SwapDex: An All in One Game Changing Platform
Hello everyone, welcome to Crypto Questing!
Whether you are new to Cryptocurrencies and trying to figure out just where to start, or if you have been around since the beginning of Bitcoin, I’m excited to talk to you about one of the most promising projects in the Crypto realm, SwapDex.
If you have been around since the early era of Bitcoin, you know just how much the landscape has changed. The ease of access to exchanging, trading, and even using proprietary mining software that we see today simply didn’t exist just a few years ago.
Today’s Crypto platforms are segmented and riddled with their own peculiar downfalls. Let’s consider one of the most popular exchanges, Coinbase. To get started you need to verify your identity to open an account getting rid of your anonymity. There are only a relatively small number of currencies supported on the platform so you may not have access to a token that you are really interested in, and once you do buy a coin of your choice, it’s stored in a wallet with Coinbase meaning your Crypto and privacy information may still be vulnerable to security breaches. In the DeFi space, the flow of cryptocurrencies are much more fluid and privacy much more secure, yet still there are inefficiencies that can cause some headaches. I’m a big fan of Uniswap, it’s currently my go to for trading pairs and its simplicity and accessibility are very attractive. Even still I find often my transactions costs are not always accurate compared to the initial quote and the number of failed transactions can be irritating.
With that said, the innovations and solutions that Blockchain technology are bringing to this new age of Internet 2.0 are rapid and game changing, and that is exactly what I would call SwapDex. With SwapDex, we are going to see a massive shift once again in the ease of use and DAPP integration for both new comers as well as seasoned crypto enthusiasts.
Let’s dive in.
SwapDex is an All in One Platform for you cryptocurrency needs. They are building their own blockchain that is fully compatible with ERC20 tokens.
What exactly is meant with their All in One approach? Let’s take a look at the features SwapDex has developed and plan to implement into their ecosystem compared to other platform’s widely used:
Other features not seen in this diagram include:
· BTC Trading through ETH Ecosystem
· Collateral Vaults
· Oracles
· On chain governance through SDX holder’s voting power
Staking has become one of the most sought after features as it generates passive income from fees and penalties generated in the market and distributes the funds to SDX holders. In House and P2P loans with collaterals locked in vault will help create leverage in the market and allow greater access to many more potential users. SwapDex also realizes further decentralization as well as enhancing user security and experience through it’s own blockchain, a rare feature today of other exchanges.
With such an array of useful tools located within one easy to access platform, SwapDex is taking a revolutionary step towards helping people maneuver through the DeFi world in a seamless, secure, and easily accessible way that hasn’t been done before. Whereas a full list of greatly desired features and tools in itself is a godsend, SwapDex continues to push things further by enhancing the efficiency of market interactions.
How many times have you tried to invest into your DeFi project’s staking only to receive again and again the “Transaction Failure?” How many swaps have you completed only to be surprised that the transaction costs were higher than quoted, or find the original quoted rate wasn’t as accurate as you would have like? Maybe on a single trade this costs are negligible, but when you are active on the market, these small costs aggregate over time, and a dime lost could have been a dollar made!
SwapDex realized these inefficiency’s with today’s trading options and provides a new solution to solve these issues while at the same time delivering higher gas efficiencies than the market standard. Through a proprietary smart contract, SwapDex has created a protocol that delivers faster response times, lower revert rates, higher accuracy, and more efficient gas usage. Using a simulation that lasted 78 hours, SwapDex compared itself to 1inch, Dex Ag, Paraswap, and Uniswap sampling almost 12,000 trades per exchange using transaction for a range of $100 up to $1Million and more than 7 out of 10 times Swapdex was able to beat all other exchanges in efficiency and rates.
To cap it off, SwapDex realizes one of the most important features of a DeFi platform is the security of its users. They’ve stated that ongoing development on security protocol is a must to keep their users safe but will launch with a host of security features. With a 180 second DNS failover always running, SwapDex’s platform is resilient against DDOS attacks. Automated multi-signature cold storage will protect stored funds from any attempted hacks against the platform as well as automatic notifications to alert users of any activity.
We are just finishing up with quite an interesting year of 2020, as Crypto currencies and markets have absolutely exploded. Cryptocurrency’s are no longer a trend. They are becoming an inherent part of a new ecosystem for everyone to access and become financially independent. With so many advances taking place, SwapDex is taking a step out front of all other competition in providing a truly all in one DeFi solution. While this certainly isn’t financial advice, investing in this platform may most certainly be worth you time to become a SDX holder and provide governance over one of the most advanced DeFi platforms launching. I do highly recommend reading the SwapDex whitepaper to learn more and see in depth just how advanced their All in One solution truly is.
Check out this roadmap and the links below to see what has been accomplished and join SwapDex as it launches into the Crypto Atmosphere.
Official Website: https://swapdex.net/
White Paper: https://swapdex.net/wp-content/uploads/2020/11/SWAPDEX.pdf
Discord: https://discord.com/invite/VHm3A9Y
Stay safe on your Crypto Adventures, and may fortune smile down upon you!
