Cryptocurrency News

OKX Integrates Uniswap for Trading Without Gas Fees

2 min read
Okx Enables Gas-Free Trading With Uniswap Integration


The crypto trading platform OKX has integrated the Uniswap Labs’ API with its own DEX architecture, offering users the innovative “Snap” functionality which facilitates trading without incurring gas fees.

Jason Lau, OKX’s Chief Innovation Officer, commented that decentralized trading of tokens is streamlined due to this feature. He highlighted that the OKX DEX benefits from UniswapX’s liquidity pools by being connected directly to them through this technological partnership.

When queried on how the setup permits trading without fees, Lau explained that the costs are covered by liquidity providers under a novel arrangement. He believes this will bring both financial savings and operability advantages to users.

“Users can agree upon a price, initiate the transaction off-chain and then finalize it on the blockchain. As a result, they avoid gas fees because those are incurred by the liquidity providers,” he elaborated.

Lau maintains that DeFi participants will appreciate the access to UniswapX’s new pools of liquidity. He further suggests that users will now experience transactions where “they receive precisely the amount they were quoted,” potentially revolutionizing the DeFi sector by eliminating price slippages, failed transactions, and susceptibility to MEV attacks.

As part of the company’s broad strategy to augment user engagement with a variety of on-chain functionalities, Lau sees this move as an enhancement of their service offering. He encourages user feedback and expresses their commitment to continuous innovation and feature expansion.

Additionally, OKX has mentioned that they have eradicated gas fees through this API integration. The Ethereum Multi-Injected Provider Discovery initiative, grounded on the Ethereum Improvement Proposal (EIP)-6963, has also made it possible for wallet users to access their wallets directly through the Uniswap interface.

Thanks to the seamless API integration, OKX patrons using browser extension wallets may effortlessly interact with Uniswap for a host of operations, including token exchanges, NFT commerce, participation in liquidity pools, and DApp interactions.

Also Read: OKX Officially Launches Turkish Crypto Exchange OKX TR


Source link

#OKX #Enables #GasFree #Trading #Uniswap #Integration

Leave a Reply

Your email address will not be published. Required fields are marked *