Bitcoin emerged as an electronic cash with the idea of peer-to-peer
transactions. Since it involved no intermediaries and third parties, it became
a sound basis for Decentralized Finance (DeFi), where people can trade, lend,
borrow, and enjoy other perks of the classic banking system without government
involvement.
One of the core components of the DeFi is the Decentralized
Exchanges (DEXs) which are run by the smart contracts that allow people to swap
tokens and trade without a centralized authority being in control. DEXs offer
advantages over the CEXs like lower fees, interoperability, liquidity, asset
ownership, resistance to censorship and hacking, and a huge number of tokens.
Why do we need a decentralized exchange?
FTX was a popular cryptocurrency exchange that hurt the trust of millions of crypto users as the people behind this centralized exchange ran away with the depositors’ crypto. In a centralized exchange, you have to use an exchange wallet that doesn’t provide you the private keys.
Not your keys, not your crypto.
You have to trust these exchanges with your crypto, like a
bank – that eventually kills the idea of decentralization. A Decentralized
Exchange can be the best alternative to all cons of a centralized crypto
exchange. These are some of the key features of a DEX:
·
Ownership:
While trading on a decentralized finance, you are in control of your
assets. Unlike centralized crypto exchanges, you can just connect your web3
wallets and swap any token you want. The assets always remain in your
ownership.
·
Higher
liquidity: DEXs have higher liquidity as compared to CEXs which makes
it harder for the whale to manipulate the price. This ensures safe trading and fewer
whale attacks to fake price pumps or dumps to trading pools or tokens.
·
More
variety: Binance has only 1500 tokens listed on different pairs, and Coinbase
has nearly 500 tokens listed. However, Decentralized crypto exchanges offer
thousands of tokens based on different blockchain networks.
·
KYC: Trading
on CEXs is like opening a bank account as you have to submit your identity and
go through a long time-consuming process of KYC before you can trade. However,
on decentralized exchanges like Chainverge, you can trade anonymously with your
crypto wallet.
·
Resistance
to censorship and hacking: Centralized exchanges hold your assets,
transaction details, and identity information that you submitted for KYC. All
this information hinders your anonymity in trading crypto and can be easily
censored. Moreover, if an exchange is hacked, your data might end up in the
wrong hands. Since decentralized exchanges don’t store your assets, trading
info, or identity details, your funds
always remain SAFU.
What is Chainverge?
Chainverge is
a crypto project in the blockchain and cryptocurrency domains that seamlessly
integrates all the tools and services a crypto enthusiast might require. From
Decentralized Exchange, Blockchain Gaming, NFTs, DAO, and Crypto tokens to
Crypto Cards, the Chainverge ecosystem offers everything.
As a DEX on Binance Smart Chain, Chainverge blends advanced
tools and services for DEX traders and a rewarding system with its staking,
referral, and Play to Earn blockchain game. As a crypto ecosystem, Chainverge
has an inclusive and rewarding environment with its DAO and in-house token
CVE.
Chainverge DEX Features:
Decentralized Exchange DEXs are preferred by many crypto
traders for the perks listed above. Those who prefer security, ownership,
censorship, and want to trade new tokens choose DEXs. Since many DEXs are operating on a different blockchain, how can we choose which one is the best
Decentralized Exchange?
An exchange that
charges lower fees has high scalability, supports a variety of tokens, and
offers interoperability should be an ideal crypto exchange. Chainverge DEX
stands out for meeting these criteria as well as offering additional features
that contribute to its crypto space.
Here are some of the key features of Chainverge
Decentralized Exchange:
Lower Fees and Faster Transactions:
Chainverge is a highly scalable crypto DEX that can support a
huge number of traders. The DEX offers minimal trading fees, as low as 0.3% of
the traded amount. The collected fees go to the Coinsafe, a smart contract-based
vault that is used to benefit the community.
Best Crypto Rates:
Chainverge uses AI-based comprehensive price calculations to
offer the best prices to traders. Chainverge DEX compares the token price on
different platforms and offers optimal swap values. Using routing based on the
token network, the exchange lowers the gas fees and the transaction time while
offering a direct or multi-step approach.
Bridging Blockchains:
It’s hard to swap tokens between different networks without
having an efficient bridge. Chainverge uses an extremely simple user interface
for traders to swap their tokens to and from any network. The bridge aggregator
supports a wide range of networks including Ethereum, Binance, Polygon,
Avalanche, and Solana.
Rich Ecosystem:
Chainverge has a rich ecosystem to offer its community the
tools and services and incentivize them in every possible way. Chainverge’s
flagship game, ‘Primus’, is a multiplayer survival adventure game where players
have to fight hordes of zombies.
NFT tokens of Chainverge can be used as in-game assets to
empower the game characters and to boost the Chainverge token CVE staking
rewards. Chainverge is a DAO-based project that values the voice of its
community. By holding tokens, users can create proposals, participate in
voting, and influence the future of the platform.
Overall, Chainverge offers a beginner-friendly user
interface and advanced tools for pro traders. It is backed by a holistic
ecosystem with an inclusive and community-oriented approach.