Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Arken Finance addresses the problems faced by other DEX Aggregators and provides traders a very smooth experience using high-end tools.
As the decentralized finance (DeFi) market continues to expand, the demand for decentralized exchanges (DEXs) has been growing simultaneously.
The first DEXs were built in 2014, but these solutions gained their popularity only when blockchain-powered DeFi serves gained traction and the introduction of the AMM technology helped to deal with the liquidity issues that initially DEXs used to have. Today platforms of this kind can boast increasing popularity. And one of the characteristics that help DEXs attract users is the security of their funds.
On the other hand, centralized exchanges continue to be a victim of exchange hacks. We can see the recent example of Crypto.com which lost more than 4,600 ETH coins last week.
As a result, investors are losing their trust in these platforms and moving to DEXs. With more users preferring DEXs and the options are endless, the role of DEX Aggregators becomes crucial. The concept of DEX Aggregators is simple. They are blockchain-based services that help accumulate data from a wide array of DEXs, selecting the best possible exchange provider for a given token swap and facilitating split trades to offer the best possible prices. The main aim of DEX aggregators is to provide a scope of financial tools for traders to seek the most suitable results.
Arken is one such DEX Aggregator offering the best-in-class tools to traders. It majorly differs from its competitors in ‘speed’, offering swift tracking movements of thousands of tokens and thus allowing you to make investment decisions faster than any other platform.
Arken Finance offers a real-time trading view, accumulating from multiple DEXs. In short, it offers users a single point of entry for managing digital assets with ease. The Arken tools also provide 160 different technical indicators along with specialty charts for advanced traders. This is why Arken is emerging as one of the most-recommended DEX Aggregators in recent times. Key factors differentiating Arken from others are:
- Best Rate Swap Engine: Arken’s automated system can find the best routing for maximum returns by indexing the best price and auto split order to minimize price impact. It will constantly re-evaluate the price conditions and look for better alternatives. This also comes with other features like gas optimization mode, limit orders, and price alerts.
- Real-Time Trading View: This allows traders to analyze price movements and quickly decide on buying and selling at the optimal price. It also helps in connecting synthetic asset prices with real-world prices.
- Supporting Advanced Trading: As said Arken provides 160 different technical indicators. This allows veteran traders to foresee market movements.
Arken’s Best Rate 3.0 Engine Upgrade
Arken Finance has recently announced an upgrade to the “Best Rate 3.0” Engine. This will make the protocol more competitive and efficient in the marketplace.
Along with splitting orders, the “Best Rate 3.0” Engine will index prices from multiple pools for finding the best price across all. Also, the split trading “amounts across multiple routes in a single transaction to make the trade make an even better price”.
The major change that the “Best Rate 3.0” Engine brings is that it reduces the gas fee by 20-30% from the previous version. Furthermore, there’s no double exchange tax on tokens with tax anymore. The upgrade will also ensure faster and easier DEXs and pool integration, which means the higher the number of DEXs integrated, the better are the sources of liquidity. Speaking to CoinSpeaker, the Arken Finance team said:
“We are focusing on the sustainability of the project for the long terms benefits to our users. Our broader goal is to make the entire DeFi sector become mature and grow along with great projects in the long run.”
The team is currently working on its key goal of delivering an equal financial opportunity to every person in every region of the world.
The p2p lending opportunities, high speed of transactions together with the provided anonymity and improved security ensured by DEXs are among the key factors that explain the increase in popularity of decentralized exchanges. The demand for these decentralized services can be observed all over the world but developing economies, where not every person can get access to traditional banking, are among the leaders in DEX adoption. Thanks to the fact that to start trading via a DEX a person needs to have just an internet-enabled device, we can try to predict that the same tendency will stay with us in the future. At least for now, there are no reasons to expect any decrease in interest in DEX trading from the side of users.