Cost-Effective Trading Boom: XSwap DEX Records its All Time High Volume.
XSwap, a popular trading platform on the XDC Network, hit a new milestone by crossing $1 million trading volume in last 24 hours. This marks an all-time high for the DEX and signifies a surge in its popularity within the web3 community.
Understanding Decentralized Exchanges (DEXs) and XSwap:
A decentralized exchange (DEX) is a digital platform that allows users to trade directly with each other on a blockchain network while retaining control of their funds.
Traditional exchanges like NASDAQ have professional market makers who ensure liquidity and set prices. These professionals benefit from the system by earning profits through the spread between buying and selling prices. This setup limits participation to a select group of financial experts and institutions, making it challenging for the average person to take on a similar role due to the complexities and financial requirements involved.
In contrast, decentralized exchanges like XSwap DEX empower the community to provide liquidity. This means anyone can become a market maker, offering more people the opportunity to participate and benefit. This approach broadens access, allowing more people to contribute as liquidity providers. Additionally as a decentralized platform, XSwap enables users to trade directly from their wallets without any middleman , ensuring greater security and control over their funds.
XSwap makes it easy for the community to get started with farming and staking activities, allowing users to earn rewards within secured pools. Community interested to get started can refer to these guides for Farming and Staking on XSwap. Furthermore, XSwap uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for cross-chain interoperability, providing a first-mover advantage in this area.
Trading Fee Distributed Among LP Community.
XSwap is a community-owned marketplace for cryptocurrencies. The fees generated from trading activities are distributed back to the community, supporting liquidity providers and stakeholders within the ecosystem. As anyone can add liquidity to the pool, here is the guide to add liquidity to the Xswap pool and earn.
This model not only incentivizes participation and investment in the platform but also ensures a fairer and more equitable distribution of resources. All transactions are verifiable on the blockchain, providing an immutable record of all activities.
XSwap: A Low-Cost DEX Powerhouse
XSwap is known for its competitive trading fees, which are significantly lower than those found on popular DEXs like PancakeSwap. This advantage, coupled with the XDC Network’s inherent low transaction costs compared to Ethereum and Binance Smart Chain, makes XSwap an attractive platform for cost-conscious traders.
Trading Activity on XSwap
The recent analytics data shows that XSwap had an impressive 125.27% surge in its 24-hour trading volume, reaching $1.01 million. Additionally, the platform experienced a significant 212.05% increase in the fees generated during the same period, amounting to $2.13k. Furthermore, the Total Value Locked (TVL) on XSwap has risen by 5.71%, now at $1.09 million.
Beyond the Numbers: Token Availability and Community Engagement
XSwap offers a diverse selection of over 25+ tokens, encompassing leading Real-World Asset (RWA) tokens like FXD, CGO, and EURS. DeFi enthusiasts can find DePIN tokens such as SRX and PLI, while meme token aficionados can trade Shibainuxdc. The exchange also caters to the broader XDC ecosystem by providing access to WTK, FTHM, PRNT, LBT, and CIFI tokens.
Belle, a representative from XSwap, celebrated this achievement by expressing her enthusiasm on the X social media platform. Her post highlighted this milestone as a stepping stone towards XSwap’s mission of achieving “decentralized greatness.”
Swap & Earn: Maximize Your Holdings
XSwap goes beyond just facilitating trades. It offers users the ability to Swap & Earn through secure staking pools. By depositing your crypto holdings into these pools, you can earn rewards while your assets continue to work for you. Visit the XSwap Pools to explore the available pools and learn more about adding liquidity with this guide.
XSwap’s Feature-Rich DeFi Ecosystem
XSwap offers a comprehensive suite of features designed to enhance your DeFi experience. Here’s a breakdown of some key functionalities:
Secure Swapping: Effortlessly exchange your crypto assets within a secure and user-friendly environment.
Liquidity Pools: Contribute to the overall liquidity pool of the XSwap ecosystem and earn rewards in return.
Yield Farming: Optimize your returns by participating in yield farming opportunities offered by various projects on XSwap.
Governance: XSP token holders have the opportunity to participate in XSwap’s governance process and help shape the future of the platform.
For security-conscious users, XSwap offers peace of mind. Its smart contracts have been rigorously audited by industry leaders Certik and Techrate, minimizing vulnerabilities and ensuring the safety of your assets. This focus on security, combined with secure staking pools and a user-friendly interface, makes XSwap a compelling choice for those seeking a reliable and feature-rich DeFi experience.
The substantial growth in trading volume positions XSwap as a prominent player within the XDC DeFi landscape. With its commitment to low fees and a comprehensive token selection, XSwap is well-positioned to attract a broader user base and contribute to the ongoing development of the XDC Network.
This milestone indicates XSwap’s growing influence and success within the decentralized finance DeFi ecosystem. As XSwap continues to set new records, it remains at the forefront of the movement towards a more accessible, efficient, and decentralized financial system. XSwap DEX is well-positioned for continued growth and innovation in the DeFi sector.
