Decentralized exchanges (DEXs) are an important part of today’s DeFi world. They’re used to host trading options like liquidity mining, pools, and staking. Most importantly, they give users complete control over their assets, as opposed to centralized exchanges (CEXs).
However, some of the main drawbacks of today’s popular DEXs are unpredictable slippage and low liquidity. Slippage happens because they only offer market orders, which trade at current market prices. Market prices change between the order request and fulfillment, so they aren’t always reliable.
Mate is a decentralized exchange whose main goal is to provide traders with the best possible way to combat slippage and high liquidity for all BSC assets. Mate also offers yield farming and staking, to attract investors and grow their platform. Traders experience fewer losses when placing limit orders on Mate instead of market orders on PancakeSwap.
What’s more, orders are partially fulfilled or not at all because such DEXs use order books. This means two things. One, your order won’t be fulfilled until the price reaches your set value. Two, your order has to be matched with an opposite order of the same or greater value to be fulfilled.
Many DEXs have tried to solve these problems. Mate believes they have.
How Does it Work?
Mate lets users place limit orders with no slippage and plenty of liquidity. This is possible through a special limit order process, where transactions are executed at the opportune moment.
Mate’s Limit Order Process
Limit orders are requests to exchange one token for another. Limit orders are different from normal trades because they only happen when the order price matches the set price. Regular swaps take place instantly at the current market price.
As with other limit orders, the user first chooses a token, sets a price, and submits it to a smart contract. Mate’s executor nodes watch market conditions and price. As soon as conditions are met, Mate fulfills the order using various AMMs, which are used as a source of liquidity.
What makes Mate’s limit orders special is their ability to fulfill the transaction at just the right moment. The executor nodes complete the order once the final price matches the required price, avoiding slippage and high fees, which sets Mate apart from giants like 1inch Network.
Mate Roadmap
Mate presents a solid roadmap that they have accurately executed since the launch of the platform. Reaching significant milestones as having an audit, community governance, and implementing new features suggested by its community. With a few weeks left in 2021, Mate is planning on introducing DEX aggregation and establishing a partnership with a new L1.