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ParaSwap is a DeFi middleware and aggregator that combines the liquidity of decentralized exchanges and lending protocols into a single, secure interface and APIs. It offers the optimal route to exchange any asset for another. By consolidating all these pools into one source, users can access the best rates through an interface or incorporate the highest liquidity and rates into any project using APIs. Whether it's spot trading, limit orders, or NFT trading, ParaSwap serves as the essential gateway to superior liquidity.
Issue Time
2021/11/15
Initial Price
US $ 0.01801011
*流通/最大
744.97M/2.00B
*流通率
0.00%
ROI --%
*信息
What is Paraswap and how does it work?
ParaSwap.io aims to become the fastest DEX Aggregator. It is a trading platform and decentralized exchange (DEX) aggregator that caters to traders across country borders. It allows for exchanging Ethereum transaction tokens and facilitates decentralized exchanges while offering other decentralized finance (DeFi) services within its exchange portal. Paraswap also supports Polygon, Binance Smart Chain, and Avalanche. In essence, Paraswap acts as the intermediary between users and various DeFi services, bringing liquidity from more than 20 decentralized exchanges into a single portal for users' convenience.
ParaSwap is a user-friendly DeFi-based exchange portal. Each transaction on Paraswap shows the user a helpful summary, including the estimated cost, price impact, and minimum received. Routing details are also provided to help users understand the path their tokens have taken. Paraswap exchanges do not incur any additional fees to the user, and users only need to pay for gas fees. The optimal route and effective price are returned to the end-user through a series of routing through its internal mechanisms. The swap is performed using a smart contract to deposit the fee into a fee wallet. This mechanism eliminates the need for users to compare prices and instead allows them to focus on optimizing their trading strategy.
Using ParaSwap begins with an Ethereum wallet. Users can set up an account using the Paraswap app on a browser or by downloading the Paraswap app. They can then use a hot wallet, like MetaMask, or a cold wallet, like the Ledger Nano. Users need to create an Ethereum account on Ledger Live and select Paraswap as the provider. From there, users can select the Ethereum account and tokens they want to swap and verify the swap information on their Ledger hardware wallet.
Paraswap is unique in that it allows large transfers of Ethereum to take place and allows for transfers involving interactions with a number of DeFi protocols. It also allows users to aggregate their DeFi exchanges and do the swaps within a single transaction, optimizing gas fees. While Ethereum is the main token exchanged on Paraswap, the exchange also supports the payment of different types of currencies.
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