It has been nearly 12 full years since the launch of Bitcoin, which also brought blockchain technology to the light of day. Blockchain, in turn, brought a financial revolution, as for the first time in a long time - people got to control their own money and make payments without the need for banks or other intermediaries.
Of course, the crypto industry did not just emerge in the shape and form in which it is known to people today. It evolved and developed over time, going from one trend to another.
This evolution is still on-going, and it will likely continue for quite some time. In fact, it might continue indefinitely, as there are always new ways of improving what is already out there.
At the time of writing, however, the crypto industry is extremely focused on decentralized finance (DeFi), which has been its biggest trend of 2020.
DeFi grew throughout the year, as the crypto industry finally matured enough to stop thinking about trading and prices alone. Of course, earning a profit is still a huge part of DeFi, but exploring decentralized ways of earning income from digital currencies suddenly came into focus, and so decentralized exchanges (DEXes) started seeing a lot more attention.
Among them, one exchange stood out due to its revolutionary approach - SwapDEX.
What is SwapDEX and What Does it Do?
According to its whitepaper, SwapDEX emerged as an all-in-one DeFi platform that aims to create a safe environment and a positive-yield approach to financial assets.
Essentially, the platform wants to bring all the newest decentralized products into a single place. That includes SWAP and decentralized exchanges, OTC trading, staking, stablecoins P2P loans, In-house loans, and more.
Of course, as a DEX, SwapDEX primarily focuses on delivering a quick and simple wallet-to-wallet trading experience. It aims to make it easier to utilize an easy swap option, and trade assets.
Thanks to its advanced features, the exchange allows anyone to become a maker, taker, or a liquidity provider. Of course, simply swapping assets is not only possible, but also extremely easy to do.
SwapDEX also has its own token, known as the SDX token. The token is primarily used for governance, as token holders have the right to create new proposals, which are then presented to the community of other token holders who vote on them, and decide on the further development of the project together.
Benefits of SwapDEX
SwapDEX comes with numerous advantages. Apart from offering a large variety of different services, the exchange also doesn't require registration. As such, it helps crypto users preserve their anonymity.
As many are likely aware, centralized exchanges require users to submit documents and fill out forms in order to confirm their identities. This is known as the KYC (Know Your Customer) procedure, and every exchange needs to implement it in order to be licensed and regulated. Those who do not go through these procedures are not even allowed to trade.
However, SwapDEX does not require this. As far as the platform is concerned, users are simply exchanging money between themselves, and they use SwapDEX to get in contact.
The trading solutions that the exchange offers are rather convenient. Users get to exchange tokens through the aggregator, or router pool, end benefit of market-leading prices.
As for token holders, they can also engage in lending and borrowing money, staking, and leveraged trading.
The project is also interested in attracting developers, and it allows anyone to create applications throughout its ecosystem. As the exchange's community continues to grow, such apps will also be able to benefit from increased exposure.
Not only that, but anyone who wishes to start an organization or create their own ERC-20 token can add the token to the exchange for free. All tokens on SwapDEX are available for direct trades between users, wallet-to-wallet. Each party receives the tokens directly and instantly, with no need to deposit the coins in exchange's wallets.
Lastly, the exchange is fully automated, meaning that no human interaction is needed for it to function. Everything is taken care of by smart contracts, which are also open-source and viewable on SwapDEX's github repository.