Leading decentralized gateway application offering competitive pricing and liquidity in cryptocurrency exchanges with the launch of version 2.0.
The success of the Ethereum network was a major step forward for DeFi and a step backwards for scalability.
Currently, with the hype around NFTs and the Metaverse, the widespread use of decentralized applications (DApps) is growing, resulting in a significant number of transactions and thus an increase in processing time. Ethereum’s struggle with scalability and high fees has led to a huge surge in DApps, users and capital in alternative chains. Currently, alternative chains account for more than 45.2% of the total value of on-chain, according to on-chain analytics.
A number of solutions are paving the way forward, ranging from new networks to Ethereum bridges. While bridges like AllBridge, AnySwap, and Ronin Bridge are often touted as a solution for moving assets to alternative chains, they currently come with significant complexities. Users have to deal with the inefficient process of token packing and unpacking and searching for liquidity. This has become a problem for both experienced and novice users.
Exchange to and from different chains
Atlas DEX reduces the complexity of cross-chain swaps. A decentralized exchange allows for fast and seamless exchanges between different chains by seeking liquidity across multiple DEX, DEX aggregators and Automated Market Makers (AMMs). Users can exchange and receive native tokens in one transaction without unwrapping them afterwards. Atlas uses an algorithm to find the best rates and split users’ trades along the most efficient routes while minimizing gas fees and slippage. The result is an ideal choice for all investors, whether retail or institutional users.
However, the platform still has work to do, as highlighted by Ahmed Salam, founder of Atlas DEX, who shares: “These innovations don’t end with our DEX aggregator for different chains. The Atlas DEX team has begun developing innovative new products to bring value to decentralized finance and the Atlas DEX community.” These efforts have been evident in recent updates to the team’s roadmap.
step to interworking
Atlas DEX recently launched version 2.0 of its cross-chain aggregator DEX, which allows users to seamlessly trade cryptocurrencies across multiple chains, similar to a centralized exchange (CEX).
Atlas DEX now allows users to perform cross-chain exchanges between networks such as Ethereum (ETH), Solana (SOL), Binance Smart Chain (BSC), Polygon (MATIC), Avalanche (AVAX), and Fantom (FTM). ) on their decentralized platform.
In practice, Atlas DEX searches for price and liquidity information on the DEX across multiple linked chains. It determines the best way to navigate between the given pairs and then executes the trade for the user when they show their confirmation.
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Cross-chain swaps are currently available via a write and unlock mechanism in collaboration with Wormhole along with DEX aggregators such as 1inch, 0x and Jupiter. “We will continue to form strong partnerships with DeFi projects that seek to build a safer, more transparent and inclusive financial system,” says Tina Key, Head of Development at Atlas DEX.
Collectively, these efforts are expected to take Atlas DEX to the epicenter of $15.8 trillion in on-chain and cross-chain cryptocurrency transactions in 2021, according to cryptocurrency research sites.
A constantly growing ecosystem
Atlas DEX successfully completed its Initial Coin Offering (ICO) in January 2022. After this ICO, the Atlas DEX token, ATS, was listed on various exchanges such as Huobi, Gate.io and Raydium. Their private funding round was led by Jump Capital, a Tier 1 venture capital firm, with participation from many other key partners.
With a solid foundation for the future developments of the project, the Atlas DEX roadmap is promising with releases like a universal DeFi dashboard, Launchpad cross-chain and new chain integrations like Terra (LUNA). The ecosystem and its future developments will be based on the ATS token. The team believes these innovations will form the basis for expanding their ecosystem and token use case.
