TL: DR;
- We know that the core functionality of the Decentralized Exchanges in the DeFi ecosystem is to eliminate the need for a third party or an intermediary for users to execute peer-to-peer transactions.
- While this makes its popularity and precedence over centralized exchanges two-folds, the innovative solutions that the modern-day DEX’s are bringing in are only adding more preferences to the whole decentralized module of transferring assets.
- The article covers one such supremely powerful and very popular DEX of the DeFi Ecosystem, SushiSwap, with a fine side-by-side correlation with ZeroSwap with the idea to establish how far their magnificent range of features are compatible and the digressing points of indifference.
SushiSwap- A quick introduction
An Ethereum-based decentralized exchange, SushiSwap is a multichain protocol that allows users to swap a wide variety of tokens using its protocols and deploy other financial services across multiple chains. SushiSwap is very much similar to UniSwap, where it has no centralized authority guarding the transactions. But, instead, it relies on smart contracts, coded and automated processes, and liquidity provided by other users to complete trades.
ZeroSwap v/s SushiSwap
- ZeroSwap empowers its wide user base with zero-fee and gasless transactions. Like all other Ethereum-based protocols, SushiSwap has been seeing a sharp rise in gas and transaction fees due to high network congestion.
- ZeroSwap would build the Market Making Suite, which aggregates all the leading AMMs on every blockchain network. In contrast, SushiSwap is built on an automated market maker that uses smart contracts to execute transactions.
- While swapping tokens, SushiSwap allows users to access and operate other prominent DeFi features like staking SUSHI coins and earning rewards. On the other hand, ZeroSwap allows its users to access its product suite, which includes a wide array of features like staking, participation in IDOs through its DEX offering, ZeeDo maintaining 100% fairness and transparency.
- ZeroSwap’s decentralized ethos goes much beyond the DEX. With its recent acquisition of the DeFi Wizard, ZeroSwap is now fully capable of providing a wide range of services like Cross-Chain bridges, Token Contracts for multiple blockchains, Staking, Yield Farming, to name a few. Similarly, SushiSwap’s community ethos also goes beyond the DEX offering with one of its key differentiating features, BentoBox, where additional DeFi services can be built upon but are only accessible to limited networks.
- ZeroSwap enables its users to exercise liquidity on any of the leading AMMs while accessing the same on the ZeroSwap Dex, whereas SushiSwap allows its users to establish a liquidity pool by creating trading pairs and supporting a wide range of tokens for users to swap.
- Both ZeroSwap and SushiSwap enable their users to stake their respective native tokens and earn rewards through their individual staking module.
- ZeroSwap and SushiSwap are now expanding to other blockchains and embracing layer-2 scaling solutions with the core idea of creating an ecosystem where transaction fees can be minimized. As a result, confirmations on the transactions can be minimised speed up.
A little bit more about ZeroSwap and what’s in store for the future!
ZeroSwap is a multi-chain compatible decentralized exchange aggregator aiming to make on-chain trading simple and easy by providing access to Ethereum, Binance Smart Chain, Polygon and DEXes access under one roof.
Moving further, we will bring more chains like Avalanche, Fantom, Reef, and Solana under this roof.
Moreover, ZeroSwap will eventually venture into being a standalone solution for companies to empower them to launch their tokens on ZeeDo, list their tokens on ZeroSwap Dex, and invite their users to participate IDOs enhance token trades by providing LP with an exemplary user experience.
Plus, with the acquisition of DeFi Wizard, ZeroSwap spreading its wings across by providing solutions like Vesting Contract Deployment, Token Contracts for multiple blockchains (ERC20, BEP20, Polygon) Staking, Yield Farming on Multi-chains, Bi-Directional Bridges currently for ETH <> BSC, ETH<>Polygon.
We will also have multichain farms on DeFi Wizard as we advance, where $ZEE and $DWZ tokens will be closely compiled.
Summing up
Decentralized Exchanges are completely revolutionizing the way customers do business with financial institutions, in general. With every little step, we are on our way to strengthen our vision of building a multi-chain ecosystem that is 100% decentralized and permissionless.
About ZeroSwap and ZeeDO:
ZeroSwap is a multi-chain compatible decentralized exchange aggregator focused on making zero-fee transactions possible. We aim to make on-chain trading simple and easy by providing Ethereum, Binance Smart Chain, Polygon and DEXes access under one roof. One of the core utilities of ZEE is to reduce friction in fundraising using digital assets. To solve that, we have built a Dex Offering Platform Called — ZeeDO.
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