Will DEX Aggregators get updated on BSC? Look forward to the new version of Newdex.
Let’s talk about DEX Aggregator on Binance Smart Chain, Do you expect a brand new look for Newdex as they move to other chains? Do you expect to see exactly the same feature of Newdex(EOS Chain) on Binance Smart Chain? It could be what you expect or not but
Let’s talk about the new version of Newdex you should look forward to.
New Version of Newdex
Starting from where Defi begun hugely, which is the Ethereum Blockchain, it is still quite obvious that Ethereum network still retains 80% of its dominance when considering the net value locked up in DeFi applications, seeing that there are so many Defi applications, most of these applications are on Ethereum but the continuous growth of Defi and NFTs(Non-fungible token) brought about high intense congestion which led to the drive-by some Binance Smart Chain Defi applications have taken 40% market share, Pancakeswap is the main Bsc application driving volume largely.
Ethereum as the leading alt may be set to outperform BTC as it gets more intense praise from so many institutional investors, seeing the growth and all hypes around Ethereum in the past months, traders may have FOMOed and shifted their Bitcoin stands towards Ethereum. Out of all hypes around Ethereum are NFTs which is making Ethereum become a major store of value, but still at this whole Ethereum rise which was becoming too expensive for investors and new incoming crypto users, comes Binance Smart Chain which has survived as an alternative to Ethereum and got so many DeFi projects expand to Binance Smart Chain, serving as an easy solution for DApps looking for cheap alternatives.
Talking about Dexs, there are so many DEXs on the Binance Smart Chain with different transaction volumes, I have used a few of them, and the interface is very good even though they all have their lapses, but for me, they are all doing well.
See below the volume of few:
- CryptoBlades — 279.44K — Volume — $13.03M
- Pancakeswap — 272.44K — Volume — $338.38M
- Apeswap — 7.88K — Volume — $27.85M
- BakerySwap — 2.42K — $3.03M
Looking at the dex ranking on Bsc, the top DEXs are AMM(Automated Market Maker), It won’t be bad seeing Newdex join these exchanges, Goodnews for all, Newdex begin a layout for Exchange Aggregator on Binance Smart Chain.
What is an Exchange Aggregator?
Over the years, when it’s time to trade, crypto users have had to check on different exchanges, compare prices and pick the best. In the sight of Exchange Aggregator, we got a major solution to the problem of searching for the best prices on different platforms, trading became easier for crypto users as we now have Exchange Aggregator platforms that partner with multiple exchanges and offer to its users an integrated simplified experience. This makes it possible for users to receive all useful information on a single platform.
As we all know that Newdex has been an Exchange Aggregator on EOS for so long, now is the time to have all product and platform experience on Newdex available on Binance Smart Chain for the whole Crypto space ecosystem to enjoy. This means Newdex has planned to replicate the product experience since 2018 on BSC Chain.
Newdex will work according to Whitepaper 2.0 which has these 2 additional features;
- Aggregate the depth of popular AMM Exchanges(For best trading prices)
- Aggregate token Info( For making the best and convenient decisions).
This is a big thing to look forward to.
to be informed.
Thanks for Reading
I am Bee 🐝