Dexalot, the decentralized exchange (DEX) operating on an Avalanche Subnet, has unveiled two groundbreaking features aimed at revolutionizing the way cryptocurrency traders navigate the world of decentralized finance (DeFi). The introduction of SimpleSwap and SimpleView promises to simplify trading processes while providing greater portfolio visibility, setting Dexalot apart as a pioneer in the DeFi space.
Dexalot stands out in the crowded DeFi landscape as a Central Limit Order Book (CLOB) exchange. This unconventional approach incorporates more advanced features than traditional decentralized exchanges (DEXs) and offers a unique blend of simplicity and sophistication to its users. With the release of SimpleSwap and SimpleView, Dexalot is poised to make its platform even more user-friendly and efficient.
Redefining DeFi Trading for Crypto Enthusiasts
Scheduled for launch on September 19, SimpleSwap represents a significant leap forward in the DeFi trading experience. It allows users to harness the benefits of Automated Market Maker (AMM)-style swaps while enjoying the tight spreads and optimal pricing typically associated with a CLOB exchange. By combining the best of both worlds, Dexalot traders can execute token swaps quickly and effortlessly through an intuitive and uncluttered interface. SimpleSwap will complement the existing order book format seamlessly.
One of the key advantages of SimpleSwap is its interoperability with third-party aggregators, offering traders the flexibility to utilize this feature on platforms of their choice. This integration allows users to tap into the unparalleled pricing capabilities of Dexalot, including onchain pricing for assets like WETH.e and BTC.b, regardless of where they choose to trade.
In addition to SimpleSwap, Dexalot is introducing SimpleView, a feature designed to provide traders with a convenient overview of their portfolio’s status. Given that CLOB exchanges often involve trading across multiple markets, keeping track of various tokens can be a daunting task. SimpleView simplifies this process by allowing users to assess their portfolio’s value and composition at a glance.
Berk Ozdogan, Head of Strategy at Dexalot, highlighted the significance of SimpleSwap: “Simple Swap has the potential to become the perfect conduit for the most capital-efficient liquidity to get to traders. CLOB style trading is the only way to trade in TradFi because of its capital efficiency and this wasn’t possible in Web3 until Dexalot. With Simple Swap, we now have the perfect atomic transaction capability without compromising on the quality of liquidity like AMMs and AMM variants do.”
Matthew Schmenk, Business Development at Ava Labs, praised Dexalot’s innovative approach: “Dexalot’s central limit order book architecture makes for some of the best swap pricing in all of blockchain and with SimpleSwap, Dexalot should win a lot of swap routes and volumes.”
Dexalot has made significant strides since its launch on its own Avalanche Subnet, processing over 17 million transactions and achieving daily trading volumes of up to $5 million. The platform’s team comprises financial industry veterans with a wealth of experience from Wall Street, which has been instrumental in shaping Dexalot into the most advanced decentralized exchange of its kind. Additionally, Dexalot recently secured up to $3 million in incentives for users through Avalanche’s Multiverse Fund.
Dexalot represents a paradigm shift in the DeFi space, offering the look and feel of a traditional centralized exchange within a decentralized, on-chain environment. Powered by Avalanche, the CLOB DEX ensures users can trade cryptocurrencies securely and efficiently, free from slippage or custody risk. With the introduction of SimpleSwap and SimpleView, Dexalot continues to push the boundaries of DeFi, making it more accessible and user-friendly for traders seeking a seamless and sophisticated trading experience.
