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Cycle Network Introduces CycleUnit for Decentralized Custody and Settlement

The new platform aims to provide secure, low-cost custody and settlement solutions for spot and perpetual DEXs, with Binance Alpha listing CYC on August 4.

Summary

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Terms & Concepts
  • Decentralized Exchange (DEX): A peer-to-peer marketplace where cryptocurrency users can trade directly without relying on an intermediary or custodian.
  • Decentralized Custody: A blockchain-based asset storage method where users maintain control of their private keys, reducing reliance on centralized entities.
  • Cycle Network (CYC): A blockchain project developing decentralized custody and settlement solutions, whose token is set to be listed on Binance Alpha.