Introducing Odos
In this post we will give a short overview of Odos and provide a step-by-step guide to using Odos’ single-asset swap and multi-asset input feature.
What is Odos:
Odos utilizes a patented Automated Market Maker (AMM) pathfinding algorithm that aggregates decentralized exchanges (DEX) and finds optimal routes for token swaps. Odos does not charge any fees to users
How is Odos unique:
With over two dozen existing DEXs, thousands of liquidity pools and growing number of tokens DeFi is a highly complex trading environment. Finding the best path for token swaps is a computationally intensive challenge, leading most DEX aggregators to simplify the problem and deliver sub-optimal routing (considering less paths and splits, and limiting number of intermediary tokens).
Odos is a highly scalable algorithm that traverses a large universe of possible token swap combinations, delivering a significant edge over competition. By using interweaving connections between multiple intermediary tokens, Odos captures more favorable exchange rates over existing solutions. Its intuitive route visualization showcases the complexity of non-linear path finding and simplicity of order execution.
How to use Odos:
Step 1: Connect Your Wallet
- Navigate to Odos (www.odos.xyz)
- Click “Connect Wallet”
- Review and Accept “Terms of Use” and “Privacy Policy”
- Your wallet is now connected and you can make your first swap
Step 2: Single Asset Input Swap
- Select the input token (Swap From) from the drop down menu
- Enter number of tokens to Swap From or click “MAX” to select the maximum number of tokens from your wallet
- Select output token (Swap To) from the drop down menu
- Click “Approve Token” if an approval is needed, then sign approval in your MetaMask wallet
- Click “Swap” to begin your transaction
- Sign transaction in your wallet
- Once transaction is executed successfully, you will receive a confirmation
Step 2: Multi-Asset Input Swap
- Select the first input token (Swap From) from the drop down menu
- Enter number of tokens to Swap From or click “MAX” to select the maximum number of tokens from your wallet
- To select additional tokens to Swap From, click on “+Add Token” and repeat steps above for each newly added token. Note: currently users can add up to 4 different tokens to swap from
- To remove a newly added token, click “x” next to it
- Once all desired tokens have been added, select output token (Swap To) from the drop down menu
- Click “Approve Token” if an approval is needed, then sign approval in your MetaMask wallet or click “Swap” to start your transaction
- Sign transaction in your wallet
- Once transaction is executed successfully, you will receive a confirmation
Advanced Settings:
- Gas Price refers to the cost of processing and validating your transaction on the blockchain. This fee is paid to- and collected by blockchain miners and validators. At times when networks are congested, you may choose to increase gas price to prioritize execution of your order.
- Slippage Tolerance is the difference between the quoted price and the executed price that you are willing to accept, reflected as a percentage of the total swap value. At times when swap rates change rapidly, transactions may revert and a higher slippage tolerance may need to be selected.
- Liquidity Sources currently include 35 DEXs on Polygon. Users may customize this setting to include or exclude select liquidity pools.
About Odos
Odos is a Smart Order Routing (SOR) solution that leverages a patented Automated Market Maker (AMM) path finding algorithm to aggregate decentralized exchanges (DEX) and find optimal routes for token swaps. By traversing a large universe of connecting token pairs and performing complex order splits, Odos is the ultimate choice for institutional and retail traders. Odos is the first aggregator to introduce a multi-asset input feature that enables users to swap from several tokens into one asset in a single atomic transaction.
