On December 20th, Aphelion announced it is aiming to reopen its decentralized exchange (DEX) “within the next 10 days or so.” The team is in the process of integrated a short-term compliance solution identified in a recent update. In addition, Aphelion has also implemented changes to its smart contract.
Aphelion will be blocking all US-based residents from accessing and using its DEX. This will remain the case until Aphelion is able to operate a US national exchange, or receive approval to be its own broker-dealer.
Aphelion claims to have developed a compliance tool that will allow it to operate while it continues to work on cross chain integration and explore avenues to open up the US markets. Aphelions states an aim to be a “fully compliant DEX” and open “the US market as a broker-dealer.”
Until then, US-based users maintain the ability to access and use the Aphelion wallet.
Aphelion has made several updates to its smart contract code in an effort to improve the speed and processes of its DEX. Updates include fixes to the mempool, GAS usage optimizations, and an updated fee structure, among others.
The fee structure will move away from a logarithmic model, and will instead be replaced with a flat rate fee of 0.07%. Aphelion states the new flat fee will “simplify the calculations and also provide a far better redistribution for those that commit APH.”
Maker orders and purchasing APH will continue to occur no fees.
The full announcement can be read at the following link: