- Transak One enables LogX users to make fiat-to-smart contract deposits.
- LogX provides gas-free trading and smooth money conversion into crypto.
LogX Network, the Sequoia-backed multi-chain trading platform for retail and institutional traders, has joined forces with Transak to simplify the onboarding process. The partnership integrates the innovative fiat-to-smart contract solution, Transak One, into the platform of LogX, letting users purchase and deposit funds directly into smart contracts, rather than via intermediary crypto transactions.
Transak One reduces entry barriers into the decentralized derivatives market by eliminating the need for multiple cryptocurrency transactions, therefore providing a smoother experience both for novice and experienced traders.
LogX is positioned as a next-generation DeFi platform that is going to outperform traditional exchanges in terms of scalability, gas-free transactions, and support for a wide range of digital assets.This also encompasses perpetual futures, instant order matching in memecoin trading, up to 20x leveraged prediction markets, and trading in tokenized real-world assets. For its users, LogX provides a full-fledged trading solution.
Transak One Facilitates Easy Access to DeFi
Previously, the user could only convert fiat currency into cryptocurrency and then have to run through a multi-step operation to interact with smart contracts, but with Transak One, it becomes simple that users of LogX would be able to deposit USDC to trading accounts directly using any fiat payment method without their need to buy ETH, swap it into USDC, and then deposit USDC into a trading account.
LogX incorporates the most cutting-edge technologies for scalability, like Arbitrum Orbit Stack and Avail Network, ensuring the reliability of the data and utilizing Hyperlane Network for cross-chain messaging. Among those investors that believe in the project and thus have supported it are Sequoia Capital, Coinbase Ventures, and Antler, hoping to achieve the fastest, most secure, and most efficient trading platform for retail and professional traders alike.
According to Akshit Bordia, Co-founder of LogX, “We are making DeFi more accessible to a larger audience by integrating Transak One. Now users can instantly buy crypto with local currencies and get up to speed on trading LogX without delay.”.
This is the word of Sami Start, CEO of Transak, This partnership with LogX marks a significant advancement in simplifying DeFi onboarding. Transak One allows users to bypass the traditional, cumbersome process and directly deposit funds into smart contracts.
LogX is an exchange-like experience in a decentralized setting with gas-free transactions and real-time pricing, making it easier than ever for users to convert fiat into crypto and engage with DeFi.
