AAX, an innovative next-generation cryptocurrency exchange, is pleased to launch Ether Enveloped (wETH) direct deposits and withdrawals.
As the first and only cryptocurrency exchange to integrate with wETH, which is backed by a 1: 1 ratio of Ethereum (ETH), this feature allows investors to use the token to exchange ETH for other ERC-20 tokens on networks. decentralized. Since most DeFi projects run on the Ethereum blockchain, this provides interoperability and ease of transaction.
While wETH has always dominated the conversation among Ethereum miners as one of the most popular payment options for their mining efforts on the Polygon Network, Ethermine, an Austrian mining pool operated by blockchain technology firm Bitfly, is currently the largest mining pool for Ethereum. Ethermine not only mines Ethereum but also other tokens such as Zcash, Ethereum Classic, Ravencoin, and others.
Through the integration of wETH, AAX offers low-cost, real-time settlement via Polygon Network for miners. With the vision of a future where different blockchain networks can support a broader interconnected landscape, Polygon offers faster but cheaper delivery for an optimal and seamless DeFi experience.
“AAX always aims to stay at the forefront of innovation and offer the best solutions to our users. Adding support for Wrapped ETH is not just a hype game, but rather the implementation of a proven solution that benefits Ethereum miners, arbitrageurs, and traders who may want to seamlessly switch between AAX Exchange and Ethereum-based DeFi platforms. ” Ben Caselin said. Head of Research and Strategy at AAX.
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For more explanations on wETH’s AAX-enabled direct deposit via Polygon Network regarding the Ethermine community, visit their blog post titled “AAX Becomes the First Cryptocurrency Exchange to Support wETH Direct Deposit, Appealing to Ethermine mining pool »
About AAX
Favored by over a million users in over 100 countries, AAX is the world’s first cryptocurrency exchange to run on LSEG technology and the first to switch to the Satoshi standard (SATS) to promote Bitcoin adoption.
By connecting merchants, innovators, NFT artists, wealthy investors, and non-banks alike, AAX’s mission is to help secure digital assets in the real world and bring them all the benefits of healthy money.
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