Swapscanner is the next-generation DEX Aggregator that guarantees the lowest price. Just like Skyscanner is the biggest comparison site/app, Swapscanner will be the biggest exchange within Klaytn network.
Swap Scanner
Today, we will take a look at the next-generation DEX Aggregator Swapscanner that supports the Klaytn Network.
Swap Scanner is a site that provides a single platform by linking multiple DEXs.
Users can receive the optimal token exchange route from the DEX Aggregator without having to check the different exchange rates.
What is DEX, and CEX?
If you are new to these terms, you may not know what these terms mean. I’ll explain below.
- DEX : Decentralized Exchange, refers to a decentralized cryptocurrency exchange that operates in a peer-to-peer (P2P) manner, unlike the server-client centralized exchange.
- CEX : Centralized Exchange, refers to exchanges such as Binance, coinbase and upbit that are widely used.
- Aggregator : It refers to a company or site that collects information on products or services of several companies and provides it on a single website.
DEX is decentralized, it is a way of transacting without the need for an intermediary.
By using Metamask or Kaikas wallet.
Why do you need to use Swapscanner?
All Klaytn-based DEXs such as Klayswap, UFOswap, Pala, Claimswap, Definix, Roundrobin, and etc are linked to secure 1 trillion won liquidity.
Tokens are split and routed through our own engine navigator to always provide a lower exchange price compared to other DEXs.
With the Klaytn Node Cluster function, multiple nodes that exceed Klaytn’s recommended specs. are operated so the function does not stop under any circumstances.
They also provide the stable swap 2.0 function to solve the unreasonable slippage problem that occurs when trading between stable coins.
Personally, I think the best advantage of the Swapscanner is its ability to find the best route and quickly exchange it at the lowest price.
What is Slippage?
It refers to the additional cost incurred by buying a little higher than the desired price and selling a little lower than the desired price due to lack of liquidity.
Swapscanner, securing $1B of liquidity
Liquidity is very important in any transaction. If the liquidity supply is not smooth, the exchange is not instantaneous and causes unwanted losses.
However, Swapscanner secured 1 trillion won of liquidity by integrating all DEXs.
With liquidity of 1 trillion won, it is judged to be at a level enough to overwhelm other aggregators.
Swapscanner, Should we try swap now?
What is Swap?
As the most basic concept of virtual asset trading, it means exchanging your tokens for other tokens. Just as different banks have different exchange rates and fees when converting Korean won to dollars at banks, each DEX has different exchange rates and fees.
Unlike other DEXs, Swapscanner provides the lowest price including a gas fee.
Therefore, even if the swap efficiency of other DEXs on a specific route looks good on the surface.
In reality, Swapscanner will always be more efficient when gas costs are included.
For example, when swapping Ethereum to Klaytn, it shows how the exchange is made and the amount saved compared to other DEX SWAP exchanges.
With swapscanner, you can get rewards just by swapping tokens! Swap your tokens that accept all types of token exchanges.
In addition, 100% of the commission will be paid back as a reward during the launchpad period.
Not only Swapscanner is the cheapest option out there, but also has no hidden fees!
Swapscanner even has NFT?
Swapscanner provides NFT membership cards. Named ‘Swap route NFT’ It is a membership card NFT that is provided based on the largest token swap path in the Klaytn network.
These NFTs offer special benefits to their holders.
Which is to increase the SCNR token by 200% compared to the existing reward when swapping for the token swap path listed in the NFT.
I think it’s very clever to make it as if you got a special item from the game.
For example, if KLAY and KETH are listed in the NFT, the SCNR token reward you receive when you swap KLAY for KETH will be 200%.
Currently, it has been paid to the top participants in the pre-sale, and SCNR token holders are expected to support airdrop or NFT market transactions.
Swapscanner, supports staking
Swapscanner also supports staking function. High rewards can be obtained by staking SCNR tokens as SCNR<->klay LP tokens or as single SCNR tokens.
What is staking?
It refers to the act of depositing a user’s virtual assets to the blockchain network. The blockchain network rewards a certain amount of cryptocurrency to those who participate in staking. It can be regarded as the same concept as depositing money in a bank and receiving interest at a set interest rate after a certain period. Swapscanner implements staking through a proof-of-stake (PoS) algorithm.
Swapscanner supports various staking methods as above, and unlike other DEXs, it maximizes the profits of holders by using the reward amount only for SCNR holders.
These methods seem to make many users visit and use swapscanner.
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