1/
2022 made it clear that we need #decentralization more than ever before.
Both #FTX and #Celsius bankruptcies resulted in many people suffering significant financial losses.
Some lost their whole lifesavings, others were left with debts.
2/
That #Binance FUD not too long ago also made most of us hold our breaths for a minute there..
Add the current macroeconomic condition on top of that and you see that threat of insolvency looming over centralized entities is very real
3/
While centralized exchanges provide an easy access point for both crypto newcomers and veterans alike, we’ve all witnessed truth of the saying...
..not your keys, not your crypto
4/
It's clear that #decentralized exchanges (#DEX) are the future.
However, with that being said we do have to face the fact, that this #crypto sector is still in its infancy, and therefore comes with some drawbacks:
5/
Issue #1 - They’re not very user-friendly
You need a decent level of understanding of blockchain technology - about dApps, gas fees, slippage, how to set up a wallet, how bridging works etc
There's also a high risk of losing your funds if you do something wrong
6/
Issue #2 - They're mostly constrained to one chain
While some of them claim to be #crosschain, they're in fact referring to the possibility of bridging your assets pre or post swap.
That limits the user even more, is inconvenient and affects the end price negatively.
7/
Issue #3 - They can be quite costly
Low liquidity, high slippage, and at times network congestion are only few of the factors that might raise the final transaction cost
Plus, usually fees are paid in its native chain token. If it pumps, then so does the usage cost
8/
This is where #Chainge Finance comes into play, with answers these three critical issues.
So, what do they propose?
9/
Solution #1 - Make it intuitive and effortless
Grab a phone, go to Google Play or App Store and download Chainge Finance.
After setting up a wallet you gain access to 1458 assets spread across over 30 different chains (on the day of writing this), right at you fingertips
10/
Now you can..
- make transactions
- swaps in #DEX
- add liquidity
- write options
..and more.
All of that with just a few clicks in the #Chainge app.
Sounds easy? Because it is.
11/
Solution #2 - Unlock the true #crosschain potential.
Even if your assets are spread across several different blockchains, you no longer need to jump between dApps and use bridges move them between chains.
#Chainge handles the issue for you.
12/
When you initiate a transaction, their smart router splits it simultaneously across multiple chains, allowing you to seamlessly finalize it.
This is what cross-chain should be like if we want regular people to ever start using crypto.
13/
Solution #3 - Optimize usage costs
Lower liquidity on a chain usually results in a high volatility of price, and high slippage.
#Chainge finance solves it by aggregating over $70B of liquidity from multiple DEXs residing across several chains.
14/
Their aforementioned smart router seeks out the fastest and best possible transaction for you cost-wise, saving you both time and money.
When it comes to fees on Chainge, they're mostly competitive compared to other DEXs. Their final cost depends on the type of transaction.
15/
That's just a fraction of what @FinanceChainge aims to offer- true #decentralization through crosschain liquidity aggregation
Certainly, there's room for improvement, but we might be witnessing a birth of a #DEX that rivals even the major centralized exchanges in a few years
That was a long thread, yet I only scratched the surface on this one. #Chainge Finance is beast.
If you found value in this thread, I'd appreciate if you clicked on the heart and RT'ed the first tweet to let others know about it too.
twitter.com/MoonshotsApe/status/1613588975305854979?s=20&t=rseqT79plZCnnxW-yGv4lA