SwapAll APP and Layer 2 website — dual entrance for SATO
The current congestion problem of the Ethereum network is obvious to all, which directly limits the total amount of DeFi transactions and hinders the possibility of DeFi’s expansion to a larger volume.
The most direct user experience is that the decentralized exchange based on the Ethereum main net is delayed due to the long confirmation time. In addition, the high gas fee is often tens of hundreds of dollars, and it is not uncommon for the handling fee to even exceed the amount of the transaction itself. This not only greatly increases the user’s transaction costs and entry barriers, but also makes the user experience uncomfortable.
In response to these issues, SwapAll Exchange relies on years of accumulation in the blockchain industry and uses the Layer 2 solution to solve such industry pain points.
The public Ethereum chain is considered Layer 1. If users move some transactions on Ethereum to Layer 2 for processing, the results will be returned to Layer 1 after the processing is completed, so that there will be no delaying problems due to Layer 1 congestion. Thus, Layer 2 solution is invented.
In early November 2020, the semi-centralized SwapAll mobile app was launched; in mid-April 2021, all the data was shifted to the Ethereum Layer 2 side chain, completely achieving complete decentralization.
In order to meet the needs of different users, the platform retains both the mobile APP terminal and the Layer 2 side chain website entrance. It is currently the exclusive decentralized exchange in the industry that supports both mobile APP and website wallet. The corresponding version entry can be selected on the official website of SwapAll Exchange (swapall.io):
Mobile:
· No KYC certification is required. Users do not need to specifically connect the private key and trade back and forth between multiple platforms to complete their DeFi mining goals.
· All assets are concentrated in the exchange personal wallet.
· The core team has many years of technical background dealing with enterprise-level wallets, and user’s security is fully guaranteed.
· It has been running for 6 months so far, and all functions are mature. Including airdrop and liquidity mining, swap between currencies, asset recharge, asset withdrawal, instant transfer, etc. The UI design is clear and simple, and friendly to all users.
Website:
· Connect to Metamask wallet to use.
· User assets are managed by a decentralized Layer 2 node, and can be withdrawn to the Metamask wallet at any time with top security. In addition to Metamask, it also supports other decentralized wallets such as Ledger, Trust Wallet, TokenPocket Wallet, and imToken.
· Support three major chains including Ethereum/ Binance Smart Chain/ Huobi Eco-Chain (ETH/BSC/HECO) to ensure unlimited scalability and transaction security.
· At present, the TPS of Ethereum Layer 1 is about 15–20, while the TPS of Layer 2 can theoretically reach 3 digits or even 4 digits after optimization, which is a qualitative improvement in comparison.
· Users do not need to wait for a long confirmation time like other swap-type exchanges on Layer 1. The transaction is almost real-time; secondly, there is no gas fee for the transaction. SwapAll saves a considerable part of the transaction cost for users; at the same time, transactions on Layer 2 have better privacy protection, which also meets users’ needs for anonymity.
Although the mobile APP version and the Layer 2 side chain version utilize different type of wallets, they share the same mining pool when participating in airdrops or liquidity farming.
Both versions are available, which can meet the needs of users with different needs. The mobile APP version lowers the threshold for new users to participate in DeFi projects. The Layer 2 version completely eliminates users’ worries about the security of funds.
For more info,
SATO official website: https://sato.trade
Medium: https://medium.com/sato-trade
Discord: https://bit.ly/3cnsdgw
Telegram channel: https://t.me/sato_announcement
Twitter: https://twitter.com/SatoToken
