TL: DR;
- The role that Decentralized Exchanges play in the DeFi Ecosystem is undebatable. However, they form the core functionalities of the ecosystem. This article uncovers one of the most popular DEX’s of the current times, UniSwap and in the light of how it differs and relates with ZeroSwap.
- While what UniSwap brings to the table is commendable, ZeroSwap is also taking the DeFi ecosystem in stride with the magnificent range of product suites and the contemporaries that we have to offer.
- Be all set to take a deep dive into a MultiChain Dex Aggregator solving the key problems in the Decentralized Finance industry and know about the gasless transactions, ZeeDo and staking at ZeroSwap.
UniSwap — A quick Introduction
The growth of DEX’s in the DeFi ecosystem has been massive, especially given that they provide a superior alternative to conventional crypto exchanges by enabling users to swap tokens directly. The whole idea of DEX’s was born with the need to eliminate intermediaries.
One such gigantic player in the current DeFi Ecosystem is UniSwap. In a nutshell, Uniswap is the first-ever Ethereum-based AMM DEX that allows users to swap ERC-20 tokens. Like most of the DEX’s in the ecosystem, UniSwap also tries to solve various problems of centralized counterparts, which includes the risk of hacking, mismanagement, and arbitrary fees, amongst more.
ZeroSwap v/s UniSwap
- ZeroSwap’s key utility is that it allows users to stake its native token $ZEE on the ZeroSwap Staking Module, which lets them access the products of ZeroSwap. In contrast, UniSwap’s key utility is to solve the liquidity issues in the decentralized spaces by allowing the exchange to swap tokens without relying on buyers and sellers creating that liquidity.
- ZeroSwap enables multi-chain transactions all built under one robust UI, whereas UniSwap only supports Ethereum Blockchain.
- ZeroSwap enables zero-fee and gasless transactions, which would be done via transaction fee mining when the protocol is launched, whereas UniSwap charges users with 0.3% fees for swapping tokens, 0.05% of the transaction for using their protocol.
- ZeroSwap has built a bi-directional solution for users which lets them move $ZEE tokens from ETH<>BSC and ETH<>Polygon, whereas UniSwap only works on ETH blockchain and dethrones the concept of a limit order book entirely.
- UniSwap allows permissionless listing of ERC20 tokens on its protocol, whereas ZeroSwap allows permissionless listing of tokens across multiple chains.
- ZeroSwap’s DEX offering platform, ZeeDo, provides a distribution platform for companies that wish to raise funds using the decentralized mediums via IDO’s. Similarly, UniSwap gives room for many projects to launch directly, providing users with fast access to a broad range of tokens.
- ZeroSwap and Uniswap do not have a KYC verification process, making it friendlier for users and making the process 100% decentralized.
More about ZeroSwap and what’s coming next!
ZeroSwap exchange is further being integrated with Market Making Suite by initially taking the support of leading AMM Dexs on various blockchains like Ethereum, Binance Smart Chain, and Polygon, adding Liquidity Farming Opportunity.
A pricing mechanism for transaction fee mining will come into play when the protocol is launched. From first day of the launch, we will bootstrap the gas from our side and thereafter, whenever there is a trade where $ZEE tokens are generated, they will be kept in reserve and will be used to fund the gas fees.
Moreover, we will provide the users with LP rewards in $ZEE every time users provide liquidity to existing AMMs. This is an additional benefit combined with earning the existing AMMs tokens.
With our mainnet, we focus more on integrating EVM compatible blockchains before starting the mobile development first to have more chains integrated. Also, we are working very closely on building the mechanisms for ZeeDO 2.0, Staking 2.0, and revamping the UI for more effortless navigation.
We will have multichain farms on DeFi Wizard, where ZEE and DeFi Wizard tokens will be closely compiled as we advance.
Summing Up —
What merely emerged as an alternative to centralized exchanges, the decentralized exchanges are massively shaping the future of DeFi. Driven with the sole idea of keeping your assets under your control without any interference from the intermediaries, the leading exchanges today are taking one step further to provide more and more value to their customers with every integration and every update. It’ll be interesting to see how exchanges like UniSwap and ZeroSwap coherently take and shape the idea of “decentralized exchanges” in the coming times.
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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