After the recent acquisition by Poloniex exchange, the TRON based decentralized TRXMarket exchange has been renamed as Poloni DEX. It is now operational under the authority of Poloniex. After this move, Poloniex has disclosed its future policy in its latest tweet:
— Poloniex Exchange (@Poloniex) December 3, 2019
Poloniex has announced more listing of assets from PoloniDEX, and PoloniDEX has displayed its approval for this action. Now all the TRX-20 tokens can be seen listed freely on Poloni DEX.
Responding to this tweet, Justin Tron, Founder of Tron Foundation, tweeted his thanking reply.
— Justin Sun (@justinsuntron) December 3, 2019
Poloniex, which is one of the top decentralized digital exchange, had integrated itself with the TRON network by establishing a strategic collaboration in 2019.
In October 2019, after spinning out from its parent company Circle, it formed a new parent company called Polo Digital Assets. As part of its plans, an investment of $100 million had been announced in November for global expansion and development of its platform out of the US.
To expand itself in decentralized trading, Poloniex took over the acquisition of TRXMarket, which is a TRON powered platform. TRXMarket (Now Poloni DEX) is the first Tron powered decentralized exchange which executes all its transactions through TRX smart contracts. TRXMarket (Poloni DEX) has been one of the top dApp in terms of transaction volumes. It also has vast operational experience for which Poloniex took it under its umbrella to expand its trading system.
Justin Sun initially had denied his involvement in the recent Poloniex developments, but eventually, on November 12, 2019, he disclosed his collaboration plans with it. He said, “I think the exchange is going to grow and that’s why we collaborate with it to have more initiative.”
He further elaborated, “Those initiatives include listings Tron’s tokens on Poloniex and an airdrop campaign of USDT and TRX20 for users on the platform in the next few weeks.”
Poloniex was founded in 2014 in Seychelles and is one of the oldest and largest digital asset trading exchange. Leaving the US territory, it is now eyeing to spread its wings in China with a new domain name pwan.com.