From humble beginnings, cryptocurrencies have evolved to become a distributed industry, with thousands of independent ecosystems embedded within it. Each ecosystem typically has a digital asset standard of its own, as well as potentially hundreds of independent tokens providing access to various services within the ecosystem.
Maintaining the large token portfolios required to optimally navigate through all these ecosystems has been a cumbersome and labor-intensive task, especially for casual crypto users.
For instance, consider a user on the Ethereum blockchain who holds some ETH. In order to play a game on a service within Ethereum, he needs to have the native token of this gaming platform, as ETH is no longer applicable. In this context, buying and holding hundreds of different tokens within the Ethereum ecosystem is not only impractical but also quite expensive. This is exactly why swap services were created for the crypto space.
Using these services, users can swap one token for an equivalent value of another token whenever required, without having to buy and hold tokens for hundreds of services within the ecosystem. A good and obvious idea in principle, its practical application has however become challenging as of later, due to the recent surge in gas fees and transaction times for swaps on Ethereum.
But now, the launch of the ExpX Finance Protocol on the Binance Smart Chain (BSC) promises to change a typical swap scenario forever.
Swapping Made Easy
ExpX Finance is a decentralized exchange, yield farming platform, and multi-asset portfolio manager for the BSC ecosystem. With a transaction speed of under three seconds, and minimal gas fees for every transaction, ExpX on BSC is the ultimate alternative to Ethereum-based DEXs for swapping and trade. Even the largest of swaps can be performed on the platform with minimal slippage.
The best part, however, is ExpX’s Smart Transaction Routing feature. On ExpX, users can create and provide liquidity for token pools, containing up to eight different tokens, to facilitate diversification. The Smart Transaction Routing feature allows users to swap tokens not only within these pools, but also between them. Consider this example:
Suppose a single pool on ExpX contains BNB, BUSD, and CAKE, and a different pool has WBNB, ETH, and USDT; users can easily swap BNB for ETH between these two pools using the Smart Transaction Routing feature.
As long as the required tokens exist in sufficient quantity anywhere within the network of available pools, ExpX users can simply select the source & destination tokens, and the protocol will establish an optimal route for facilitating this swap.
Swaps like these are the first of their kind, and allow users to better leverage their existing assets to navigate between different ecosystems, and manage their portfolios. They also eliminate the need for users to jump between different swapping protocols in search of an optimal swap rate.
The DEX for the Future of DeFi
Even though Ethereum is currently the largest DeFi ecosystem, it has become apparent that the network wasn’t built for mass adoption. Therefore, DEXs and other protocols built on Ethereum continue to be stifled by high gas fees and network congestion.
The BSC successfully solves these problems, and is a perfect platform for projects like ExpX to provide a better value proposition to DeFi users.