Decimal Token: a solution for trading crypto whatever the price
We are happy to announce the release of Decimal Token (DECL)! This brand-new trading tool was created to enable trading of any asset whose prices contain more than 8 decimals, or digits following the comma.
What was the need behind the DECL creation?
Usually, centralized exchanges support a limited number of decimals, and much work is required to change the setting. As for WhiteBIT, we support 8 decimals, meaning that the lowest price an asset can be traded at is $0.00000001.
The limitation as to the number of supported decimals has resulted in a situation where tokens with more than 8 decimals were technically non-tradable on WhiteBIT. We have decided to meet the requests of the communities who wanted to be able to trade the assets at their market price. Thus, our team has come up with a simple yet effective solution in the form of Decimal Token.
Decimal Token (DECL)
Decimal Token is a brand-new intermediary asset aimed at enabling trading of tokens whose price is lower than 0.00000001 USDT. It is an exclusive, (as of now) off-chain internal token with a stable price rate of 0.0001 USDT. The stability of the price is ensured by WhiteBIT providing order book liquidity.
Opening a trading pair against DECL will technically allow any asset to be traded with 12 decimals in the USDT equivalent. To make buying and selling DECL seamless for our users, we have enabled a permanent 0% trading fee for the DECL/USDT trading pair. Therefore, everyone will be able to buy and sell DECL in two clicks and without additional expenses.
Please also note that for now, you can’t deposit and/or withdraw DECL, since it is an internal off-chain asset.
We are happy to say that Decimal Token has already got several use cases with newly-listed assets!
How to use DECL to trade your favorite token?
To utilize Decimal Token as an intermediary asset for trading tokens with 8+ decimals, take the following steps:
- Deposit USDT to WhiteBIT or buy it.
- Trade the DECL/USDT pair to get hold of DECL (0% trading fee), or use the Exchange Service to swap directly.
Buy your asset for DECL (the trading pair can be found in the ‘Stables’ section).
- To sell your asset, just trade it back for DECL, and use the DECL/USDT pair to change it to USDT.
This is it! Try trading the DECL now!