John McAfee, software entrepreneur and Bitcoin bull, has been advocating Bitcoin reaching a valuation of $1 million for a long time now, while also supporting numerous “side projects” to drive crypto-adoption. While the entrepreneur recently called off the Freedom Coin initiative citing certain complications around his personal life, McAfee regained the attention of the crypto-community after announcing the launch of McAfeeDex, “a decentralized exchange running on the Ethereum blockchain!”
The news was made public by McAfee through his official Twitter account, with the tweet reading,
“A preview of what’s coming Monday: Requires no name, no documents, no email, no bank info. Transaction details private. Nothing monitored. Nothing recorded. No restrictions. No listing fees. 0.25% transaction fees. Completely decentralized.”
According to McAfeeDex’s official website homepage, the beta version of the offering will be launched on 7 October. It further highlighted the fact that the platform’s services will be made active without including maker fees, although it will charge 0.25% as the taker’s fee.
As the decentralized exchange will be running on Ethereum blockchain, the company has also mentioned that “Any ETH-based token can be added instantly and free.” While the decentralized exchange (DEX) ecosystem has been at the forefront of facilitating crypto-trading, the most dominant exchange is expected to be the one with the least KYC, AML requirements.
As of now, John McAfee’s most prominent competition remains Binance (Binance DEX), IDEX, ShapeShift, and Waves DEX, to name a few. It is also important to note that McAfeeDEX will be the second operational crypto-exchange initiative under John McAfee as the technologist continues to offer McAfee Magic. McAfee had previously hinted at ‘working non-stop for over a year’ for McAfeeDex’s launch. He had said,
“I’ve been hit and miss in the Crypto Community for the past few months, but I’ve been doing the Lord’s work.”