DeFi Exchanges

Paraswap Aggregates DEXes At One Place

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The team at ParaSwap have been working on this project since April 2019. According to the founder, the MVP became available eight weeks afterwards.  The platform allows its users to exchange ERC-20 tokens straight from liquidity networks like Balancer, Oasis, 0x, Uniswap, Bancor, Kyber, among others. ParaSwap’s smart contract divides orders among multiple exchanges to enable traders to purchase tokens at an affordable rate. 

The builders of paraSwap maintain the outcome indicates that their software attains the most favourable market rates opposed to competing services. Additionally, they push the technical stack daily, combined with the structure and the tooling. 

Irrespective of the above position, the platform does not take security for granted. ParaSwap evaluates all line of code and examines their application before advancing production.  The platform employs Solidity/Truffle for its Smart Contracts, Node.js/MongoDB/Redis for the backend whilst React/Redux are for the frontend, and all of them are written in TypeScript.  Moreover, they prefer to code on a practical fashion and prepare almost the type arrangement. Therefore, their code is largely anticipated and safe. The gas fee is cheaper, and there are no transaction fees. 

ParaSwap also values its users’ feedback and do a better job of soliciting that every day. Hence, they are regularly striving to initiate communications with the users, subsequently enabling them to approve or nullify product condition on existing and upcoming features. It applies the 0x Mesh to obtain the most comprehensive set of orders open on the 0x protocol. The ParaSwapPool is run by the project’s partners, which grants users more liquidity and advantageous prices.

Earn A Commission On Every Trade: More excitingly, there is the possibility of earning a passive income with the exchange. Through providing liquidity on Bancor via this platform, you get to earn a commission on every trade. 

Currently, this service supports countless tokens on the Paraswap DEX exchange. Some of them are Ethereum, ZRX, Xinfin, WBTC, Tether USD, USDc, UBT, TUSD, SNT, RPL, TKN, SNX, iExec, REN, Request, RDN, RCN, Augur, POWR, OmiseGo, NMR, MTL, Melonport, MKR, MANA, LOC, LINK, MET, KNC, KIN, GridPlus, JRT, Gnosis, ENJ, EURS, DZAR, DAN, ELF, DAI, BAT, Binance USD, COT, Aragon, AMPL, Amon and many more. 

Non-Custodial Wallets: You do not need to surrender your funds when you are trading on the platform, since it operates with a non-custodial wallet. Therefore, users have control over their funds. It also means that there is no issue with counterparty risk, and security is very much assured. Traders have no worries about hackers stealing their funds or platform administrators absconding with their tokens.

The team recommends the use of Metamask wallet on the exchange. All you need to start trading is to connect your wallet to ParaSwap then, you are good to begin swapping and providing liquidity. 

How To Swap On ParaSwap: After connecting your wallet to the platform, the next move is to start swapping. The first step is to choose the tokens you want to deal with, and the amount involve.

Let say you want to buy DAI worth one Ether, what you have to do is to type in 1 ETH and the system will give you the corresponding equivalent in DAI. Then you can click swap for the exchange to take place. Whenever a swap is settled, the order gets executed over exchanges within a few minutes. It is so simple beginners in the space can do it without any blemish.

Where To Learn More About ParaSwap

The best place to discover more about Paraswap is their website. Besides, the project is on various social media platforms where there is the opportunity to socialise with the team and the community members.

Paraswap Logo

Here are the various platforms you can kindly join: 

If you are interested in verifying the source code, then head to their Github for all the details.

chainlink
Chainlink (LINK) $ 15.26
yearn-finance
yearn.finance (YFI) $ 25,089.00
ethlend
Aave [OLD] (LEND) $ 0.721757
uniswap
Uniswap (UNI) $ 4.18
havven
Synthetix Network Token (SNX) $ 5.43
uma
UMA (UMA) $ 8.51
compound-governance-token
Compound (COMP) $ 125.42
maker
Maker (MKR) $ 600.79
wrapped-nxm
Wrapped NXM (WNXM) $ 27.28
0x
0x (ZRX) $ 0.437623
loopring
Loopring (LRC) $ 0.197693
republic-protocol
REN (REN) $ 0.365780
kyber-network
Kyber Network (KNC) $ 1.10
numeraire
Numeraire (NMR) $ 34.03
band-protocol
Band Protocol (BAND) $ 7.28
terra-luna
Terra (LUNA) $ 0.378614
yfii-finance
DFI.money (YFII) $ 2,224.02
sushi
Sushi (SUSHI) $ 1.52
balancer
Balancer (BAL) $ 17.24
thorchain
THORChain (RUNE) $ 0.916348
reserve-rights-token
Reserve Rights Token (RSR) $ 0.022595
ampleforth
Ampleforth (AMPL) $ 1.16
nest
Nest Protocol (NEST) $ 0.042957
serum
Serum (SRM) $ 1.28
keep-network
Keep Network (KEEP) $ 0.389823
augur
Augur (REP) $ 15.73
curve-dao-token
Curve DAO Token (CRV) $ 0.741954
kava
Kava.io (KAVA) $ 1.96
bancor
Bancor Network Token (BNT) $ 1.12
just
JUST (JST) $ 0.024480
gnosis
Gnosis (GNO) $ 66.26
force-protocol
Force Protocol (FOR) $ 0.024055
cream-2
Cream (CREAM) $ 43.01
melon
Melon (MLN) $ 28.98
tellor
Tellor (TRB) $ 32.23
akropolis
Akropolis (AKRO) $ 0.009908
aurora-dao
IDEX (IDEX) $ 0.045266
nectar-token
Nectar Token (NEC) $ 0.179921
bzx-protocol
bZx Protocol (BZRX) $ 0.343702
airswap
AirSwap (AST) $ 0.104596
switcheo
Switcheo (SWTH) $ 0.032224
orion-protocol
Orion Protocol (ORN) $ 1.84
dforce-token
dForce Token (DF) $ 0.108470
meta
Meta (MTA) $ 1.61
pnetwork
pNetwork (PNT) $ 0.397179