Cross-chain Aggregation Exchange Chocoswap Looks to Data-Driven Future

UTC by Benjamin Godfrey · 3 min read
Cross-chain Aggregation Exchange Chocoswap Looks to Data-Driven Future
Photo: Chocoswap / Medium

The entire Chocoswap ecosystem will be a decentralized network that will be powered by its native Vanilla (VNLA) token.

Chocoswap prides itself as a cross-chain exchange aggregator that brings a long-standing solution to the growing market of decentralized exchanges (DEXs). The emerging platform is making its entry into the burgeoning decentralized finance ecosystem, redefining the models of DEX like 1inch, by offering price aggregation services across the different blockchain networks to help the user maximize profit in each trading session.

In practice, while platforms like 1inch scouts for the best pricing and minimal slippage on only the Ethereum blockchain, and more recently on the Binance Smart Chain (BSC), Chocoswap will deploy its cross-chain algorithm to extend this search up to the Polkadot blockchain, Solana and other blockchain networks available today.

The core ideology of the Chocoswap team is clear, to build a product that stands out from the pack, a thought-line that is gradually becoming imperative, seeing the rate at which numerous decentralized finance projects swarm the space. Chocoswap’s innovative cross-chain technology is known as “VDEX”.

Cross-Chain Chocoswap to Introduce Order Book Offerings to DeFi

Trading digital currencies and tokens on DEXs has shown over time to have a certain number of advantages over traditional centralized exchange provisions. However, the order book and pending order system of the latter, which are notably absent in the former gives a lot of flexibility to the trader, and its absence on Automated Market Makers (AMMs) and related decentralized exchanges today is considered a drawback.

Chocoswap is however coming to the rescue by combining the innovative features of DEXs including price aggregation as well as the order book and pending order trading strategies inherent on centralized exchanges. With this, traders or users, in general, will be able to define their entry and exit points in the market without having to stay glued to their screen.

Future with Data Aggregation

Based on advances in technology, including the expanding market trading size of the blockchain and cryptocurrency industry, Chocoswap sees a future with data aggregation and is inherently designing its algorithm to be able to integrate this capability in due course.

The bigger picture as outlined by the emerging decentralized trading outfit is to be a reservoir of data that can support other trading platforms, sprouting blockchain startups as well as other interested financial institutions.

In line with its data aggregation plans, Chocoswap will debut traffic aggregation, pooled mining farms, oracle machine innovations, and a system to aid developer growth.

Championing the Uniqueness of Decentralization

The entire Chocoswap ecosystem will be a decentralized network that will be powered by its native Vanilla (VNLA) token. The token will be deployed in the governance of the system and will seek to build on its currently attractive mining Annual Percentage Yield of 5,000%.

While the inaugural token offering appears mouthwatering, the Chocoswap team prides itself in rolling out a sustainable product that will be better appreciated by the growing hoard of decentralized finance enthusiasts that permeate the space today.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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