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The crypto landscape has changed many times over the past 12 years, and it is nearly unrecognizable from the early days. Countless issues were resolved since 2009, and while some big ones still persist — developers are working towards solving those, as well.
More importantly, the crypto industry is expanding, maturing, and developing into a more complex version of itself. Of course, it went through a lot of different stages to get to where it is right now, and most of them turned out to be dead ends.
But, this was also educational, as it is always worth exploring every road in order to see where it might lead, and what may lie at its end. The most recent road that the crypto industry has taken is into the decentralized finance (DeFi) sector, and so far — it looks very promising. The development of this sector even gave birth to a decentralized exchange that holds the potential to become a global leader and carve out a path for future generations of DEXes. The exchange in question is called SwapDEX, and what it brought to the table is nothing short of game-changing.
What is SwapDEX?
SwapDEX is a new and upcoming decentralized exchange that is rising through the ranks at an impressive speed. It functions as an all-in-one platform for every crypto user’s needs. Not only does it operate as an exchange, but it also has its own DeFi service-focused blockchain, which is fully compatible with ERC-20 tokens.
But, what does all of that mean? Well, SwapDEX does not work as a typical DEX. Of course, it allows users to exchange cryptocurrencies wallet-to-wallet, with no need to deposit their funds in the exchange’s wallet. That way, users get to keep their private keys, and their funds remain in their own, private wallets.
But, more than that, SwapDEX also offers a variety of decentralized finance services that are usually only available on specific DeFi-focused projects.
For example, users who wish to take a crypto-backed loan no longer have to go to Aave. They can now take a loan directly from SwapDEX, or even from another crypto user, through SwapDEX. This is possible thanks to the fact that SwapDEX offers in-house loans, as well as P2P loans, which allow its users to make a deal with one another.
Apart from offering loans and the ability to exchange tokens, SwapDEX also offers SWAP, OTC, Staking, stablecoins, dApp development platform, and even free coin listings for everyone who has their own token, and needs a place to offer it.
Even all of that is only scratching the surface of what this exchange has to offer.
Other Benefits of SwapDEX
As a decentralized exchange, SwapDEX allows users to trade crypto directly from their wallets, as mentioned. However, an even greater advantage is that SwapDEX also doesn’t require users to create accounts on its platform.
Users of centralized exchanges are obligated to register, and even go through a KYC procedure to confirm their identities in order to trade. SwapDEX allows anyone to exchange their coins without any of that. All it needs is for users to come to its platform, offer a deal, and wait for someone to take it.
It is fully automated, meaning that no one needs to wait on human interaction, or even on any kind of the third party. Every process is taken care of by smart contracts, with everything being open-source and available for inspection at any time.
Not to mention that SwapDEX also has its own cryptocurrency, SDX. Apart from having a native coin that can be used throughout its ecosystem, SwapDEX also offers special benefits to SDX holders. For example, those who own the coin are eligible to participate in the project’s governance.
In other words, they can give proposals regarding the network, which lets them propose changes and new ideas on which other token holders can vote. Naturally, users can also vote on proposals submitted by others. In addition to that, SDX holders will also be able to benefit from loans, interest, borrowing, staking, and trading with leverage.
Liquidity providers get to benefit from adding to pools, which will allow them to earn a percentage of the trading fees within the exchange, or those that are paid through real-life uses of the SDX token. With everything that the exchange offers, it is a great platform for earning passive income.
Similar services are available in the rest of the DeFi sector, but they are scattered around with one or two offered per project. SwapDEX offers them all on its platform, and it is worth keeping in mind that the exchange is extremely young. In other words, there is no telling what kinds of additional features might emerge in months and years to come.