This platform allows you to trade on all decentralized exchanges at the same time: ParaSwap
With ParaSwap you can use all DEX at the same time
ParaSwap is a platform that offers a simple, fast and secure way to exchange native Ethereum tokens, by bundling the liquidity of many decentralized services in a single interface.
The project aggregates decentralized exchanges and other DeFi services into an interface that streamlines and facilitates user interactions with the decentralized finance of the ethereal network.
ParaSwap brings together liquidity from major decentralized exchanges into an ideal interface that abstracts most of the complexity of exchanges, to make it simple and accessible to end users, which is the most important thing.
Thus, when you enter this exchange and check the price of a given ETH/ERC20 token, the platform reviews all the exchanges that it supports offering this pair to find the best rate.
How does ParaSwap work?
ParaSwap’s exchange interface is similar to Uniswap’s, with additional information related to the various optimizations that are implemented.
In fact, as a user, the path is always the same: enter your two tokens, the one to change and the one to buy, and ParaSwap will calculate the rest.
The platform abstracts the complexity of comparing prices (factoring gas costs and other variables) for the user, so they can focus on their business strategy or learn more about the fundamentals of the space.
It goes beyond just simplifying the exchange: ParaSwap will warn you if your desired transaction is at risk of price sliding or failure.
Also, if you are exchanging tokens with the intention of sending the acquired tokens elsewhere, consider the Swap & Transfer option better.
It is exactly the same as doing a simple exchange, except this time the obtained tokens are sent to another address that you have selected.
Platform use cases
The potential of ParaSwap provides various use cases, such as:
- Big changes, or exchanges
Big Orders, also known as ParaSwap’s raison d’être. Thanks to the ability to split orders across multiple decentralized exchanges, the platform is often the most efficient solution for orders> 15 ETH.
- Optimize capital deployment
MultiPath increased the efficiency of ParaSwap even further by enabling new use cases.
It helps optimize a series of transactions that involve interactions with various decentralized finance (DeFi) protocols.
Now you can interact with smart contracts like Aave’s or Compound’s warehouse contract, directly from ParaSwap.
Thus, it allows interesting opportunities such as direct and efficient collateral swaps between the two, such as a cDAI -> aDAI exchange.
- Earn and save
Thanks to MultiPath, ParaSwap can be used to aggregate your DeFi operations and reduce the impact of gas costs on your strategies.
For example, if you are active in the ERC-20 token market, ParaSwap will help you make profit and save in an optimized transaction: LINK just broke ATH? You can LINK -> toUSDC to take profit and start earning with it on an exchange.
- Pay friends
If you need to make a payment in a currency that you do not own, you can use ParaSwap to avoid unnecessary additional steps.
You can pay them from any of the tokens you own with Cambio y Tranfiera (‘Swap & Transfer’) and ParaSwap handles them by sending them for you.
Offer the best Ethereum service
ParaSwap is a native Ethereum application. The infrastructure adheres as closely as possible to the chain to maximize the resistance and transparency of the service.
Thanks to a carefully thought out design that makes use of the best services of the ethereal blockchain (GST, Chainlink, etc.), the platform has been constantly serving its users since its inception, even when the markets go crazy (spikes of gas prices).
ParaSwap is constantly the first DEX aggregator providing access to new relevant and cutting edge DeFi services such as Aave or Idle Finance.
The exchange contract is also insured at Nexus Mutual for technical failures with coverage capable of reimbursing up to 1000 ETH if required.
The functions of ParaSwap
ParaSwap gives its users access to several main functions:
- Swap: simple and optimized token exchange
- Swap & Pay: swap a given token in one direction for another token in another direction (ETH in direction A -> DAI in direction B)
- Earn: lock your asset to provide liquidity to Bancor and earn a portion of the commissions generated.
- Price alerts: to receive a notification by email or URI (developers) when one of your alerts is triggered.
In addition to those main features, ParaSwap includes several optimizations to optimize your experience – we’ll cover these in another article.
How to use the platform?
You don’t need to create an account on ParaSwap to use the platform, all that is needed to get started is an Ethereum wallet like MetaMask.
Once this is done, the user must:
- Enter a pair of tokens and an amount, for example: exchange 1500 DAI for ETH.
- ParaSwap checks the rate on all exchanges it supports where the pair is available.
- Provides a complete overview of the best trade route found for the user.
- The user signs a first transaction (“Allow”) to allow ParaSwap to interact with their DAI balance. (This step is not always necessary, see below)
- The user can now click the “Trade Now” button to confirm his transaction and execute the trade.
- The exchange contract executes the exchange and delivers the purchased tokens to the user.
ParaSwap’s user interface displays various data points related to your trade, projected to help you understand routing, gas costs, and price impact.
- Estimated Cost: the total Ethereum gas costs of your transaction.
- Price Impact: the average slippage expected in the various groups involved to settle the requested change.
- Minimum Received: The prices in the cryptocurrency markets fluctuate constantly. The minimum amount received corresponds to the worst case for your operation.
For any trade, you will find the order link details below the price chart. If you hover over an arrow between the two steps, you can see the details.
If you have long-term ETH and ERC-20 tokens, you may want to put them to work as well. With ParaSwap, you can provide liquidity in Bancor token pairs with one click.
Do you want more information? Visit to ParaSwap.
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO and should not be attributed to CriptomonedaseICO.