The success of the Ethereum community has been each a serious step ahead for DeFi and one backward for scalability.
Now, widespread utilization of decentralized apps (DApps) is rising with the hype of NFTs and the metaverse, leading to a big variety of transactions and, subsequently, elevated processing occasions. Ethereum’s wrestle with scalability and excessive charges has led to super progress in DApps, customers and capital on alternate chains. Proper now, in line with on-chain analytics, alternate chains make up greater than 45.2% of the whole on-chain worth.
Forging the trail ahead is numerous options, various from new networks to Ethereum bridges. Whereas bridges comparable to AllBridge, AnySwap and Ronin Bridge are sometimes positioned as an answer to maneuver property to alternate chains, at current, they arrive with important complexity. Customers need to cope with the inefficient strategy of wrapping and unwrapping tokens and sourcing for liquidity. This has turn into a ache level for each skilled and inexperienced customers.
Swaps to and from completely different chains
Decreasing the complexity of cross-chain swaps is the Atlas DEX. The decentralized change is making quick and seamless swaps between completely different chains attainable by sourcing liquidity throughout a number of DEX aggregators, DEXs and automatic market makers (AMMs). Customers are capable of swap and obtain native tokens in a single transaction with out having to unwrap them after. Atlas leverages an algorithm to supply the very best charges and splits customers’ trades to essentially the most environment friendly routes whereas concurrently minimizing fuel charges and slippage. The outcome is a perfect selection for all buyers, regardless if they’re retail or institutional customers.
Nevertheless, the platform has much more within the works, as indicated by Ahmed Salam, the founding father of Atlas DEX, who shares, “These improvements don’t finish with our cross-chain DEX aggregator. The Atlas DEX crew has begun developments on new product improvements to carry better worth to the decentralized finance area and the Atlas DEX group.” These efforts have turn into evident within the crew’s newest roadmap updates.
A step in direction of cross-chain interoperability
Atlas DEX has lately launched v2.0 of its cross-chain DEX aggregator, which permits customers to seamlessly commerce cryptocurrencies throughout a number of chains in an expertise much like a centralized change (CEX).
With Atlas DEX, customers at the moment are capable of make cross-chain swaps to and from networks, together with Ethereum (ETH), Solana (SOL), Binance Sensible Chain (BSC), Polygon (MATIC), Avalanche (AVAX) and Fantom (FTM) on their decentralized platform.
In apply, Atlas DEX searches for worth and liquidity info on DEXs throughout a number of related chains. It determines one of the best ways to navigate between a specified pairing, later executing the commerce for the consumer once they point out their affirmation.
Cross-chain swaps are at the moment enabled by a burn and unlock mechanism in partnership with Wormhole, alongside DEX aggregators comparable to 1inch, 0x and Jupiter. “We are going to proceed to forge robust partnerships with initiatives within the DeFi area who wish to construct a safer, clear and inclusive monetary system,” Tina Qi, the chief of progress at Atlas DEX, shares.
Collectively, these efforts are mentioned to put Atlas DEX on the epicenter of the 15.8 trillion {dollars} in on-chain and cross-chain cryptocurrency transactions in 2021, a price indicated by crypto analysis websites.
An ever-expanding ecosystem
Atlas DEX has efficiently undergone an preliminary coin providing (ICO) in January 2022. Following this ICO, the Atlas DEX token, ATS, was listed on varied exchanges, comparable to Huobi, Gate.io and Raydium. Their personal funding spherical was led by Soar Capital, a tier-1 enterprise capital agency, in addition to participation from many extra key companions.
With robust foundations for the mission’s future developments, the Atlas DEX roadmap reveals promise in its pipeline with releases, together with an all-in-one DeFi Dashboard, Cross-chain Launchpad and new chain integrations comparable to Terra (LUNA). The ecosystem and its future developments will likely be powered by the ATS token. The crew believes that these improvements will likely be foundational to increasing their ecosystem and the token’s use case.
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