Introducing ParaSwap’s new UI & a significant upgrade for the swapping contracts
We’re rolling out the new version of our interface (v3) as well as an update of our contracts packing several upgrades!
Most of the improvements focus on pricing and gas efficiency of course, yet the new UI also makes the experience much more explicit. Let’s see how!
A fresh new look for ParaSwap’s interface
The first iteration of ParaSwap’s UI was minimalist and appreciated by some, but we felt we could definitely improve the clarity and communicate better on the value ParaSwap is delivering. The new interface brings several welcome additions:
For every trade, you’ll find the full route explained right below the chart. If you hover your mouse over any > it will display additional details such as the DEX used.
The pricing table was also improved. It will now display an estimation of the effective gas cost of each route on top of the usual expected slippage, to help you understand ParaSwap’s routing decisions better.
Right below the swap button, on the left, there is now a recap of the key parameters of your trade:
- The Estimated Cost represents the total estimated Ethereum gas cost of your transaction (paid to the network).
- Despite all the optimizations ParaSwap implements, large trades can still have a Price Impact — they require a significant share of the available liquidity to execute & therefore move the price as they happen.
- Prices on crypto markets fluctuate constantly. The Minimum Received amount corresponds to the worst-case scenario for your trade.
With the new interface, the value added by key ParaSwap features such as MultiPath is much more explicit, especially on more complex paths, such as this switch from an ETH collateral on Compound to USDC on Aave:
Thanks to these changes and a few more, we’ve iterated on the interface to make it easier to understand your trades and the value ParaSwap is delivering. If you’re not fond of the dark theme, it’s available in white too:
Updated contract for even better gas efficiency ⛽
On top of the new interface, we’re releasing a new version of the ParaSwap contract — used by this new interface.
It brings several improvements, including a 30% reduction overall in gas costs you’ll quickly notice, especially for trades settled using only one DEX.
As always, if you’re looking for further documentation to better understand ParaSwap or the various DeFi services it’s interacting with, have a look at our user documentation — Learn2Swap: it’s been updated to reflect the changes brought by the new interface.
⚠ PLEASE READ — POSITIVE SLIPPAGE DISTRIBUTION CHANGE
The fee model is evolving slightly with the version 3 of the contract. The main difference is that the positive slippage, previously 100% given back to the user is now split 50/50 with ParaSwap.
ParaSwap’s fee is still 0 if it’s not delivering any value to its users: this new addition means ParaSwap now takes 50% of the ADDITIONAL VALUE provided when positive slippage occurs. The remaining 50% still goes to the end-user by default (integrator’s choice).
For more info, we invite you to check the dedicated Fees page on our user documentation.
Both the new interface and contracts have been tested privately by community members. The new contracts have been audited by Solidified.
Everyone can now access the new interface at https://v3.paraswap.io/ — if you’d like to share your feedback, you can find us on Telegram or Discord.
Services integrating ParaSwap using the API have been given ample warning like always and we’ve been supporting them in their migration to the new contracts to enjoy its benefits.
The current application, accessible at Paraswap.io stays unchanged: it still interacts with the same contracts that are now insured through an Unslashed Finance cover.
