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Bittime - OKX, one of the leading crypto exchanges, has announced its integration with Uniswap Labs application programming interface (API). This collaboration introduces a revolutionary feature called “Snap”, which aims to facilitate gas fee on OKX's decentralized exchange (DEX).
According to Jason Lau, Chief Innovation Officer at OKX, this feature simplifies the decentralized token swapping process, leveraging the UniswapX protocol and its liquidity pool to offer a seamless trading experience without the burden of gas fees.
This integration marks an important step in decentralized finance (DeFi), by offering OKX DEX users access to a broader liquidity network via Uniswap. Lau explained the mechanism behind the elimination of swap fees, linking it to a new model where liquidity providers cover transaction costs.
This setup allows transactions to be signed off-chain and settled on-chain, eliminating gas fees for end users. This initiative is expected to significantly reduce trading costs and increase overall token exchange efficiency.
A Big Leap in DeFi Accessibility and Efficiency
The collaboration between OKX and Uniswap Labs is not just about cost savings. It also aims to address common challenges in the DeFi space, such as price discrepancies, Maximum Extract Value (MEV) bot attacks, and failed transactions.
By guaranteeing the number of tokens quoted for each transaction, this partnership promises to increase trading accuracy and reliability. Lau highlighted the importance of this feature, pointing out its potential to attract DeFi users looking for more stable and predictable trading results.
Additionally, this integration is part of OKX's broader strategy to expand its users' access to all use cases in the chain. The exchange is actively working to add new functionality and improve its offerings, focusing on user feedback to guide its development efforts.
This approach reflects OKX's commitment to providing a comprehensive and user-friendly trading platform that meets the needs of the growing crypto community.
Also Read How to Buy Crypto:
OKX Launches Turkish Platform for Local Trading
Beyond trading improvements, OKX announced further improvements via the Multi-Injected Provider Discovery upgrade on Ethereum, based on Ethereum Improvement Proposal (EIP)-6963. This upgrade allows OKX wallet users to connect their wallets with the Uniswap interface seamlessly, facilitating a variety of activities from crypto swaps to NFT trading and participation in liquidity pools.
The move is designed to simplify the user experience across a wide range of blockchain activities, strengthening OKX's position as a versatile and accessible platform for crypto enthusiasts.
In addition to these technical advances, OKX is also focused on market expansion. The launch of OKX TR, a platform designed specifically for Turkish users, underscores the exchange's commitment to global inclusivity and local service offerings.
OKX TR aims to provide Turkish traders with a transparent, compliant and user-friendly platform, empowering them to explore the crypto markets with confidence. This initiative reflects OKX's strategic vision to adapt its services to regional demands and preferences, further strengthening its role as a leader in the global DeFi ecosystem.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Understanding Uniswap (UNI), a Revolutionary DeFi Platform
UNI: Governance Token from Uniswap, the Most Popular DEX
Get to know Jupiter (JUP), Solana's DEX Rival Uniswap
Uniswap Prepares V4 Upgrade, UNI Price Increases 15% in a Week
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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