FHM Unveils Multi-chain Swaps & DEX Aggregation for Everyone
Greetings FHMily and everybody in the crypto space!
As we have announced earlier, March 2022 is going to be an exciting month for FHM. We are making great strides, and today we are proud to reveal an interoperable swap and DEX aggregator for not only the FHM community but for everyone in the crypto space.
If you ever need to swap tokens within the same or between different networks and still get the best possible price and conversion routes, look no further. Go to https://app.fantohm.com/#/dex, connect your wallet, and experience the magic — all in one place.
Our partnership with Rango Exchange helps us bring this product to consumers without reinventing the wheel. We believe ZAP will not only bring value to the FHM community but also facilitate the members of other crypto communities to experience our ecosystem — and finally join the FHMily.
A Leap Forward in Convenient, Decentralized Account Management
In order to fully understand the value ZAP brings, let us first look at common scenarios of bridging, swapping, and moving assets from one chain to another.
Let us assume an investor owns 10 $BNB tokens in their Binance Smart Chain wallet. And, while exploring the incredible opportunities on the Fantom Opera, this investor now wishes to buy $FHM tokens to stake them for rebasing rewards. The typical steps this investor performs would be -
- Go to a DEX like https://spookyswap.finance/
- Bridge $BNB tokens from Binance Smart Chain to Fantom Opera Chain
- Pay the transaction fees.
- After moving $BNB tokens to Fantom Opera Chain, swap $BNB to $DAI tokens hoping Spookyswap has both the liquidity and best conversion rate from $BNB to $DAI
- Pay the transaction fees.
- On receiving $DAI tokens, go to https://app.fantohm.com/ and buy the (3,3) DAI-FHM bond to finally own $FHM tokens (after a vesting period) that are auto-staked.
There are some major improvement opportunities in the above process.
- As we are only using one DEX in our example, i.e., Spookyswap, we must rely on the conversion rates and liquidity that this one DEX offers.
Wouldn’t it be better to aggregate all the DEX liquidity and find the best-offered conversion price available in the entire crypto ecosystem and not just one DEX?
- As we move assets from multiple chains, we must first bridge and then swap them to essentially get the desired tokens.
Wouldn’t it be better if smart contracts and DEX do all this job for us — providing a better user experience and making the entire process less prone to errors and human mistakes?
- As most of the above transactions are made manually, the entire process is time-consuming and, in a highly volatile environment, opportunities could be lost.
Wouldn’t it be better if the whole transaction, bridging, swapping and bonding process is seamless, providing clear estimations on costs while allowing to make adjustments in slippage and other parameters — all in one place quickly?
FHM’s in-app ZAP solves all these problems! We understand that deep liquidity, optimal conversion rates, and a seamless cross-chain user experience are paramount to long term adoption of our financial ecosystem. Thanks to our partnership with Rango Exchange, we have integrated ZAP into our app, offering this all-in-one feature to everyone.
How to ZAP?
Let us now explore how you can ZAP 10 $BNB to $FHM tokens. Keep in mind, the steps below can apply to any asset from Ethereum, Binance, and Fantom chain to any asset in these three chains. If you feel like we should support more chains, send us your feedback in Discord. We love our community!
Go to the FantOHM.com ZAP app, https://app.fantohm.com/#/dex
Connect your MetaMask wallet to the FantOHM app.
In the “You Pay” part of the application -
Select the BSC chain from the list of chains.
Select $BNB token.
Provide the number of $BNB tokens you would like to multichain swap.
The screenshot is below for reference.
In the “You Receive” part of the application -
Select the FTM chain from the list of chains.
Select $DAI token.
ZAP will now do the maths and a bit of wizardry before providing you with the number of $DAI tokens you will receive and the route and number of transactions that will take place behind the scene. ZAP will also provide you with the DEXs it used to fetch the conversion price and liquidity between the trading pairs. We make sure that everything is transparent.
The screenshot is below for your reference.
Click the “SWAP” button.
And that’s it!
You have now swapped 10 $BNB to $DAI tokens.
On the right side of the ZAP page, you can now buy (3,3) $FHM bonds with the newly acquired $DAI tokens. The $FHM tokens will automatically be staked by our protocol and after 5 days of the vesting period, you will receive the staked $FHM tokens, $sFHM.
More to Come
Join us on the 25th of March at 9 pm UTC for the launch of a number of risk-off investment opportunities. We’re excited to bring everyone along with us on this journey through the decentralized revolution. There will be news for even more future launch dates and similar events to this one in the future, so there’s definitely value in participating and joining our communities! https://www.eventbrite.com/e/291341298667