Introducing Shiftly on Mainnet—Find the best prices & swap instantly
Find the best prices & swap instantly crypto-assets like Ethereum and ERC20 tokens.
Today we’re very excited to launch Shiftly on Mainnet. You can now find the best quotes for swapping cryptocurrencies through Kyber network, Airswap and Uniswap protocols and swap them using 1 single application.
When we started Shiftly, we decided to focus on user experience, which is one of the most challenging aspects of existing solutions. Indeed, there isn’t a central place to search for the best price and liquidity when comes the time to swap two assets on Ethereum. The journey to find the information is painful and when you find it, you need to look for a DEX (decentralized exchange) to perform the swap and potentially see the price going up and down in-between.
Months later, we’re ready to open up Shiftly and let you find the best prices to exchange instantly your assets.
Want to jump right in? Swap now.
Otherwise, read on to learn about our core concept and our next features.
No more waiting — Introducing Instant trading
At Shiftly, we want to make asset swapping easy, instant and secured. This is the reason why we have combined Kyber Network, Uniswap and Airswap’s liquidity models.
Kyber Network — Kyber’s guaranteed liquidity is a great tool as it allows us to match orders instantly. Once a transaction is included on the blockchain, that means the tokens swap is executed. No more waiting time.
Airswap— Integrating Airswap’s order book brings us more liquidity as well as no price slippage. What you see is what you get instantly.
Uniswap 🦄 — Uniswap is a decentralized exchange protocol launched on the Ethereum mainnet in November 2018. Uniswap’s liquidity reserve model has been drawing a lot of attention over the last months and it was natural for us to integrate it.
Over the next few weeks, we plan to integrate more protocols in order to broaden our token offering and increase our liquidity. By aggregating multiple liquidity pools, we aim to enhance the efficiency of decentralized exchanges.
WTF ?— A decentralized exchange with no order-books, no wrapping, and no account
We think that token trading should be simple and efficient. The large majority of existing exchanges present the same features and functionalities. They often are over-complicated and users can easily get lost. This is especially true for decentralized exchanges where a minimum knowledge is often required to trade and swap.
Our team saw an opportunity to build a platform as easy as:
- Connect your wallet — You can use Metamask, Ledger, or any Web3 enabled browser.
- Select which tokens pair you want to trade.
- Set the desired amount and swap instantly at the best price.
The result is a simple and efficient UI (user interface) with an interaction model where people can trade instantly a token they hold, like $ETH, for another token they want, like $BAT or $DAI.
You don’t need to wrap your $ETH or look for the best price in a chaotic order-book. That means less time spent exchanging your crypto-assets.
Finally, when trading on Shiftly, you remain in total custody of your assets. There is no need to create an account or to wonder whether your funds are safe.
We will not be charging fees during our Mainnet beta. We’re currently testing different models of revenues.
As an instant-trading exchange, we want to offer the best possible price and execution to our users. Our matching engine finds the best prices according to the trade size and liquidity. By aggregating more liquidity providers, we aim to offer you the best price discovery model while limiting slippage.
Combining Airswap, Uniswap and Kyber Network liquidity networks allows us to have a broad token offering to start with. We currently support more than 150 tokens and therefore hundreds thousands of swap possibilities!
Minimum Acceptable Rate
For more flexibility, we display in our UI a feature that allows you to set up a Minimum Acceptable Price. That means your swap won’t be executed if the desired asset’s price goes down by x %. So far, this feature is relevant to trades executed via Kyber Network as Airswap does not have any price slippage.
Airswap, Uniswap and Kyber provide us with tools to trade in total security in a decentralized fashion. There is no transaction, settlement risk or counter-party risk. Settlements are done instantly and there is no transaction uncertainty. What’s more, there is no need to open an account, making a deposit or wondering about any potential withdrawal fees.
We will soon announce a large Shiftly feedback survey to gain knowledge on what people think of Shiftly and how we can improve the dApp. This survey is meant for all different user groups of Shiftly. Beta users looking for a better alternative than the decentralized exchanges out there, other projects wanting to partner with Shiftly to enhance liquidity and tokens variety, and people looking to help us grow.
To do for the next weeks
- Integration of additional liquidity providers.
- Multi-asset swaps: bundling several swap orders in one transaction.
- Make our users happier :-).