank facilities and has taken senior positions in world-class companies such as Forbes Latvia & Finland, Supreme Group, CROWDESTOR, BCA Research (Euromoney PLC), [ncrypto.io] (http://ncrypto.io/), and others.
Aaron Levie Yahalom, who is currently a CEO in LocalTrade, the company with headquarters located in Europe, has taken over the development of the company. Aaron is a pro in marketing, and his numerous crypto and financial projects were always at the top. Among them is PureFi, the first and single protocol for the introduction of AML technologies to DeFi, where Aaron holds the position of RegTech Strategist.
The news about new management was accepted with enthusiasm. The trader community is dying to see all the discussed innovations.
Aaron Levi Yahalom on Future LocalTrade Development: What Will It Be Like?
Aaron told us that they have reconsidered the concept of the crypto industry.
‘We see the cutting-edge product as fast, easy, comfortable to use, and intuitive. So we are glad to offer a totally new product that was designed to make crypto buying and selling fast and easy so that users could benefit from it and operate their assets safely. We bet you have never seen anything similar,’ says LocalTrade CEO.
To begin with, this line of effort includes improving security aspects and the general level of convenience when using the platform. LocalTrade aims at contributing to the fintech industry and show the full potential of DeFi which is more than just an element of the fintech sector. It is a new method that offers blockchain technology as a key to solving problems in the industry. DeFi services do not presuppose any mediators. They have smart contracts with the possibility to make trust protocols for those purposes. The decentralized finance technologies also eradicate the possibility of being tricked by frauds and, consequently, avoid the loss of funds. All the transactions are performed by users using their eWallets.
LocalTrade also aims at introducing Decentralized Exchange (DEX) in fall 2021. These exchanges claim not to store any private information, however, they still have a few drawbacks.
The main flaw of decentralized exchanges is the restricted number of available trading pairs and assets. DEX trades with the help of liquidity pools and AMM, or Automated Market Makers. To add another pair to the exchange, you’ll need to use a smart contract pool and provide adequate liquidity. In case non-optimized contracts are used in DEX, the fees will be huge and the operation will take much time, which increases the risk of trade failure.
Exchanging Cryptocurrency: LocalTrade Has Much More to Offer
LocalTrade plans to work with the orderbook platform. In this case, the chance of canceling the trade is eradicated. You also do not need to create a smart contract every time you add a new pair. While working on the DEX protocol, the company tried its best to optimize contracts, diminish fees, and make the processing faster. Further, they aim at improving performance.
Besides, there is a problem of considerable losses while exchanging assets with huge amounts of liquidity. To solve it, LocalTrade provides traders with an opportunity to set the permissible asset price change threshold.
But the main disadvantage of DeFi lies in the fact that the industry is extremely complicated and a lot of new information is difficult to take up and comprehend. There are thousands of offers to invest in the decentralized finance industry, however, new users do not understand the nuances.
‘So we are making Marketplace, a new product where any user can choose a project and invest in it in a few clicks,’ claims Aaron.