PlasmaSwap: How it Compares to Other DEXs

These days, in DeFi, it’s impossible to discuss decentralized exchanges (DEXs) without referring to the current heavyweights of the industry: UniSwap and SushiSwap. Both of these are actually operating on an automated market maker (AMM) protocol, just to set them apart from other early DEXs — whereby there are no order books but liquidity pools instead for people to trade tokens.

They are very similar protocols that are indistinguishable when observed from the way they work and that’s no surprise, since SushiSwap itself was forked from UniSwap.

Our very own PlasmaSwap DEX, as an AMM protocol itself, is a combination of many aspects of both the two, taking many contracts and tweaking them to improve the way they work and introduce other new features and benefits that don’t exist in both UniSwap or SushiSwap.

Perhaps the most obvious aspect — and the easiest one to discover — when attempting to compare all of these platforms would be the one that is most measurable by data, as well as the one most attractive to speculators. In this way, then trading volume and liquidity would stand out as the two comparison aspects since it’s logical that the most activity and the most liquidity would provide the most opportunities.

But every platform starts out with shallow liquidity and low trading volume. Certainly, SushiSwap, when it emerged as a direct copy of UniSwap, had to have differentiation factors to attract users. It did this chiefly by using a more playful theme that appealed to yield farmers who had a close affinity to the meme-motivated tones of the early DeFi days, and it had its own native Sushi token that further rewarded users.

So we also wanted to let you know what makes PlasmaSwap different, when compared to using other typical AMMs or DEXs like UniSwap or SushiSwap.

1. Using PlasmaSwap gives you more freedom.

Unlike other DEXs, PlasmaSwap actually doesn’t force you to change your loyalties or to make an exclusive choice. It just gives you more options.

PlasmaSwap works within PlasmaFinance, which itself is a DeFi aggregator that aims to be the complete DeFi application for you to perform any and all the interactions you would ever want to from one place. You can trade, swap, buy, save, send, store — all from one place, while still having access to the other protocols. No need to connect to multiple protocols, just the one.

Using PlasmaSwap means you have a simple yet detailed view of your entire DeFi portfolio and of the DeFi options out there. You can contribute liquidity to any pool that already exists since PlasmaSwap taps into all the major protocols, showing you liquidity and other analytics for any ERC20 tokens everywhere they exist, not just on the one you’re using. If using Sushi or Uni, you can only view what’s on your protocol.

This freedom of choice extends everywhere. Some other aggregators force you to install their own app or wallet just so you can use them, but PlasmaSwap lets you keep your own choice of wallet (if you’re not already using a Web3.0 wallet, then it’s really time to upgrade).

What about infrastructure or platform hacks that used to affect older DEXs? You don’t need to worry about PlasmaSwap because we don’t have a back end, with everything built on decentralized infrastructure. You’re only connecting to our front end, that’s all we’ll ever ask you to do.

Wouldn’t it be nice to be able to compare to the whole universe instead of just inside your own world? But still be allowed to choose your favorite world? That’s the freedom that you have when using PlasmaSwap.

2. PlasmaSwap empowers you with more control, less hassle.

When using PlasmaSwap, you’ll find that you will have more say about what you can do with your DeFi portfolio. Along with that control, you’ll find the easier steps and features will equate to savings on time and fees too.

Imagine if UniSwap or SushiSwap were to close down, or migrate to an entirely new and different protocol (like how Binance recently moved to its own Binance Smart Chain, for example). Then you’d have to move as well, and probably port over all your liquidity to new pools.

Or, let’s use the most likely example and say that you find a better liquidity pool with more attractive yields or less slippage or better impermanent loss BUT it’s on another completely different protocol. Then you’d have to remove your liquidity from the existing pool, and then swap out both of the tokens (as they exist in a pairing) and swap them both into the new pool on the new protocol. That’s just one problem of DEXs now, but DeFi traders go through a lot of daily pains and barriers.

But with PlasmaSwap, you are in control, with no restrictions. We have:

1. Limit orders and stop loss. This April, never stay at your computer all night again waiting for that perfect price. Set your entry, set your exit, and live your life. PlasmaSwap takes care of the rest.
2. Easy, cross-protocol liquidity migration with 1 transaction via Flash Rebalancer. Open, contribute to or migrate your liquidity. At the price of only a single transaction
3. ETH-less gas fees with Gas Station coming in Q1. Don’t worry if you don’t have enough Ether, no need to buy more when fees are up. Use your other crypto balance to pay for transactions instead, like Dai, USDT, PPAY, and more. Why be stuck just because you ran out of ETH?
4. Near-instant, zero fee transactions when our own Hyperloop goes live in Q2. Don’t stand by waiting just because gas fees are so costly. Our own PlasmaDLT Layer 2 solution means scalability ahead of ETH 2.0 or Uniswap v3.
5. A native token with governance baked in token that gives you a say in development. Ever wish you could have a say in how your favorite DeFi platform grows? Or to decide how to spend its resources? As a PPAY holder, you can vote for such important decisions.
6. A simple way to view, manage and optimize your entire DeFi portfolio with a suite of powerful tools to give you all the information you want about any DeFi token or liquidity pool, with advanced charting tools that would satisfy professional fund managers and institutional investors.

And so you have it. We hope you begin using PlasmaSwap and see for yourselves the difference, so you can make your own comparisons to the current giants of AMMs. In time, we believe that when more DeFi users see and enjoy these benefits of PlasmaSwap, then it will only be a logical choice to use it.

As we said, switching to PlasmaSwap doesn’t mean foregoing all your beloved options. It simply gives you more freedom of choice to broaden your DeFi horizon. And using PlasmaSwap also empowers you with more control and more knowledge, so you can be well-informed and make the best decisions for your needs.

This way, you don’t simply become a DeFi user but you can fully embrace the entire DeFi universe.

Plasma Wallet | Plasma.Finance DeFi| Telegram | Twitter | Reddit | Github