Pain Point in the Industry
The current congestion problem of the Ethereum network is obvious to all, which directly limits the total amount of DeFi transactions and hinders the possibility of DeFi’s expansion to a larger volume.
The most direct user experience is that the decentralized exchange based on the Ethereum main net is delayed due to the long confirmation time. In addition, the high gas fee is often tens and hundreds of dollars, and it is not uncommon for the handling fee to even exceed the amount of the transaction itself. This not only greatly increases the user’s transaction costs and entry barriers, but also makes the user experience uncomfortable.
In response to these issues, an Exchange stepped up and made a change — SwapAll, a one-step investment tool that can let users be easy-connected to blockchain, has found a solution.
SwapAll Exchange and Its Dual-Entrances
SwapAll is designed to be a user-friendly DeFi platform with an extremely low gas fee. It is currently one of the first integrated Exchanges with integrated multiple functions like stake pool farming, liquidity pool farming, NFT farming pool, and exchange services. And the team utilized years of experience in the blockchain industry and brought up the Layer 2 solution to solve industry pain points.
The public Ethereum chain is considered Layer 1. If users move some transactions on Ethereum to Layer 2 for processing, the results will be returned to Layer 1 after the processing is completed, so that there will be no delaying problems due to Layer 1 congestion. Thus, the Layer 2 solution is invented.
In early November 2020, the semi-centralized SwapAll mobile app was launched; in mid-April 2021, all the data was shifted to the Ethereum Layer 2 side chain, completely achieving complete decentralization.
In order to meet the needs of different users, the platform retains both the mobile APP terminal and the Layer 2 side-chain website entrance. It is currently the exclusive decentralized Exchange in the industry that supports both mobile APP and website wallet. The corresponding version entry can be selected on the official website of SwapAll Exchange (swapall.io):
To better illustrate this, please take a thorough look at these two graphs:
Although the mobile APP version and the Layer 2 side-chain version utilize a different type of wallets, they share the same pool when participating in airdrops or liquidity farming.
Both versions are available, which can meet the needs of users with different needs. The mobile APP version lowers the threshold for new users to participate in DeFi projects. The Layer 2 version completely eliminates users’ worries about the security of funds.
Conclusion and Comparison
SwapAll is open in terms of the project funders and the development team and has transparent and impartial rules. Currently, almost all the existing DeFi projects have a high threshold to operate. Only 10% of the participants with large investments of money are generating profit. The target of SwapAll is the remaining 90% of users. SwapAll is committed to lowering the capital and knowledge threshold for users so that all participants can fairly enjoy the char of DeFi.
We can better understand how SwapAll stands out in its peers through this graph:
For more info about SwapAll and its dual-entrances, please also refer to:
Tokens Listed and Chains Supported:
Layer 2 Announcements: