American Leisure Holdings Provides Company Update MIAMI, FL / ACCESSWIRE / June 23, 2022 / American Leisure Holdings, a Portfolio Holding company, is pleased to provide a company update as to the recent ongoing progress of the company.
Earlier this week the company entered into a Letter of Intent (LOI) to acquire a majority Interest in a fully developed and functioning Decentralized Exchange (DEX), complete with a full back office support team. Currently as a mutual NDA is in place, the name of the exchange will not be disclosed until after closing. Mutual terms have already been discussed and agreed upon. Both companies are ready to move forward and expect a smooth quick closing, as management of both companies have a long standing relationship. Once closed AMLH will look to apply to FINRA for a name and symbol change, to better reflect the nature of our business as a Decentralized Finance and Technology company, focused on Blockchain, NFT's, Crypto Currency and Web3 innovations.
In other news, to date AMLH also has a Sports Memorabilia NFT project working with Baller Mixed Reality. Baller Mixed Reality is pioneering the new era of Metaverse Collectibles with Augmented Reality NFTs autographed by legendary athletes and entertainers. Mr. Jonathan Herman, CEO of Baller Mixed reality recently returned from the NFT Expo in New York, (NFT NYC). We will provide an official update shortly on the progress on the NFT front.
The company will also be updating the website to better reflect the direction of the company. In the Meantime the company is very excited to be moving forward with the acquisition of this Decentralized Exchange and the multitude of projects it will include.
According to Cointelegraph a "Decentralized exchanges, also known as DEX's, are peer-to-peer marketplaces where cryptocurrency traders make transactions directly without handing over management of their funds to an intermediary or custodian. These transactions are facilitated through the use of self-executing agreements written in code called smart contracts.
Decentralized exchanges rely on smart contracts to allow traders to execute orders without an intermediary. On the other hand, centralized exchanges are managed by a centralized organization such as a bank that is otherwise involved in financial services looking to make a profit.
There are three main types of decentralized exchanges: Automated market makers, Order books DEXs and DEX aggregators. All of them allow users to trade directly with each other through their smart contracts."
Further explanation of Decentralized exchanges can be found in the link below
https://cointelegraph.com/defi-101/what-are-decentralized-exchanges-and-how-do-dexs-work
https://www.accesswire.com/706307/american-leisure-holdings-provides-company-update--adds-second-project-to-portfolio