Does DeFi Trading Have to Be Complicated?
October 21 2021 - 10:00AM
NEWSBTC
Currently, DeFi is too separated and disjointed. This complicates
DeFi trading to the point where it becomes confusing,
time-consuming, arduous and expensive. The number of total DeFi
users has surpassed 3.5 million people, and overall DEX trading
volume is at $816 Billion for the last year. The average number of
weekly DEX traders is more than 200,000, and approximately 40% of
them are facing problems with multi-step transactions. Swapping an
ERC-20 token for a BEP-20 token requires the following steps: A
token swap on an Ethereum DEX to a bridge-compatible token; Then a
swap across the bridge; Then an additional swap on a BSC-based DEX,
to get to your targeted BEP-20 token. This process is clunky, can
be very confusing, requires both source and target network’s native
assets, and ultimately it ends up being very expensive. There are
numerous projects that aim to solve one or two issues. However, no
one is trying to consolidate everything into one location… except
for Rubic. Among other projects, Rubic has come up with a helpful
feature – Multi-Chain Routing, which massively simplifies the
process of trading tokens across different networks. Rubic combines
the first step (bridge) and the second steps (exchange) into one
Swap, offering the best route; taking into account the liquidity
and cost of gas, to give the user the best value possible. Rubic is
a Multi-Chain swap protocol with an opportunity to swap more than
9,500 tokens between 4 blockchains: Ethereum, BSC, Polygon and now
Avalanche. Rubic has a year-long experience in DeFi and a trading
volume of $53,970,125. Rubic’s goal is to integrate one blockchain
every month; the last one, Avalanche, took place in October.
It included the integration of three major DEXs on the Avalanche
ecosystem: SushiSwap, Trader Joe and Pangolin. It will provide its
users with significantly better rates and lower fees for
Multi-Chain Swaps on Avalanche. In regards to the Avalanche
Multi-Chain Routing integration into Rubic.exchange, Rubic is
offering users a Gas Refund for Multi-Chain Protocol transactions
of $200 or more within the Avalanche ecosystem. Currently, Rubic
has built partnerships with $DUN, $TUN, $EXP, $CYCLE, $SING,
$TSD, $AVE, $GB, $VSO, $YAK, $PNG, $MKC, $SWIFT, and $JOE. The Gas
Refund campaign started on October 19th and lasts until November
2nd.
Avalanche (COIN:AVAXUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Avalanche (COIN:AVAXUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024