DFX Finance, The Forex from the Time Ahead
The automated market maker (AMM) at DFX Finance offers FX services at the most affordable rates. DFX is a collection of smart contracts that optimizes foreign exchange rates using an oracle powered by Chainlink. Although it does not set the AMM’s price, the Chainlink oracle acts as a benchmark for the bonding curve. This enables DFX to provide extremely efficient prices even with small pools of capital, enabling higher capital efficiency without sacrificing pricing. It also helps shift the optimal range of capital without user intervention.
To create the most liquid market at an exchange rate that reflects the conventional FX markets, DFX provides intense liquidity for non-USD stablecoins against USDC. This enables DFX users to guarantee pricing is as close to spot rate with the most depth and least slippage. In order to keep their prices in line with the real-world forex price, Uniswap and Curve depend on swaps and ongoing arbitrage. If the liquidity pools are balanced, DFX will deliver the most precise and recent pricing. Additionally, DFX aids in selecting the top fiat-backed stablecoins for use worldwide.
Available markets:
- EUROC/USDC (EUR)
- CADC/USDC (CAD)
- XSGD/USDC (SGD)
- NZDS/USDC (NZD)
- TRYB/USDC (TRY)
- XIDR/USDC (IDR)
Perks:
The DFX infrastructure serves as the basis for decentralized foreign exchange.
DFX offers a decentralized FX API that is publicly available for any application to integrate into our service, bringing together a coherent network of non-USD stablecoins and on/off ramps. Web2 or web3 applications can use DFX’s API to offer the best FX rates to retail users. We are making institutional FX pricing accessible to everyone by offering it.
DFX can distort the payments ecosystem
Many cryptocurrency users will start looking for ways to use the recently launched EUROC once it is added. FX is a logical step forward from what we can currently do with blockchain technology. We want to expand this new ecosystem because we are the pioneers of FX on the blockchain. We want to promote and offer as much support as we can for robust fiat-backed stablecoins with effective on/off ramps as more people start to see opportunities to launch new stablecoins around the world.
DFX has low fees for buying/selling crypto
For little to no cost, you can mint stablecoins or redeem them directly from stablecoin issuers. Use DEX aggregators, such as 1inch, which integrate DFX, to get the best exchange rates between your native stablecoin and any ERC20-based cryptocurrency. Do as what the previous sentences said and you would get the lowest fees possible.
These are merely a few representative use cases of what they have to offer the world. Their team is working nonstop just to create a world in which stablecoins of all types can prosper.
To learn more about DFX Finance, check out their linktree
