How do Bebop prices compare to other decentralised exchanges
DeFi requires some skill to navigate. The space is quite fragmented with so many apps offering trading, lending and borrowing, staking, and other services. Gas price volatility is another factor to be on the lookout for. It’s no surprise that DeFi traders have a habit of looking for the best opportunities across the space, including of course efficient trade execution.
A few of our early users have put forward comparisons between Bebop and other decentralised exchanges where they saw slight price discrepancies between the platforms. This allowed us to unpack how Bebop aims to provide top quality execution by offering no slippage and by including network (gas) fees into the price quoted.
Let’s look at an example offered by one of our users: Pay 1.8 WETH and receive some amount of USDC — try this on Uniswap and Bebop.
On the surface, Uniswap price looks better — the price quoted is $7 better off. But let’s look beyond that a bit.
First of all, the network fees (or gas) are already included in Bebop price ($2.31 in this case), so you won’t pay any ETH on top of the price quoted for the transaction.
Now, let’s look at slippage. Slippage is something that occurs quite frequently on many exchanges (we have written about it in more detail). Decentralised exchange slippage tolerance usually defaults 0.5%. In our case, Uniswap is telling you that the minimum amount of USDC you will receive is actually 2,874.5.
Let’s do some quick maths:
On Bebop you pay 1.8 WETH get 2,882 USDC and don’t pay any ETH on top for the transaction.
On Uniswap, you pay 1.8 WETH, also pay about $2.9 in ETH for gas, and then get anywhere between 2,874 and 2,889 USDC for the trade. Let’s say you land somewhere in the middle and get 2,881.5 USDC. Less the ETH you spend on gas, that is some 2878.5 USDC, a few dollars worse than what you would have gotten on Bebop.
What’s more is that your trade on Uniswap is coupled with uncertainty regarding how much you will ultimately be receiving. On Bebop, what you see is what you get. The price doesn’t change after being initiated.
And if you trade multiple tokens at once, you save even more on gas, so even more relative savings! Check out our gas savings table:
Finally, markets are volatile, different venues will have slightly different prices at the same point in time — that’s normal in any market. We won’t guarantee that Bebop will be better than Uniswap or any other platform price-wise at all times. But we are offering you price certainty and savings on one-to-many and many-to-one transactions.
We truly believe in being transparent with our users and in delivering on the price we show. In the trustless world of DeFi, we want to build long term trust between Bebop and our community.
Let us know about any other questions you have and we will do our best to unpack them in an open conversation.
Join the waitlist!
Bebop is currently open for trading to whitelisted users. Join our waitlist at bebop.xyz to get the chance to be one of the first whitelisted users to trade on the platform!
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Bebop. Make the most out of every exchange.
