We’ve Aggregated Four Exchanges To Find The Best Prices For You
Welcome Bancor, Kyber, Uniswap, and Radar Relay to the Ambo App!
Ambo has recently released a major update to the mobile app, which includes the addition of over 500 new tradeable tokens. We’re proud to offer our users the ability to invest in the most cryptocurrencies out of any mobile wallet in the ecosystem. We now aggregate all four of the main decentralized exchanges: Bancor, Kyber, Uniswap, and Radar Relay, and we find the best price for our users whenever they’re making an investment.
While the Ethereum ecosystem has it’s cornerstone centralized exchanges, such as Coinbase, Gemini, and Binance, decentralized exchanges like Bancor, Kyber, Uniswap, and Radar Relay are gaining popularity for their ability to bypass many of the friction points associated with privacy, hacks, and KYC. Since centralized exchanges take full custody of their users’ funds, they are expected to set the highest standards of security protocols to offset that liability. On the other hand, people who choose to use decentralized exchanges enjoy having full autonomy over their funds, maintaining control of their money while they use these exchanges as interfaces for trading. Since decentralized exchanges provide their users with a lot more freedom, we have taken on the role of aggregating all of the main exchanges into Ambo to make it as easy as possible to trade over 700 tokens at the best prices available.
Bancor Network
How is Bancor different?
Unlike some of the other exchanges we offer, Bancor does not act as a traditional orderbook. Instead, it provides:
- Continuous liquidity: No need to worry about matching a buy order with a sell order! There’s always a market available for the tradeable tokens through an automated market-making strategy that increases the value of a token and its supply each time it is traded.
- Asynchronous trading: An order does not require a buyer and a seller to be present at a given moment, as each trade is sent to the token’s individual smart contract rather than an order book
- No spread: Bancor does not use a spreading mechanism to make money off of their users
- Protection against slippage: Slippage is always known ahead of time before an order is executed.
These are all very important features that Bancor uses to make them stand out from traditional decentralized exchanges, which do use order books and must match buyers and sellers in order to place orders. If you would like to read more about Bancor Network, head over to https://www.bancor.network
Kyber Network
How is Kyber different?
- Kyber is a fully on-chain liquidity protocol that doesn’t require an open order book, and can be implemented on any smart contract-enabled blockchain. Users can trade ETH or tokens through their aggregated liquidity pool.
- At the heart of the design, the protocol smart contracts offers a single interface for the best available token exchange rates to be taken from an aggregated liquidity pool across diverse sources.
- The Kyber protocol allows users to convert one type of token (e.g. KNC) and receive a different token in return (e.g. DAI) according to the best rates provided by the reserves. The entire process happens in a single atomic transaction, so we can be assured that there is no partial execution of a trade.
Much of Kyber’s success as a protocol in the ecosystem comes from its method of having the execution, liquidity, and rates all entirely on-chain (unlike 0x and Radar Relay). This allows the protocol to be fully composable with other protocols, thus creating innovative DApps in the ecosystem. The users are not required to trust anyone because the protocol does not hold their funds. Additionally, being entirely on-chain allows users to freely verify and audit the smart contracts. If you would like to read more about Kyber Network, head over to https://www.kyber.network
Uniswap
How is Uniswap different?
Due to the lack of liquidity in order books, Uniswap uses an automated market-making order system to guarantee transactions.
- Arbitrage trading makes up for the difference in prices by decreasing token prices and increasing the ETH price when placing a sell order, and increasing the token prices and decreasing the ETH price when placing a buy order.
- The overall price of each token is dependant on the market-making system, which ensures that the trading pair ratio remains constant.
- Every time a token falls behind in the market, it is advantageous for the user to make trades to bring the token back to market value.
- Automated market-making provides guaranteed liquidity as the price per trade rises with the larger orders, meaning liquidity will always be present with low slippage.
Uniswap plays a major role in the decentralized exchange lineup, using their liquidity reserves as holders of both ETH and the token that is being traded. This is very beneficial, as the ratio between the two currencies determines the exchange rate. Rather than Uniswap filling buy and sell orders, the user will add to the reserve pool by adding the token that they are selling and removing a token that they are buying. Decentralized exchanges regularly run into problems with illiquid markets, but Uniswap’s market-making technology will always confirm the reserves hold the proper amount of funds. If you would like to read more about Uniswap, head over to https://www.uniswap.io
Radar Relay
How is Radar Relay different?
- Radar Relay uses the 0x Protocol by handling all transactions off-chain to minimize high gas fees and liquidity issues.
- Radar Relay encourages other relayers to plug into their order books in order to combine liquidity pools for their users to trade large amounts without the need to worry about a lack of liquidity, while 0x handles the settlements of each transaction placed.
Radar Relay is different from the other exchanges that we offer on Ambo, as trades are only executed within an orderbook that is funded by liquidity providers and market makers who are making opposite trades at the time the user places either a buy or sell order. If you would like to read more about Radar Relay, head over to https://radarrelay.com
Need a fiat on-ramp? Wyre is the way.
Ambo users can deposit directly from their bank using Wyre’s ACH widget as well as deposit through Apple Pay.
Ambo strives to be your fastest and easiest solution for buying tokens and becoming a part of the Ethereum ecosystem and takes care of all of the in-between steps!
