Three minutes to learn about plasmaswap: cross chain DEX of plasma.finance ecology

Time:2021-4-28

By Alice Qu

Even the new high bitcoin has brought considerable heat to the encryption world, while the rise of defi makes market participants more truly realize the application value of the encryption world. However, for a long time, the pain point of too high participation threshold of defi products has not been effectively solved. With the continuous combination and superposition of defi Lego, the difficulty for novice users to understand and participate in new projects of defi continues to increase, which is the status quo that plasma.finance intends to change.

Plasmaswap is the latest cross chain DEX launched by plasma.finance. By providing an intuitive and easy-to-use front-end interface, it can reduce the learning threshold of users as much as possible, so that more people can more easily enter the encryption world and participate in defi, so as to fully obtain unlimited opportunities in defi. Plasmaswap provides a token exchange channel for the plasma. Finance ecosystem, and is also a “primary portal” for user participation.

What is plasma swap

Plasmaswap is a decentralized exchange designed to fix some defects of existing AMMS (automated market makers). It provides users with a Web3 quality user experience and forms part of the whole plasmapay product ecosystem. Plasamapay platform is easy to use, low cost and high mobility.

Plasma swap will be integrated into the plasma.finance platform, and its professional toolkit will make the transaction more intuitive and enhance the experience of traders. DEX will also provide users with industry-leading defi analysis, including transaction views, transaction data and liquidity depth, through binance and Kraken control centers.

Arbitrage traders can use the flash rebalancer tool of plasma swap to rebalance the liquidity of a trading pair to multiple trading pairs in a single transaction, reducing time and gas fees. The infrastructure of plasma swap will provide effective fund management for traders and maximize their profitability.

When users start a new liquidity pool on the plasmaswap platform, plasmaswap can also help users access other decentralized exchanges, fund pools and networks. In addition, users will be able to access all the real-time analysis data provided by the platform, which comes from many other blockchain networks, so that plasmaswap can interact with these chains, so as to realize the “all to all” defi vision.

Three minutes to learn about plasmaswap: cross chain DEX of plasma.finance ecology

Advantages of plasmaswap

Plasmaswap is a DEX based on Ethereum and its own high-speed plasma DLT, which can realize the cross chain transaction function, and promote defi to a new level. Its advanced AMM will improve the experience of defi traders, making it as easy to use as products in traditional financial markets. The following are the first functions of plasmaswap in similar DEX products:

  • Stop loss and limit orders. This is a function that almost every CEX has, but DEX generally lacks. Now users can set up stop loss and price limit orders on plasma swap’s defi platform;
  • Detailed real-time data analysis. Generally, DEX products provide users with little information, while plasmaswap provides users with real-time data about the actual order depth, transfer liquidity and other information on the liquidity pool by directly inserting different defi protocols, so as to help users obtain real-time information of efficient capital management and yield analysis;
  • Flash Rebalancer。 It’s something that users of defi really like. Today, it takes at least four steps to convert an existing currency pair into a new one by switching funds between pools of different providers. Flash rebalancer can be realized by one transaction, which can save 4 times of cost and time;
  • Users who transfer funds in the early stage will get a large amount of apy pledge reward
  • There is no need for eth to pay the gas fee. Generally, it will be troublesome if enough eth is not reserved to pay gas fees, especially when gas fees soar. Plasmaswap allows users to use other mainstream tokens such as usdt or ppay to pay transaction gas fees;
  • Hyperloop will be released in the second quarter of this year. Plasmaswap will soon introduce hyperloop into plasma, providing users with almost zero cost real-time transactions. With the help of hyperloop, users can transfer assets between uniswap on Ethereum and plasma DEX on plasma DLT at low cost and quickly.

Three minutes to learn about plasmaswap: cross chain DEX of plasma.finance ecology

Plasma.finance: plasma pay’s defi control center

In order to fill the gap between defi and the encryption world and solve the problem of high threshold, plasma.finance launched plasma pay in 2017. Plasmapay is a global digital payment platform that seamlessly connects with decentralized finance. Through mobile and desktop applications, it provides an industry-leading user experience for more than 100000 cryptocurrency users in more than 160 countries, including cryptocurrency / legal currency wallet and legal currency deposit service. Headquartered in Tallinn, the capital of Estonia, plasmapay uses blockchain technology to enable users to safely store cryptocurrency and fiat money, purchase and exchange digital assets, send and receive cross-border payments, and establish a zero transaction fee payment network.

Plasma.finance is plasmapay’s defi control center, which aggregates the most popular defi protocols from different blockchains and allows users to manage their portfolios in a simple interface.

How to use plasmaswap

Plasmaswap DEX is actually a web application, so just visit plasma.finance and click “connect wallet” to connect any Web3.0 encrypted wallet that users already have.

After the connection is established, the user can browse the control center and perform the following operations as required:

  • Purchase of cryptocurrency (direct use of card / bank accounts in supported countries);
  • From the markets tab, explore the available markets and search for any token by market value and price;
  • Exchange cryptocurrency directly from any connected WiFi protocol or network, or search through token and network;
  • Participate in the liquidity pool and filter through token, network and real-time analysis (including current apy, liquidity and volatile loss);
  • Mortgage the original token of ppay and plasma. Finance, which will provide high yield and incentive measures;
  • View and manage your portfolio so you can shift liquidity and increase / decrease investment from your portfolio based on your needs.

Development roadmap

As mentioned earlier, plasmaswap will soon introduce hyperloop into plasma, allowing users to transfer assets quickly and cheaply between uniswap on Ethereum and plasma DEX on plasmadlt. After the transaction is completed, users can also transfer the cryptocurrency back to the Ethereum blockchain without paying the high gas fee of Ethereum network.

At present, the plasma blockchain supports 42 stable coins and their original token ppay, and the development of the second stage of plasma swap will provide cross chain support for various projects such as binance smart chain (BSC) and Polkadot through hyperloop.