dForce Trade has been upgraded to support a variety of cryptocurrencies (vs. previous version supporting DF and USX only). dForce users will now be able to trade, swap, lend, borrow, and mint USX all from dForce’s portal.
The updated dForce Trade version 1 (V1) aims to create a better trading experience by aggregating liquidity across different DEXes, using different market depth within the same protocol.
That being said, users can instantly swap ANY token for ANY token supported on integrated DEXes. dForce Trade will split the order amongst different platforms using an API containing an efficient routing algorithm, which finds the best possible paths in the shortest possible time.
In the to-be-launched dForce Trade version 2 (V2), we aim to develop it into a cross-chain liquidity aggregation protocol to facilitate seamless flow of liquidity across different blockchains, which will further power a thriving multi-chain ecosystem for dForce.
Users are able to edit slippage percentage and gas fees to adjust for the processing time for the transaction. Users do not get charged any fees to swap tokens through dForce Trade. The goal of dForce Trade is to help users find the most cost efficient way to exchange all the cryptocurrency assets supported for trading.
What is dForce Trade?
dForce Trade is a DEX aggregator utilizing an algorithm to search for the best trading price and aggregate proper liquidity across multiple platforms to deliver an optimized trade.
dForce’s protocol scrapes many decentralized exchanges to find the cheapest platform, accounting for fees and the price of the asset itself. It then splits a swap deal between several decentralized exchanges, achieving an overall better price than a swap on any single exchange. A DEX aggregator’s main task is to offer users better swap rates than any specific DEX can offer and to do that in the shortest possible time. Other major tasks are protecting users from price impact and reducing the probability of failed transactions.
dForce Trade is deployed across Ethereum mainnet, BSC, Arbitrum, and Optimism.
How to use dForce Trade?
- Go to dForce Trade.
- Connect your wallet.
- Select assets for trade from the drag-down list, or enter token address for a particular asset to be added to the list.
- Click on ‘Advanced’ at the bottom to re-set price slippage and gas fee if needed.
- Click on ‘Swap’ to continue.
- Confirm the transaction from your wallet.
- Once transaction is completed, you can view the balances of assets in your wallet directly.
