Place/Date: - February 21st, 2022 at 4:07 pm UTC · 3 min read
FaniTrade, a global blockchain company with a complete suite of DeFi applications, today announced the launch of its advanced Decentralized cryptocurrency exchange set to go live on Feb. 22. 2022.
The first protocol to be released is FaniSwap, a permissionless DEX that offers a seamless experience to traders and investors with wallet-to-wallet (P2P) trading functionality. Unlike centralized exchanges such as Coinbase or Binance, FaniSwap is a non-custodial exchange that does not require users to sign up with personal details (KYC). The users are in full control of their funds, as all the transactions are made via SPL Web3 wallets.
The protocol built on public blockchain Solana will offer users faster transactions and lower gas fees, unlike other popular decentralized platforms. The clean and intuitive design allows traders to see a live price chart while swapping their favourite tokens. Furthermore, they can easily adjust slippage to ensure no overpay purchases. The amount slider is another great feature that offers the convenience of selecting a percentage of the asset balance without entering the amount.
With an objective to provide more flexibility and efficiency to DEX traders, FaniTrade introduces the limit swap feature to buy and sell assets at the desired price. This was a big challenge for most decentralized exchanges competing against their centralized counterparts. Advanced traders and professional market makers can now take advantage of this feature to increase the profitability of trading.
Users will also be able to provide liquidity by adding their assets to a pool and using it to make transactions.
FANI is the native utility token of the FaniTrade ecosystem that offers a wide range of benefits for the holders. 12% of all transactions go into the liquidity pool, while 3% go directly to staking holders. With FaniEarn, you can get additional rewards by staking FANI tokens, while FaniPool allows you to add liquidity in exchange for an LP token.
FaniTrade aims to create a comprehensive suite of DeFi applications for crypto investors. The mission is to accelerate cryptocurrency adoption while enhancing user experience with improved technology. Platforms like FaniLend and FaniDex are in the pipeline to add further convenience.
The company also has a roadmap lined up for some exciting launches beyond the world of decentralized finance. Some of them include: