Currently, DeFi is too separated and disjointed. This complicates DeFi trading to the point where it becomes confusing, time-consuming, arduous and expensive. The number of total DeFi users has surpassed 3.5 million people, and overall DEX trading volume is at $816 Billion for the last year. The average number of weekly DEX traders is more than 200,000, and approximately 40% of them are facing problems with multi-step transactions.
Swapping an ERC-20 token for a BEP-20 token requires the following steps:
- A token swap on an Ethereum DEX to a bridge-compatible token;
- Then a swap across the bridge;
- Then an additional swap on a BSC-based DEX, to get to your targeted BEP-20 token.
This process is clunky, can be very confusing, requires both source and target network’s native assets, and ultimately it ends up being very expensive.
There are numerous projects that aim to solve one or two issues. However, no one is trying to consolidate everything into one location… except for Rubic.
Among other projects, Rubic has come up with a helpful feature – Multi-Chain Routing, which massively simplifies the process of trading tokens across different networks. Rubic combines the first step (bridge) and the second steps (exchange) into one Swap, offering the best route; taking into account the liquidity and cost of gas, to give the user the best value possible.
Rubic is a Multi-Chain swap protocol with an opportunity to swap more than 9,500 tokens between 4 blockchains: Ethereum, BSC, Polygon and now Avalanche. Rubic has a year-long experience in DeFi and a trading volume of $53,970,125.
Rubic’s goal is to integrate one blockchain every month; the last one, Avalanche, took place in October. It included the integration of three major DEXs on the Avalanche ecosystem: SushiSwap, Trader Joe and Pangolin. It will provide its users with significantly better rates and lower fees for Multi-Chain Swaps on Avalanche.
In regards to the Avalanche Multi-Chain Routing integration into Rubic.exchange, Rubic is offering users a Gas Refund for Multi-Chain Protocol transactions of $200 or more within the Avalanche ecosystem. Currently, Rubic has built partnerships with $DUN, $TUN, $EXP, $CYCLE, $SING, $TSD, $AVE, $GB, $VSO, $YAK, $PNG, $MKC, $SWIFT, and $JOE. The Gas Refund campaign started on October 19th and lasts until November 2nd.
This article is Originally posted on CoinCentral.com
Author: News BTC