Wayang is the ethereal and beguiling art of puppet shadows, the representation of life told two stages removed from reality, first by the puppefts and then by their shadows. In many ways it’s an early form of the metaverse.
Wayang is one of the national arts of Indonesia, the fourth-most populous country in the world and an archipelago of more than 17,000 islands covering an area east to west similar to that of Europe. It contains a huge variety of people and cultures who have carved out a shared identity under the motto of Bhinneka Tunggal Ika, or Unity in Diversity.
The Republic has also embraced the metaverse as a way to increase this unity. Six months ago the government announced it was moving its capital city from Jakarta on the island of Java to Balikpapan on the island of Kalimantan. To complement this bold move, the government announced it will also create a metaverse to allow its citizens to engage with government officials without having to spend money on flights and accommodation back and forth to the new capital city.
Furthermore, this metaverse will be used to boost the economic prospects of the disparate regions of the country. Each of these regions has its own economic makeup, with different agriculture, mining, handicrafts, foods and culture. Each region will have its own metaverse, where micro, small and medium- sized businesses will be promoted regionally, nationally and globally as well.
Having embraced the concept of the metaverse and identified these innovative use cases, the question becomes how to make it work. Specifically, how do you create meta finance – a completely new digital system of money that will allow the circulation of tokens within and currency exchange between metaverses? Without the development of a sophisticated meta finance system, it won’t reach its potential. Litedex Protocol is the first decentralized exchange (DEX) platform in Indonesia and is the standard bearer of the concept of meta finance.
Litedex allows its users to develop projects that investors favor, including staking, farming, swapping, pooling, lending, borrowing, NFT marketplaces and bridge features. Litedex Protocol will adopt multiple blockchains, such as Binance, Ethereum, Solana, Avax and several other globally popular blockchains, which will activate the bridge feature as the main foundation in the meta finance concept.
RTGS for the metaverse
In TradFi, there is the concept of the “Real Time Gross Settlement System,” or RTGS. This is the backbone of the global payments and trading infrastructure that allows transactions to be settled in real time. This does not yet exist in the metaverse. As a meta finance infrastructure backbone, Litedex is becoming the RTGS system of the metaverse. Blockchain agnostic and catering for both B2B and B2C projects in the metaverse, Litedex is a one-stop exchange that provides convenience for users surfing the metaverse world. The platform provides a seamless experience where users can make transactions and exchange digital assets without having to leave the metaverse.
As a blockchain developer, Litedex Protocol is also developing its LDX token as a cryptocurrency for underlying projects and a large ecosystem. To increase investor confidence, Litedex Protocol is committed to auditing all its projects through CertiK. The LDX token has gone through the Certik audit stage with strong results. Recently the LDX Token has been listed on both LBank’s Global Centralized Exchange and on PancakeSwap’s Global Decentralized Exchange.
Litedex Protocol is the first platform developed by IT engineers from Indonesia, without involving third parties from other countries. It has received generous support from Indonesia’s deputy minister of trade, Jerry Sambuaga, on several occasions. The concept of meta finance will become one of the main pillars in building an ecosystem in the metaverse world, both in Indonesia and around the world.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.