After trying these ten DEX projects, I found new opportunities (with tutorials)
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Skyrocketing KNC (Source: QKL123)
Searching for Defi on search websites, many media in the currency circle began to use provocative headlines such as "this round of bull market will be started by Defi", but overall, the current liquidity of Defi is not good enough, and we must pay attention to preventing risks.
Without further ado, let’s start to introduce the remaining Defi projects and operating procedures according to the QKL123 Defi ranking list. If you are interested in the previous episode, you can click to view itsecondary title
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Website link:https://kyber.network/
Kyber is currently ranked fourth on the QKL123DEX ranking list, but it is actually an old-fashioned Defi project. It was a very popular Defi project before the crypto bubble boom in 2017. It is a Defi project based on the Ethereum public chain platform. KNC (Kyber Network Crystal) is the token of the platform. Crypto Briefing, an encrypted asset research organization, called Kyber Network the most noteworthy project this month in its report
Open the website, the first thing you see is the introduction of Kyber network, click "swap token" in the upper right corner
Enter the page, you will find that there are three tags to choose from,"swap"(transaction), "transfer" (transfer),"limit order"(limit order)
Using Kyber to exchange is completely matched through smart contracts. Token exchangers in the kyber network include individual users or other entities. They send requests to smart contracts through portals such as websites, dApps, or wallets, requesting instant exchange of tokens in their hands. is the target token. In addition to individuals, decentralized exchanges or any smart contract can also initiate exchange requests. It is a token transaction protocol without permission.
1. Like other DEXs, you need to bind your wallet first. Currently, Kyber supports wallets such as MetaMask, ledger, trezor, torus, and promo code. Take Metamask as an example.
After the association is successful, you can trade freely.
After switching to "transfer", tokens can be transferred to any address.
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When I first saw Curve, I couldn’t understand it. Who would trade stablecoins for stablecoins? Are you full? Also do a Defi project specifically for exchanging stablecoins? The Ethereum mainnet was just launched in January. At the time of writing this article, the current average daily transaction volume is more than 10 million, ranking fifth on the QKL123 ranking list. Is there such a large demand for stable currency exchange? Very shocked!
Next, let's explore this seemingly tasteless but not tasteless project-curve with me.
As soon as I opened this website, hey, there is something inside. The whole interface gives me the feeling that I have traveled back to the last century. I don’t know if it is specially designed like this. It is in stark contrast to other websites that are so tall and how they do it. The two words— -personality.
1. Still bind the wallet
2. Bind the wallet, select the stable currency to be exchanged, and successfully exchange
In the lower right corner, you can see the current conversion ratio of different stablecoin trading pairs.
With the development of DeFi, the importance of stablecoins is becoming more and more prominent. There are more compliant DAI and USDC, and USDT deposits and withdrawals are more convenient. Studies have shown that the market value of stablecoins has exceeded 11.2 billion US dollars, growing within five months Curve’s ability to rank in the top five in just a few months also proves this.
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Just launched in early April, the average daily transaction volume is about 4 million RMB, and it is stable in the top ten. Many people say that Balancer is a more advanced Uniswap, because compared with Uniswap, Balancer has stronger functions and more settings. Liquidity providers can customize the rate, and each fund pool can be allocated in proportion, and each fund pool can support up to eight tokens.
Uniswap, which is more popular, currently has a fixed transaction fee rate of 0.3%, and the ratio of tokens in the fund pool must be 1:1, and each fund pool can only support two tokens.
1. Open the website
2. Bind wallet to trade
3. Click "add liquidity" to see the fund pools with different ratios. For example, the pool in the screenshot below is the pool with RPL:WETH=9:1
This pool is a matching fund pool of MKR:WETH=3:1
Clicking "add token" should be able to increase the currency in the pool, but the web page shows that this function is still being tested, so we can only wait, and we are still full of expectations for the future of Balancer.
Many friends around me have invested a lot of energy in researching Defi recently, and they really responded to the phrase "Pull is the best marketing", and many people came up and asked what currency has risen so rapidly recently, no Knowing whether you can invest again, I can only say that Defi is still in a very early stage, investment needs to be cautious, stud needs to be cautious.
