Monolith DEX: The DeFi one-stop-shop
From our earliest days, our goal has been to enable and facilitate access to the Ethereum Economy. The Monolith Wallet marked the first step in this — being secure yet untethered through its mobile offering. Our card built on this, enabling our users to spend their crypto anywhere, and establishing a second step in our growth — one which thousands of users currently enjoy.
After time spent quietly iterating and improving, we’re now thrilled to announce the third step in our journey: enabling access to a host of tokens and decentralised finance services, straight from the Monolith wallet. It marks another milestone in the development of our wallet and paves the way for some fantastic upcoming additional features.
For now, however, let’s unpack this!
Swap for free in your Monolith Wallet
We’re introducing the best swapping experience available on mobile today.
In response to requests from many within our community, we’ve made swapping with Monolith free of charge.
The only things you pay for are:
- The price of tokens you’re buying.
- The cost of the transaction on the Ethereum network.
The most comprehensive swapping experience
Being a pure Ethereum wallet since our earliest days, we’ve taken great care to ensure our swap functionality kept pace with developments in the space.
To this end, we opted for a swap aggregator in the Monolith Wallet (Paraswap) instead of a single exchange. This makes it easy for you to trade on several exchanges at once, from one single place.
“The synergies between our service and a consumer wallet are quite significant, so as a Monolith user myself, I was thrilled when they reached out. As the DeFi offering in the Monolith wallet grows, the integration of ParaSwap will prove even more helpful for users to manage their positions efficiently.”
Mounir Benchemled, ParaSwap founder
The Paraswap aggregator itself makes it easy to find the best rate while allowing for splitting your order over several exchanges (Kyber Network, Uniswap, Bancor, Oasis DEX, 0x, Compound, Fulcrum & EtherDelta) straight from your wallet.
Those with a keen eye may have noticed, Compound & Aave tokens are supported on Paraswap. This should give good insight on features users should expect shortly, namely getting in and out of cTokens and aTokens (interest-bearing tokens) with the minimal fees.
Another key aspect to our experience is in our not being tied to ETH or DAI, or any other specific token for that matter. With Monolith, you can swap any ERC-20 token against any other — simple as.
As a further response to our communities feedback, we’ve set up a maximum spread at 1% of the order value. We are still listening to our community on this, however, and plan to add the option to pick your own preferred maximum spread later.
Another smaller, yet just as important, announcement of note is our having made sure the Monolith is ready to secure all the major ERC-20 tokens — something we’re sure will excite.