The Decentralised Exchange (DEX) is the most secure way of trading or investing in cryptocurrencies. Being completely decentralised, you have to connect your wallet to the DEX before you are able to purchase any coins. However, as comes with the territory in blockchain, with great decentralisation comes great limitations.
Uniswap’s (UNI) rise to ascendancy
Uniswap has become the largest player in the DEX scene with the largest trading volume of any decentralised exchange by over a factor of 3. However, being built on the Ethereum blockchain and having a DEX native to ERC-20 tokens (coins built within the Ethereum ecosystem) Uniswap heralds the same scalability issues that its parent network does.
As with any DEX, Uniswap’s gas fees are an impression of Ethereum’s. Put simply, Uniswap uses Ethereum gas fees for all purchases made on the exchange.
While Ethereum is no doubt the king of DeFi (Decentralised Finance), these transaction costs ripple throughout its entire system having a knock-on effect on the tokens built on its ecosystem, i.e. UNI.
Despite having the highest trading volume of any DEX, these inherent issues could pose a problem for further adoption and ultimately the longevity of the exchange itself. It is, however, very true that UNI will most likely share in the success of ETH. The advent of ETH 2.0 is just around the corner and that should provide solutions to the high and unpredictable Ethereum gas fees. It should just be kept in mind that the exchange is limited by its lack of interoperability with other blockchains and ecosystems.
Curve Finance, what it is and what it proposes.
CRV is the native coin on the Curve DEX, acting as the governance and utility token. It is as a DeFi stable coin marketplace giving the lowest Ethereum gas fees and the lowest slippage (difference between assumed transaction cost and actual cost) despite being built on the ETH network.
Curve Finance has a total value locked (TVL) of $17 billion, yet a market cap of less than $1 billion. Currently trading at just above $2 dollars with a local high of $6.50, CRV offers an exceptional long-term investment opportunity with possibly life-changing returns. A 10x from here is more than likely in the next bull cycle and CRV should certainly be on your shortlist radar.
The biggest problem facing CRV and UNI for large-scale DeFi adoption is the lack of flexibility they offer traders. Uniswap fixates on ETH tokens and CRV is primarily for the exchange of stable coins. Both offer very sound functions but are limited by their inflexibility.
Quitriam Finance, reinvigorating the DEX
Quitriam Finance could very well disrupt the current DEX market by offering a technology that is rather niche to mainstreamed DEXs.
Quite contrarily to Uniswap’s ETH based tokens, QTM’s DEX offers the best gas fees with the lowest slippage from a range of partnered blockchains. If the QTM system can find the best price for a token on the Avalanche network, it will use that blockchain to execute the transaction giving you their corresponding gas fees.
This multichain technology is something that has been omitted from DEX protocols so far and, for this reason, it is why QTM comes with a huge amount of excitement.
With its Mainnet launching before Q3 this year, QTM really is the best DEX token to keep on your radar as we start to bottom out in this bear cycle. Opportunities to catch revolutionary projects at such low prices are extremely rare in crypto. Quitriam Finance could well be one such opportunity.
For more information:
Presale: https://presale.quitriam.io/register
Website: https://quitriam.io/
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