For a long time after the launch of Bitcoin, only insiders and true believers cared about cryptocurrency. Most other people wrote it off as either a scam or a concept destined for failure.
But that all changed when cryptocurrencies started to appreciate in value. That's when the world of mainstream finance sat up and took notice – and cryptocurrency started its journey as a premier investment medium.
But there was a problem. The crypto world lacked much of the infrastructure that investors have come to expect and depend on. And that void didn't last long. To provide a place for investors to trade in cryptocurrencies, a variety of exchanges sprang up and investors flocked to use them.
Some exploited high fee structures to extract as much profit as possible. Others fell victim to security lapses and lost millions of dollars' worth of customer funds. Still more just collapsed and disappeared overnight, leaving stunned former customers to pick up the pieces.
The trouble was that the exchanges were centralized entities – the antithesis of what cryptocurrency is meant to be.
And that's why decentralized exchanges – DEXs – have now become the preferred platforms for cryptocurrency trading.
But with no unifying authority guiding their development, they're producing a fragmented ecosystem that's not ideal for traders.
Where one DEX might have a great trading interface, it also might not feature the best prices or fastest trade settlements. It's an issue that's begging for a solution.
And we believe that UniDex is that solution. It's a trading platform built by traders and for traders. And it's designed to provide single-platform access to the best that today's DEXs have to offer. Here's how we're doing it and why we think it's going to change crypto investing forever.
The purpose of UniDex is simple. We've built it to be a no-compromise trading system that preserves user anonymity while solving many of the problems that come with trading through a single DEX. With it, traders can avoid liquidity problems by making trades across all of the leading decentralized exchanges simultaneously.
And our system executes user buy and sell orders dynamically, yielding the best possible price available from any of our supported DEXs. As of now, those DEXs include nearly 70 different platforms at the time of writing. But that's not all UniDex can do. It also works to defeat slippage, which is an issue that robs traders of gains because of an inherent weakness in the way DEXs work.
When trading cryptocurrency on a single DEX, it's often difficult to place orders of any significant volume because you're limited to the token liquidity provided by that DEX. As a result, a single large buy or sell order can send a token's price up or down by a significant percentage. That's called slippage, and it leads to diminishing returns for traders placing large or high-frequency orders.
Over time, several platforms found a way to deal with this, including UniDex. However, UniDex went even further than that. Not only did we solve this issue, but our liquidity aggregator can also aggregate many other exchanges, and even other aggregators, such as 0x, 1inch, or paraswap.
And because we've built UniDex to process trades most efficiently by design, traders can just place their orders and trust that they'll get the best possible price. That's how traditional financial markets work, and it's something that's been missing from cryptocurrency trading since the beginning.
We're not content to be a simple efficient cryptocurrency swapping platform, though. We want to create a trading system that provides the same flexibility and options that professional investors find in older more established markets. In the coming months, we're planning to add additional trading functionality to round out our industry-best offering. Some of the upcoming features include:
When we're finished, we think UniDex will provide a best-in-class trading experience for everyone from casual investors to seasoned professionals. And in the process, we'll have solved a variety of crypto investing's biggest and most stubborn problems.
Although we've got a roadmap loaded with user-focused developments planned, we're also not losing sight of who UniDex is built to serve. Investors. And investors that use our platform are in charge of where we go next. Through our native UNIDX token, our users can have a stake in the platform and vote on how it's run and developed going forward.
And by doing so, they also get a 50% share of all trading fees collected – paid out in ETH, or BNB on Binance Smart Chain, to which UniDex expanded earlier this year. But that's not all. We're also building out additional reward systems for token holders, and eventually, they'll even get a discount on any trading fees they incur.
We at UniDex know that we've got our work cut out for us. Solving big problems isn't ever easy, after all. But we think we've worked out solutions to some of the issues that keep crypto trading from delivering peak value to investors. And we're doing it in a decentralized way, in keeping with the true intent and spirit of all cryptocurrencies. In time, we hope our users will become our allies in our mission to make crypto investing just as seamless and lucrative as all of the other more established financial markets. So, join us on our journey. We'll be glad to take you where you want to go.