The addition of the CDT token on the Avalanche blockchain: an important step towards increased accessibility
We are taking a significant step forward with the addition of the CDT token on the Avalanche blockchain.
This move will make CDT accessible to more users and expand its market opportunities. In this article, we will discuss the creation of an AVAX/CDT trading pair on the decentralized Trader Joe exchange, as well as the steps taken to include CDT in the platform’s verified tokens. Additionally, we will cover the opening of a liquidity pool worth approximately USD 30,000, shared equally between CDT and AVAX.
Finally, we will explore the CheckDot Bridge that will enable users to transfer CDT to the Avalanche blockchain starting May 20, 2023.
Trader Joe: A decentralized platform for AVAX/CDT trading
On May 20, 2023, Trader Joe, a decentralized trading platform, launched a trading pair between AVAX and CDT.
This initiative offers users a new trading opportunity, enhancing the liquidity and accessibility of the CDT token.
The addition of this trading pair is a significant step forward in integrating CDT into the growing Avalanche blockchain ecosystem.
Swap CDT on Trader Joe: https://traderjoexyz.com/avalanche/trade?outputCurrency=0x0cbd6fadcf8096cc9a43d90b45f65826102e3ece
The importance of CDT verification on Trader Joe
Ensuring a safe and reliable trading experience for users is paramount on decentralized trading platforms.
To achieve this, a pull request has been submitted to include CDT in the list of verified tokens on Trader Joe. This verification will instill confidence in Trader Joe users, allowing them to trade CDT with trust in the platform’s security and reliability.
Creation of a liquidity pool
To stimulate liquidity and facilitate trading in the AVAX/CDT pair, a liquidity pool worth approximately USD 30,000 has been established.
This pool consists of 15,000 USD worth of CDT and 15,000 USD worth of AVAX.
By providing ample liquidity, Trader Joe users will have seamless access to trade between these two tokens, further encouraging the adoption and utilization of CDT within the Avalanche community.
The CheckDot Bridge: A Solution for Transferring CDT to Avalanche
The CheckDot Bridge, scheduled to be operational on May 20, 2023, will enable CDT holders to transfer their tokens from other blockchains to Avalanche.
This bridge will facilitate interoperability between different platforms and contribute to the wider adoption of CDT.
With this functionality, CDT holders will have the opportunity to leverage Avalanche’s expanding ecosystem while retaining their current holdings.
Previous experience with Polygon and decision to withdraw
Initially, we had planned to make CDT available on the Polygon blockchain. However, upon conducting a thorough evaluation, we discovered several security issues associated with this blockchain.
To ensure the safety of CDT holders, we made the decision to not proceed with this integration.
Furthermore, despite multiple requests, Polygon has yet to validate or review our inquiries for verification of the dedicated Bridge wallet.
This lack of response raises concerns about the platform’s reliability and responsiveness.
Additionally, there have been reports of high gas fees and stability issues on Polygon blockchain nodes, which diminish the appeal of using this blockchain for investors.
Consequently, we strongly advise all investors against holding their CDT tokens on this blockchain to mitigate potential risks.
Conclusion
The addition of the CDT token on the Avalanche blockchain marks a significant milestone in making CDT more accessible to a wider range of users.
By introducing the AVAX/CDT trading pair on Trader Joe, verifying CDT as a token on the platform, and establishing a liquidity pool, we aim to enhance the liquidity and adoption of CDT within the Avalanche community.
Furthermore, the upcoming launch of the CheckDot Bridge on May 20, 2023, will enable seamless transfers of CDT from other blockchains to Avalanche, promoting interoperability and bolstering the token’s accessibility.
In light of security concerns, high fees, and unsatisfactory responsiveness, we have made the decision to discontinue our integration plans with the Polygon blockchain.
Instead, we are embracing the Avalanche blockchain, driven by its promising potential and growing interest.
Our utmost priority is to deliver a secure and reliable trading experience for users while nurturing the growth of the CDT ecosystem.
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Jeremy, CheckDot CEO.
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