ICON Aims to Launch DEX in the First Half of 2019

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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June 26, 2023 06:55 EDT

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The ICON platform, which operates as a decentralized network with an ambition to enforce global interaction between various blockchains, has now announced that they’re accelerating their strategy to expand the ICON public blockchain ecosystem. This includes preparing to launch its own decentralized exchange to give its IRC2 (ICON mainnet-based tokens) coins more liquidity.

Source: iStock/matejmo

Other plans put forward by the project include the enhancing of their strategy to increase the spread of its public DLT (Distributer Ledger Technology) ecosystem. They also plan to improve their blockchain alliance program. Following the current trend, ICON intends to launch its own decentralized exchange (DEX) as well as an identification system on its decentralized platform and ICON public network within the first two quarters of 2019.

According to their initial whitepaper, DEX had to be launched in Q4 of 2017.

The project is also looking for decentralized application (dapp) partners, focused on both B2C (business to consumer) and B2B (business to business) products through the newly established ICON Loopchain Alliance Program (ICON LAP100) as well as their accelerator program ICX station. They currently number a total of 30 partners for collaboration projects, having secured 13 new partners this year, according to the company.

Among those new partners are AC3, a US-based customer-driven viral marketing platform; VELIC, a Singapore-based comprehensive finance platform for crypto-assets; and Somesing, a social music application combining user-generated content and reward system. Many more DEX platforms will open up in the future. The blog post goes on to add that, “ICON is currently in conversations with more potential dapp partners as the mission to grow the ecosystem continues.”

As for the ICON LAP100, it is an enterprise blockchain alliance program established with the goal to jointly develop enterprise-specialized blockchain solutions with 100 companies and startups in various fields. ICON also already has a launch platform in Seoul working on the basis of Deblock VC firm, which is a major company for promoting dapp projects of South Korea around the world. Also, ICON intends to set up a launchpad in Tokyo in the first half of this year.

Meanwhile, the ICX coin, which is No. 45 in terms of market capitalization, is up by 3.56% in the past 24 hours as of the time of writing, worth USD 0.24 per coin. ICON raised almost USD 43 million during its initial coin offering in September of 2017.