In a press release, the Avalanche Foundation announced that it would provide up to $3 million worth of AVAX tokens to Dexalot, a central order limit book decentralized exchange (DEX) developed on an Avalanche subnet.The project is a component of Avalanche’s Multiverse, a fund with incentives to promote the development of new subnets.Defining its own membership and tokeneomics policies, a subnet is a self-governing network.
Through a decentralized on-chain program, Dexalot, a DEX, seeks to imitate the experience of a centralized exchange.With the use of its central limit order book, it hopes to enable users to make orders at precise levels.In February, Dexalot launched its network.Avalanche’s Multiverse funding will be distributed over a 12-month period starting in the fall through the Dexalot incentive program.According to the press release, the monies are conditional and will be given out in line with the subnet reaching new milestones.Concerning the specifics of what the milestones are, the business refuses to say.