Polkaswap upgrades to a hybrid exchange by launching a fully decentralized on-chain order book that will function alongside the established AMM swap.
This sets a new standard in DeFi (decentralized finance) by offering a comprehensive view of market liquidity, real-time updates and advanced trading strategies.
The decentralized on-chain order book is at the heart of this transformation a cutting-edge system that records every order and transaction directly on the blockchain.
This system matches trading orders directly, offering an experience similar to traditional financial markets while operating entirely on-chain.
The on-chain order book facilitates a familiar and direct trading environment for users accustomed to centralized exchanges.
This is a significant user experience upgrade, as many people have turned to DEXs within the last year.
Major events such as the collapse of FTX a centralized finance giant have significantly impacted the cryptocurrency landscape, as many people could not withdraw their assets from centralized exchanges.
As a result, there has been a notable surge in DeFi exchange trading volumes and a rising demand for self-custodial solutions, marking a pivotal shift towards DeFi for many crypto users.
For most people, trading on a DEX was perceived as a different experience than a CEX. This is why improving DeFi services and facilitating user interaction is important.
Therefore, Polkaswap’s Order Book launch aims to elevate the user experience in the decentralized sphere, offering benefits such as anonymity, decentralization and unrestricted global access unlike anything a centralized exchange could ever offer.
Polkaswap stands out for its robust security through decentralized control of private keys, ensuring users manage their crypto assets.
This emphasizes the importance of self-custody, enabling direct control of digital assets and protection from the vulnerabilities of centralized exchanges.
Polkaswap drives transparency and efficiency in trading by offering smart liquidity routing for the best prices across multiple liquidity pools.
By prioritizing user privacy and operating without KYC (know your customer), restrictions for a broader user base are removed.
This way, Polkaswap opens opportunities for people who value freedom or have limited access to traditional trading avenues.
Additionally, Polkaswap leans on SORA’s decentralized on-chain governance…
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