Fibswap: Providing accessibility and simplifying DEX trading across multiple chains
Throughout 2021, we saw users switch from centralized exchanges to decentralized exchanges to take back control and be the sole custodian of their crypto assets. They are finally understanding the limitations of trading and exchanging crypto assets on a centralized exchange.
As a result, decentralized exchanges gained significant market share and recorded a 680% jump in trading activity throughout 2021.
This parabolic growth happened because DeFi users increased their capital efficiency using DEXs. Thanks to features like liquidity mining and yield farming, it’s never been easier to make money work for you, given you select the right DEX platforms.
What’s is an Ideal DEX to Maximize Profits?
Most of the market share belongs to Ethereum’s Uniswap and Binance’s PancakeSwap. Both DEXs heavily contributed to DeFi growth and overall usage of AMM models. While they share common features to provide passive income for users, what happens under the hood is quite different.
The highly anticipated Uniswap V3 increased capital efficiency by introducing concentrated liquidity. This means that traders can now create custom price ranges and allocate their capital. For that reason, the amount earned through trading fees goes up significantly.
However, considering Ethereum’s high gas fees problem, it will not be ideal for many users to trade on Uniswap. In addition, not every user can find the ideal price range and backtest strategies to avoid impermanent loss.
In the case of PancakeSwap, the gas fee is minimal. But as it is built on Binance Smart Chain (BSC), traders don’t have a wide range of assets and they mostly get highly volatile exotic token pairs.
To overcome these challenges, we need to introduce interoperability. By having a multi-chain system, traders can swap from different networks and get maximum exposure. Currently, the leading provider of multi-chain DEX solutions is FibSwap.
FibSwap Makes DEX Trading More Accessible & Profitable
Fibswap is an interoperable decentralized exchange that aims to provide greater accessibility and simplify DEX trading across multiple chains. The multi-chain bridge system of FibSwap uses a smart algorithm. Some of the blockchain networks compatible with Fibswap’s IMBS are Ethereum, Binance Smart Chain, Polygon, and Fantom.
By using $FIBO tokens, FibSwap drastically reduces the transaction fee and allows users to execute swaps in a small amount of time. Though it is a multi-chain DEX, the swapping process on FibSwap is no different from single-chain DEXs. With the latest mobile app, Fibswap is also solving an industry-wide problem — a fragmented user experience.
Trading on FibSwap is more profitable compared to others because traders earn a percentage of trading fees for every trade, making the system more profitable and capital efficient.
$FIBO Holders earn from every trade that happens on their decentralized exchange. Their DEX is unique in the sense that holders do not need to stake to earn from being a token holder. Therefore, the more volumes that go through their exchange, the more benefit they get directly from those volumes.
Crosschain DEXs to Redefine Crypto Trading?
With DEXs like FibSwap, it becomes easier to drive mainstream adoption of decentralized exchanges. It costs low fees, takes less time, and more importantly, allows users to bridge different blockchain networks and earn back a considerable amount in trading fees. So, with such incentives and a transparent trading model, FibSwap could spark a new market behavior towards DEXs, ultimately driving mass DeFi adoption.
Disclaimer: This is a paid post and should not be treated as news/advice.