Next generation cryptocurrency manager and decentralized exchange, LedgerDex, has carried out an upgrade of its trading platform. Version 2 is the latest addition that comes with a new smart contract among other features designed to offer new possibilities. With the upgrade, the exchange is to retire 0x’s V1 smart contract.
Built on the 0x Protocol, Welcome to LedgerDex Version 2
LedgerDex, being a decentralized exchange, is built on top of the 0x protocol. The protocol facilitates the exchange of Ethereum-based tokens including games as well as digital assets. LedgerDex carried out the upgrade in a bid to make it easier for clients to take advantage of the 0x smart contract.
The upgrade also sets the stage for the foundation of future exciting improvements. In addition to the 0x V2 smart contract, there are a number of other features which people will have to watch out for. Foremost, they include an ability to open up a trading API that will enable better liquidity. Version 2 also comes with bug fixes that take security to another level, among other improvements.
Of course, LedgerDex has also enabled compatibility between Version 1 and Version 2. Consequently, user’s token balance will remain the same on transitioning from Version 1 to Version 2. The latter one will also come with a tracking list as was the case in Version 1. The trading pair watch list will also remain the same.
However, users will not be able to access orders created in Version 1. Token allowance set in Version 1 will also not work in Version 2. Users will have to set allowances anew.
The new features and upgrades are a part of the latest push by LedgerDex to position itself as a go-to exchange for managing and trading Ethereum-based ERC20 tokens.
Configuring Version 2
For a smooth transition from Version 1 to Version 2, LedgerDex users will have to re-enable token allowance. Setting allowance for tokens is a must because Version 2 will come with a new smart contract. Token allowance set in Version 1 will not work in Version 2.
For those who have orders created on version 1, they can wait for them to expire or other traders to fill. One can also cancel the orders by simply visiting the old version. To do this, you will have to pay Ethereum Gas fees for cancellation. The launch of Version 2 follows the addition of support for the Chinese language in the LedgerDex token manager and exchange platform.
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
Join our Telegram Group To Stay Up To Date With Crypto News