PlasmaPay, a digital payment platform enabling entry into DeFi, announces the launch of PlasmaSwap, a decentralized exchange (DEX) providing fast, secure and liquid trading with an industry-leading user-experience (UI) for professional traders.
PlasmaSwap’s UI is geared specifically towards professional traders and will offer a fully decentralized implementation of limit trades. DEXs often use centralized order books, resulting in expensive gas fees. On PlasmaSwap, users save on gas fees and maximize profits in a truly decentralized manner, while also removing the reliance on centralized order books. Limit orders smart contracts will be interacting with Ethereum 2.0, and traders will be able to trade on swap without an ETH balance.
“Existing decentralized exchanges lack the streamlined user experience and intuitive ease of use of their centralized counterparts,” PlasmaPay CEO Ilia Maksimenka said. “They also tend to lack liquidity for most trading pairs. The launch of PlasmaSwap is an evolutionary leap towards making this exciting technology a reality for professional traders and institutions looking to enter the DeFi space. In this constant flux, where new and improved technologies are being introduced and accepted rapidly, the advancements brought by PlasmaSwap decentralized exchange will accelerate the process of unifying the old and new financial paradigm.”
Professional arbitrage traders will be able to leverage PlasmaSwap’s Flash Rebalancer tool to rebalance liquidity for one trading pair to many in one transaction, giving traders the benefit of saving vastly on gas fees. In addition, PlasmaSwap will introduce PlasmaVaults, a tool designed for institutional investors which provides a multisig account (wallet) that can be controlled by many people, enabling truly decentralized trading.
PlasmaSwap will be integrated into the Plasma.Finance platform, elevating the status quo of trading by providing the toolkit required for an intuitive trading experience. The DEX will also offer users industry-leading DeFi analytics from Binance and Kraken dashboards, including trading view, trading data and liquidity depth.
Providing fiat on/off ramp services to more than 100,000 cryptocurrency users from 165-plus countries via mobile and desktop apps, PlasmaPay is building a blockchain ecosystem that will enable users to enter the cryptocurrency space and participate in DeFi activities across multiple chains from a single interface. PlasmaPay uses blockchain technology to allow users to securely store crypto and fiat currency, buy and exchange digital assets, send and receive cross-border payments, and build payment networks with zero transaction fees. Its mission is to create an open, intuitive financial platform allowing the world to unlock the full potential of blockchain technologies.
