By
Godfrey Benjamin
February 7th, 2024
The primary ways to get involved with digital currencies are either through a centralized or decentralized exchange.
In today’s advanced cryptocurrency ecosystem, there are hundreds of both classes of exchanges, most of which have a common denominator including a complicated user experience (UX). While some centralized exchanges are attempting to design a more simplified UI/UX, decentralized exchanges are still largely in their infancy and often pose a very steep learning curve for users, particularly the new ones. There are many emerging solutions helping users navigate the industry, and one of the most innovative is Arken Finance.
Arken Finance is a multi-function platform designed to give users a good user experience as they access some of the core features of decentralized finance (DeFi). While the protocol is still in active development, its current features are changing the game for its users, and the industry at large.
Arken Finance and the Direct Solution to DeFi’s Challenges
The DeFi ecosystem as it is today has many inherent challenges for which Arken Finance has designed a direct solution. Most DeFi protocols often lack liquidity for a wide range of trading pairs, leading to very high slippages during swapping. The lower liquidity often reduces the competitive advantage for new tokens, making them not fit to be used for most trading.
Arken Finance solves this problem, as well as the issues of scattered liquidity pools, by designing a highly liquid Swapbox that can find the best exchange rate and routes for users. The Swapbox feature comes with a gas (transaction fee) optimization mode for users who wish to save on gas fees.
Arken Finance is a multi-chain protocol that supports both Binance Smart Chain and Polygon, with a recent integration of the Ethereum Network. This solves the problem of users jumping from one protocol to another, as the majority of transactions can now be done through the click of a few buttons to switch from one network to another. The focus of Arken Finance is to integrate other chains as the demand expands in the near future.
Defined by Its Unique Features
Arken Finance is designed to serve more functions than what was described above. The protocol has a number of other revolutionary features including a TxFlow price engine, which positions the protocol as one of the fastest trading view engines available in the market today.
With thousands of tokens around today, investors and traders alike may get lost or confused as to which to pitch tents. Arken Finance has a token comparison feature that lets users decipher the performances of one token with respect to another. Amongst the features compared include the token price changes, market capitalization, and fully diluted market capitalization amongst others.
As the primary focus of the protocol is centered on UI/UX, it has plans to launch a number of unique features including Price Alert, Limit Orders, and more in the near future. The emergence of these features is billed to make the Arken Finance ecosystem a complete suite for active DeFi users.
The Arken Finance ecosystem is powered by a dual token system including ARKEN token and dARKEN. While the former is billed to open access to pro-features and exclusive on-platform benefits, both tokens will give holders the right to participate in the platform’s governance campaigns. Additional details for the tokens will be announced by the project in the near future.
