Billionaire Tim Draper’s venture capital studio Draper Goren Holm has released a new WordPress plugin that will allow users to create customizable decentralized exchanges without the knowledge of an engineer or software developer.
This means that anyone can now be able to create a DEX right on their WordPress website and additionally create passive income through charging exchange fees. Dubbed WordPress Cryptocurrency Exchange plugin, the new plugin is based on the Totle API, a company also backed by Draper Goren Holm. The plugin was developed by one of the venture capital firm’s partners Alon Goren.
“One of our portfolio companies, Totle, created a really great way for developers to add decentralized trading and get the best prices within their dApps and their products,” Goren revealed.
However, this left room for more innovation according to him. He saw a way to expand this capability towards other users and specifically WordPress site owners to enable them to implement DEX functionalities on their websites.
It is the same idea that the Totle developers had with enabling dApp developers to use the API to connect traders across different DEX platforms with the twist that instead of a dApp, it will be a WordPress website or blog. The team didn’t build it and so Goren took the mantle and built the plugin himself.
“I bugged them about it fairly regularly, and going into quarantine, I decided one day I would try and build it myself. Here we are!”
Using the plugin is fairly simple. On the WordPress website page, you will be able to download the plugin to your local storage memory. Afterward, you will be able to upload it to your WordPress backend through the plugins section by clicking the add plugin and choosing the upload option. After the plugin files are successfully uploaded, activate the plugin.
“Now any time you type into a page or post on your site, you’ll have your cryptocurrency exchange that will route the trades across all decentralized exchanges to get you the best rates,” the website notes on the procedure to install it.
Goren is already planning on adding functionality to the plugin. He’s looking into either introducing some extra features borrowed from other portfolio companies or borrowing more features from the Totle API.
“There are a bunch of other features available through the Totle API that I want to add to this in the future, like the ability to only display certain tokens within a particular post and other great features,” he said adding that “I may even create a separate crypto payment plugin using the Totle API ‘Pay’ function, because that on its own would be huge for content creators.”
Indeed this will be huge but not just for content creators. Anyone from activists to doctors and athletes to politicians will be able to create their own exchange platforms right on their websites. Charities cane even use the platform to receive donations in any token and convert it to the token of their choice. The possibilities are endless.
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