SwapDEX – A DeFi Decentralized Exchange (DEX) Hybrid

Project Reviews / 06.12.2020

SwapDEX is a next-gen DeFi and token exchange ecosystem. The platform is unique in the market due to its dual exchange approach and its wide selection of investor tools. The developers behind the SwapDEX concept managed to combine the best aspects from DEXs with the profitability of DeFi. Consequently, this network features various financial products to enable the trading of cryptocurrencies and ERC-20 tokens. Impressively, SwapDEX users get benefits from loans, interest, borrowing, staking, and leverage trading.

Benefits of SwapDEX

SwapDEX is a new type of DeFi network that pushes the boundaries of the market. This hybrid protocol is an Ethereum blockchain-backed all-in-one decentralized ecosystem designed to compete against market titans such as Uniswap. To that extent, the platform has some unique options, including free listings for new tokens, high liquidity, and trading functionalities, including those missed from Uniswap, such as limit orders.

Uniswap currently dominates the ERC-20 Dapp ecosystem. The platform provides liquidity and an easy way for new projects to launch in the market. However, Uniswap is very basic in its functionality. The platform lacks many of the key features that investors migrating over from centralized exchanges desire. SwapDEX directly fills this void with its intuitive trading interface. 

Fees

SwapDEX users benefit from lower and more predictable fees. The introduction of limit orders helps investors to plan out their fee structure better when compared to Uniswap. The network’s competitive fee structure is based on your transaction amounts and staking periods. Notably, you can save on fees by using the network’s governance token whenever possible.

Governance

The entire SwapDEX project was built from the ground up with decentralization as a core principle. The network fulfills this desire through its decentralized governance protocols. Each SDX token holder has the right to control stablecoins and send proposals to alter the platform rules. Token holders vote on these proposals, and the ones that receive approval go into direct action. 

Privacy

Amazingly, SwapDEX doesn’t require any KYC or AML requirements. You can trade with your privacy intact. In this way, SwapDEX demonstrates another benefit of the DEX sector. However, you will still need to utilize a Tor browser if you wish to conceal your IP address from the network. 

Open Market

Significantly, new projects can add their tokens to SwapDEX for free. In this way, the platform seeks to become a vital liquidity provider for innovation in the sector. Users can also enjoy access to these projects and leverage their profits into DeFi mechanisms to further their investment goals. 

SwapDEX Interoperability

Keenly, anyone can build applications on the SwapDEX protocol. The network features an open-source code that has been vetted by security professionals. Open-source codes are more secure than private coding because they undergo community review. Open-source projects also guarantee no shady business is going down in the background processes of the network. It’s recommended you only invest in open source DeFi platforms to avoid scams.

How Does SwapDEX Work?

swapdex decentralized exchange app

The SwapDEX protocol leverages smart contracts to remove all human intervention from the equation. Smart contracts eliminate human error and ensure that all processes occur on the blockchain and with full transparency. This strategy provides investors with more confidence and trackability.

SwapDEX DEX (Decentralized Exchange)

The SwapDEX exchange is a non-custodial trading option that provides lower fees and streamlined trading. Users gain the ability to choose between becoming a taker, maker, becoming a liquidity provider, or just swapping assets. Best of all, the entire process is a direct wallet-to-wallet trading experience that only takes seconds.

SwapDEX – Swap System Protocol

SwapDEX also introduces Trading Pools into the equation. Trading pools allow users to trade their crypto directly from their wallets. Users gain access to hundreds of markets straight out of their wallets. This feature is way cheaper than using a centralized exchange and provides you with extra rewards for participating in the pool.

SwapDEX Staking

Another powerful feature you will enjoy on SwapDEX is staking. The platform supports various forms of DeFi staking. Staking is one of the top features found in the market today because it allows new users to earn a guaranteed return. In the SwapDEX ecosystem, your rewards come from transaction fees. This redistribution model provides the entire network with more profits. Rewards are paid in SwapDex’s stablecoin: USDX.

SwapDEX – P2P and In-House Loans

Keeping in line with their goal of providing advanced DeFi functionalities, SwapDEX offers users decentralized loan options. You can get loans directly from the platform or other users. You can also offer loans via staking in the platform’s yield farming pools. 

Yield farming protocols flip the traditional centralized loan model on its head. Instead of banks reaping huge profits, regular users earn interest for lending out their idle crypto. Yield farming lenders never have to worry about their loan repayment because other pool funds ensure that they always receive their profits on time.

SwapDEX SDX Token

swapdex sdk token info

The SDX token is the primary governance token for the SwapDEX ecosystem. You receive rewards in SDX tokens. These are also the tokens you stake in the many liquidity and trading pools the network includes. SDX tokens play a vital role in determining how much say you have in the governance model. The more tokens you hold, the more control you have when it comes time to vote on essential upgrades, new pools, or other protocol changes. 

SwapDEX Network Stablecoin

SwapDEX developers intend to introduce a network stablecoin, USDX, to simplify many of the network’s most vital functionalities. Stablecoins are ideal for staking and rewards because they are easier to monitor in terms of accounting. They also ensure that your rewards don’t dwindle due to market volatility.

SwapDEX – The Right Combination of Features

You would be hard-pressed to find a more inclusive platform than SwapDEX. This network promises to simplify crypto and DeFi investing across the sector. For these reasons, you can expect to hear a lot more from the team in the coming weeks as the platform’s investors begin to receive their ROIs.

Useful links

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David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.