PlasmaSwap Is Live! See Why We’re Primed to Shake Up the DEX Landscape
Rebalancer, New Liquidity Partners, DeFi Market Aggregator and more..
We told you it’s going to be a big deal. We told you it’s coming. And we’re telling you: the much-anticipated PlasmaSwap DEX from Plasma.Finance is live!
PlasmaSwap slots into the Plasma.Finance dashboard, delivering a powerful tool for conducting token swaps. This enhances the Plasma.Finance ecosystem, strengthening its status as the jumping-off point for users embarking on their DeFijourney.
Plasma.Finance is a DeFi aggregator that simplifies the process of interacting with decentralized finance protocols. Its intuitive and user-friendly interface drives down the barriers to DeFi adoption and lowers the learning curve, placing the tools for financial freedom in the hands of users the world over.
Shaking Up the DEX Landscape
Decentralized exchanges (DEXs) have changed the game for crypto traders, providing access to a wealth of emerging and established tokens, with no custodial risk. The past year has seen decentralized exchanges and automated market makers (AMMs) capture a huge slice of the crypto exchange market, eating into the volumes that were once consumed by centralized exchanges.
The DEX ecosystem is fiercely competitive with major players like Uniswap, Curve, SushiSwap, dYdX, and 1inch battling for market dominance. Trade volumes, which have been steadily rising for several months, soared past $50 billion for the first time in January. Clearly, the ability to trade ERC20 tokens in a non-custodial fashion, without having to bend the knee to KYC/AML, is something privacy-conscious users appreciate.
The DEX explosion has not been without its drawbacks, however. Rising on-chain fees have rendered DEX trades off-limits to regular users, who simply can’t afford to spend upwards of $100 just to swap between tokens. The lack of interoperability has also limited the range of assets that are available to trade. Ethereum AMMs like Uniswap, for example, can only be used to trade ERC20 tokens including a limited range of wrapped assets such as WBTC.
PlasmaSwap has been designed to build upon the foundations laid by the first wave of DEXs while overcoming their shortcomings. Crucially, it will be the first DEX to operate with a fully decentralized infrastructure. Not only are swaps conducted on-chain, but the backend is hosted on a decentralized web infrastructure. This will result in a trading experience that is truer to the core principles of DeFi and result in a DEX that cannot be shut down.
Stop-Loss Functionality and Single-Tx Liquidity Rebalancer
Unlike existing Swaps, PlasmaSwap lets users set up limit orders (take profit, stop loss) by fixed price, offering functionality more akin to that of a centralized exchange. Traders using PlasmaSwap can utilize limit orders to wait for the market to reach a certain price target to buy or sell an asset, an attractive feature in a market that moves at warp speed.
Another industry first is PlasmaSwap’s native Flash Rebalancer: 1 transaction to rule all your liquidity adjustments. Did you know you normally need at least 4 transactions to manually move liquidity from one pool to another? Ain’t nobody got gas for that!
The ability to rebalance your portfolio of different LP tokens in a single transaction isn’t just simplified… it now means even more control and opportunities for arbitrage traders and pool managers.
Sophisticated Analytics and Decentralized Market Data via a Slick UX
PlasmaSwap is built around a highly professional trading interface, particularly when compared to the current UX of popular AMMs. While some will argue that it is the simplicity of existing DEXs that make them so appealing, seasoned traders invariably prefer to operate from a comprehensive terminal complete with advanced tools, trading view charts, market liquidity depth, analytical data on token pairs, and transaction history. Certainly, these are elements that traders coming to crypto from traditional finance will expect and appreciate.
Speaking of which, PlasmaSwap will benefit from integrated fiat on/off ramps right out the gate, enabling users to buy and sell 53 digital assets using Visa/Mastercard as well as bank wire. Again, this is the sort of advanced functionality that will help to onboard the next wave of DeFi investors, both those who are already familiar with crypto and users more accustomed to speculating on forex, commodities, and indices.
Yet another awesome feature to supplement the PlasmaSwap DEX will be a Decentralized Markets page. A CoinMarketCap for DeFi, if you will, feeding off decentralized data sources.
For users, this means you can use authentic data across 700+ token markets (to start, it will soon grow to 1,000+) to make informed decisions about your next yield strategy. For projects, this means when you choose to put your liquidity on PlasmaSwap, you can apply to have an objective metric assessment and not hope you make it on some other centralized list based on arbitrary, non-transparent rules.
No more fake volumes, no more bot data. You’re going to wonder why you ever used another platform before!
On the Horizon
PlasmaSwap is a cross-chain DEX capable of taking DeFi to the next level. Built on Ethereum and its own lightning-fast Plasma DLT, the advanced AMM will be a game-changer for DeFi traders.
Because our developers never sleep, you can look forward to even more unique features coming to PlasmaSwap. Most notable is Plasma’s HyperLoop Bridge Protocol. In effect, this layer-two solution represents a gateway to Plasma’s high-throughput (50,000 TPS) proprietary blockchain, which lightens the load on overburdened networks such as Ethereum. Better still, the PlasmaDLT operates on a zero-fee model, with the potential to save traders a fortune.
Thanks to HyperLoop, it will be possible to transfer your asset between, say, Uniswap on Ethereum to the Plasma DEX on PlasmaDLT, and to do so cheaply and quickly. When the trade is complete, you can, if you so wish, port your cryptocurrency back over to the Ethereum blockchain, again avoiding the eye-watering fees that are endemic during busy periods. Everyone’s a winner.
The second phase of PlasmaSwap’s evolution will see the launch of HyperLoop, bringing cross-chain support for various projects, such as Binance Smart Chain (BSC) and Polkadot. At present, the Plasma blockchain supports 42 stablecoins and its native token, PPAY. Coupled with the fact that it can represent assets from other chains as described above, it’s easy to see how PlasmaDLT can bring DeFi to the masses.
In short, PlasmaSwap is a shot in the arm for a DeFi landscape that’s already riding a tsunami wave. Things are about to get very exciting.
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