CoinEx Smart Chain(CSC)| OneSwap: Start DEX Trading with Ease

CoinEx Smart Chain
3 min readMar 13, 2023

Over recent years, the crypto market has seen tremendous growth. Meanwhile, thanks to their strong performance in terms of security and decentralization, decentralized exchanges (DEXs) have emerged as a key crypto category, gaining popularity among users. According to The Block Research, the monthly DEX trading volume in February 2023 reached approximately $72.89 billion, up $12 billion from January.

Source: The Block Research

Yet still, compared to centralized exchanges (CEXs), DEXs are so difficult to use that they have frustrated many crypto beginners. As more users venture into the DEX category, DEXs are striving to remove the threshold and become more accessible. For instance, CoinEx Smart Chain (CSC) offers OneSwap, a user-friendly DEX designed to help newbies get started with DEX trading in no time.

As a one-stop trading platform, OneSwap combines AMM with its on-chain order book, allowing users to place limit orders and list tokens for free. The platform now supports OneSwap Wallet, MetaMask, ViaWallet, and other wallets available on CSC.

On OneSwap, users can exchange tokens, provide liquidity, predict to earn, and trade NFTs through its NFT marketplace. In particular, this open-sourced platform has been audited by reputable blockchain security companies such as SlowMist Technology, PeckShield, and Beosin.

Oneswap offers a wide range of features, and we are going to focus on the following four.

  • Exchange

On OneSwap, token exchanges are the most common interactions between users and the protocol. With over 200 cryptos available for exchange, OneSwap users get to exchange tokens easily, quickly, and securely. To exchange tokens, users only need to select the tokens they own and the target token, and OneSwap will execute the transaction through smart contracts based on the amount ordered.

  • Liquidity Mining

On OneSwap, each liquidity pool contains two types of assets, and any user can become a liquidity provider (LP). LPs can add liquidity to a pool and receive mining rewards in return based on their liquidity share. OneSwap’s liquidity pools are not run by any third party, and there is no private trade matching engine. Moreover, when there is sufficient liquidity in the pool, buyers can complete transactions without having to interact with sellers.

  • Prediction

Prediction is a function that allows users to predict the future movement of the BTC/USDT market price and potentially win millions of CET. The feature fully demonstrates OneSwap’s product value: ease of use. It makes earning cryptos more fun for users, making DEXs more widely accessible.

  • NFT Marketplace

OneSwap’s NFT marketplace is a platform for minting and trading NFTs. It allows users to mint NFTs for free and only charges a 2% fee for NFT sales, lower than most NFT platforms. Moreover, creators can also set a royalty fee of 0–10%.

In addition to the basic functions, OneSwap NFT Marketplace offers an English auction model (ascending auction), enabling buyers and sellers to jointly determine an NFT’s value.

As for the user experience, OneSwap comes with an intuitive UI, making it easier for crypto beginners to navigate through the DEX. Additionally, the platform provides a help center with detailed operating instructions that address common issues frustrating users and lower the threshold.

As it records steady growth by tracking user demands and developing better products and innovative features, OneSwap aims to create a secure and user-friendly one-stop trading platform. Going forward, the DEX will keep on perfecting products such as crypto trading and liquidity mining, with a focus on innovative crypto technologies. Meanwhile, OneSwap will also develop new services that meet user needs, empower the growth of the DEX category, and lower the threshold of DEXs.

--

--