Why the Upcoming PlasmaSwap DEX Really Is a Big Deal
When we started building our own decentralized exchange (DEX), we didn’t want to simply build yet another alternative platform to add to the dozens of other DEXs already out there in the wild. The idea of distributed and decentralized systems are good, but we didn’t want to end up just further fragmenting what is still a very young and growing DeFi ecosystem by adding yet another option for liquidity pools to build on or another place to wrap your assets on (not that any of that’s a bad idea).
Democratic finance isn’t just finance available for everyone, it’s about everyone being able to access what’s available for them. It’s pointless to have endless opportunities if you can’t see all of them, after all. And that’s really what motivated our idea of PlasmaSwap, a DEX that truly makes DeFi all-to-all, so that everyone can see the opportunities available, and easily have the tools at their disposal that they can take advantage of these opportunities.
Being active in DeFi, we’re also painfully aware of its shortcomings in terms of user adoption. And it’s of little surprise, given the way most DEXs present themselves to new users — with very little guidance to ease them into DeFi. And what of attracting traditional finance users? How can you compete when institutions and professional traders are used to sophisticated tools that have barely made appearances on CEXs?
The Big Deal About PlasmaSwap: in 5 points of added value.
- Enter and exit the market precisely where you want.
Almost no trader on centralized exchanges enter and exit their positions blindly. You’ve done your chartings, you’ve identified the prices you want to go long or short in, and you know exactly where you want to take profit, and exactly how much loss you’re willing to take. CEXs make it so easy to do so, with limit orders and stop loss the industry standard on any centralized crypto exchange.
Not so on DEXs! You have to swap in and out, there and then. Want to entry or exit at a specific price? Then you’ve to keep an eye on the markets day and night.
PlasmaSwap will be the first DEX of its kind to allow native support for Limit Orders and Stop Loss functions for your trades! Forget worrying about wild swings wiping out your balance. Set your entry and exit points, go to sleep or live your life, and let the market fulfil your orders as they happen (or not!).
2. Tools that actually help you do DeFi.
If you’ve ever spent any of the last 25 years learning and using online tools to trade in traditional markets like stocks or the foreign exchange, then you’ll find that the tools available out there have just grown more diverse and more sophisticated over the years.
DEXs typically do not even give you basic token information or real-time market analytics, requiring users to seek these from other data aggregators.
PlasmaSwap changes that! From data on actual order depths, to shifting liquidity and other information on liquidity pools, PlasmaSwap gives you everything you need to know about efficient capital management, real-time information on yield analytics, helping you make informed choices from the same DeFi dashboard.
3. Fewer DeFi steps, not more!
The problem with adding DEXs and widening your DeFi sphere of influence is that moving from network to network and adjusting your assets across different liquidity pools can involve many steps, multiplying your cost and fees with each additional transaction.
PlasmaSwap’s Flash Rebalancer is going to be a game changer, allowing you to move liquidity across swap pairs and across chains in one single transaction, in a few smooth clicks!
DeFi’s about making things easier, not harder!
4. No need to have ETH to pay gas fees!
We know, we know. Gas fees. So high, whine.
Probably the worst thing for a yield farmer is to discover they don’t have enough ETH to pay for gas fees, creating the need for another transaction to buy ETH to fill up their gas tank.
PlasmaSwap’s got your back with Plasma Gas Station, which will allow you to pay for gas fees with other major ERC20 tokens like USDT or native PPAY! No other DEX allows you to pay transaction fees without ETH!
PlasmaSwap. Coming Soon.
So there you have it. PlasmaSwap won’t be just another Uniswap copy, sprinkled with familiar buzzwords and promises. It’ll be a serious intent to change the narrative about DEXs and to prove that the idea of democratized finance isn’t just hearsay. It can be pretty amazing if you build things to bring those concepts to life!
Did we mention PlasmaSwap is actually going to look easy on the eyes and have a more streamlined User Experience? Can we leave behind the stereotype of ugly, clunky, dysfunctional and unintuitive DEX platforms?
PlasmaSwap can!
And it’s coming soon.
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