Introducing DegenSwap: Degen Protocol’s New Multichain Aggregator

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Introducing DegenSwap: Degen Protocol’s New Multichain Aggregator

Mar 24 2022

In brief

  • DegenSwap is a young decentralized platform that offers a number of benefits for its users.
  • The platform functions as a blockchain-agnostic, multichain aggregator that sources liquidity from various blockchains.
  • It is simple enough for newcomers to use, it always has the best prices, and its ties allow it to be an instant trading solution.

Degen Protocol has spent a lot of time developing its service in order to become a leader in its field within the crypto sector. The protocol even decided to create its own decentralized aggregator, naming it DegenSwap, and making it quite competitive, which is an important characteristic in the growing DeFi sector.

What is DegenSwap?

DegenSwap is a decentralized aggregator that claims to offer the lowest price swap in the sector. The platform actually operates as a blockchain-agnostic multichain aggregator, capable of sourcing liquidity from a variety of different blockchains and other decentralized exchanges throughout the DeFi ecosystem, no matter what chain they run on.

Thanks to the platform having a backdoor access to all aggregators, it can offer a high-quality instant trading solution. Not only that, but it can also offer the best prices.

DegenSwap was also developed with newcomers to the DeFi sector in mind. A lot of DEXes do not put a lot of effort into their UI, expecting that they will be servicing crypto veterans who know their way around the exchange, even if it is not the most intuitive. However, when newcomers do arrive, they fail to find their way around and get intimidated by such platforms.

DegenSwap simplified its system as much as it could, reducing it to a one-click multichain and trading system. With such a system, even first-time traders have no problem learning the ropes in seconds.

Another advantage of the platform is that it offers a very large number of tokens available for trade, and it has a new model for master coverage LPs.

Why join DegenSwap?

Crypto users are turning to DegenSwap rapidly, and not without a good reason. The project has an advanced buyback technology that ensures the re-acquisition of tokens from circulation, which reduces the supply and increases the token’s value. It also offers licensees to get their own free license, and all they need to do is fill out a short form.

Next, it features customizable smart contracts, so everyone can appropriate them for their own needs. Users can also add their own custom fees and make them as high or as low as they want them to be.

Among other advantages, the project is offering zero code Reskin, free reimbursement model, gas reimbursement, and more, all of which combined make DegenSwap a very desirable and popular platform.

About Degen Protocol

Degen Protocol, which developed Degenswap, has emerged as a major game-changer for the DeFi sector. It introduced decentralized margin trading to decentralized finance, which was missing before this project found a way to bring its decentralized version. This allowed many who were going to centralized platforms for margin trading to turn to DeFi without losing the features that they appreciated so much.

The project is also well-known for a very tidy ecosystem, with its community split into four groups — Traders, Lenders, Stakers, and Pool Creators. The first group — Traders — get to benefit from the project by borrowing the tokens from within Degen’s Pools and use them to their advantage in trading.

The other three groups consist of those who create and manage the pools, as well as those who lend the tokens, and they earn by being paid a fee by the traders who borrow their tokens. It is an interesting system, and with the help of DegenSwap, traders now have a native platform to turn to for their decentralized trading, and stay in the same ecosystem.