The Counterparty protocol (XCP), which runs on top of the bitcoin blockchain, has been chugging away since 2014. Besides the fact that XCP actually accomplishes what it promises, flawlessly, it’s native DEX has been picking up significant volume.
The Counterparty DEX is an extraordinarily easy to use venue where Rare Pepe traders can establish a mutually agreed upon value for each Rare Pepe card, priced in XCP under free market conditions.
Counterparty is a bona fide decentralized exchange. Anyone can sell assets without anyone’s permission and have the BTC (or some other Counterparty token) get automatically sent to a personal wallet after each transaction is settled on the main chain.
If you want to buy 0.5 XCP with your BTC to name your brand new NFT or issue dividends to your existing NFT holders, then you go to a dispenser and search for the user offering the most advantageous deal.