Source: Zero to Hero, the evolution of the DEX and Quitriam Finance
(Pocket-lint) – Decentralized exchanges (DEX) are the safest way to trade cryptocurrencies. Unlike a centralized exchange (CEX) like Binance, when you buy crypto from a DEX, you immediately have full ownership of that asset. There is no intermediary third party to facilitate the exchange. Because of this, when you buy on a CEX, you do not own the asset in question until you withdraw it into a specific wallet. While it is on exchange, you do not control this token.
This might raise the question why anyone would want to trade on a CEX when at the end of the process you don’t even own the underlying asset. To answer that, we need to dive into the history of DEX on the Ethereum (ETH) network.
Gigantic gas fees and Ethereum
Ethereum was the first mover in the Layer 1 and DeFi space and now resides under the pseudonym of the king of altcoins. The biggest problem with ETH scalability has been its volatile but consistently overpriced gas fees.
Gas fees are the price you have to pay to make a transaction on a network. Typically, the token you use in transactions is the central coin for the network, in this case ETH. Depending on the blockchain, however, it can be different.
Before deploying scalability aids like Polygon Matic, ETH prices would be comfortably around the $100 mark. Imagine buying $400 of a certain currency as an investment and paying a 25% gas fee… Yes.
Exit ETH for Quitriam Finance (QTM)
Well, that headline might be a bit hasty. With a total value of over $650 billion tied up on the Ethereum network, it is unlikely that any project will be able to overthrow the king. However, it underscores the excitement surrounding this new DEX and DeFi protocol.
Quitriam Finance includes the decentralization of a DEX with multichain capabilities. If you want to buy an ERC-20 token on a DEX like Uniswap, you will be provided with a method to fulfill the transaction. A method and ETH gas fee with high slippage – slippage is the amount of deviation between the expected gas fee and the actual gas fee when you confirm the transaction.
The QTM Decentralized Exchange offers something pretty radical. Quitriam works with some of the largest blockchains, bringing you the best gas rate with the lowest slippage from a range of blockchains. If it finds a better price and gas fee on the Solana network, it automatically forwards the transaction from that blockchain. You don’t have to do anything.
The Quitriam advance sale. What has happened so far?
Since its inception in April, QTM is currently up 90% and shows no signs of stopping. For a project so early in development, it has shown surprisingly steady growth, which usually equates to a project characterized by stability with strong fundamentals. The rare combination of centralized exchange transaction fees with cross-chain functionality all rolled into one DEX is truly an impressive feat.
It is therefore no surprise that this project is gaining a strong presence and following on social media platforms. Not only does it seem to be gaining momentum, but also a community that genuinely believes in the project. With the end of the first phase of the pre-sale on May 9th, the buying opportunities for this future high-flyer DEX are running out. Do not be late!
Pre sales: https://ift.tt/sRqWGT5
Website: https://quitriam.io/
Telegram: https://ift.tt/H5PVcIt
Twitter: https://twitter.com/quitriamfinance
Instagram: https://ift.tt/VoK04uB
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