June 30 – Crypto asset navigation site CoinMarketCap has announced the launch of its own token exchange service that allows users to connect to supported crypto wallets and trade the associated token directly on CoinMarketCap.
As of press time, Uniswap V1 and Uniswap V2 are the first decentralized exchanges (DEX) to be accessed.
Currently supported networks, wallets and DEXs
Supported DEX: Uniswap
Supported networks: Ether
Supported wallets: MetaMask, WalletConnect, Coinbase Wallet, Fortmatic and Portis.
How to use the token swap feature on CoinMarketCap
First, navigate to the page with the relevant token. On the right side of the page, you can see the converter between two tokens and the “Swap” option.
After clicking “swap”, you will be able to select the crypto assets and the amount you want to swap, at which point you will need to connect your wallet and sign the blockchain transaction.
Make sure you have checked the commission, price slippage, minimum value received and slippage tolerance before confirming the trade.
Comparing other DEXs in the same period, we can see that CoinMarketCap offers a token swap service with a smaller slippage than a single DEX protocol, but higher than aggregated protocols (e.g. 1inch and Matcha). It is foreseeable that CoinMarketCap token swap will also go the aggregated route in the future, and as its As more and more DEX protocols are supported, the slippage of related token transactions will also become smaller.
Shortcomings and advantages
From my experience, I feel that the biggest shortcoming of CoinMarketCap token swap is that it is difficult to find its trading portal, which is the place where it cannot compare with the mature DEX such as Uniswap.
Of course, with CoinMarketCap’s own traffic advantage, its token swap service does make it easier to win some users, which is the same as the token swap service launched by MetaMask, which has made some good achievements in the DEX field with its huge wallet user base.
A little speculation
Finally, about CoinMarketCap, in fact, we all know that it has been acquired by Coinan, so obviously, the future CoinMarketCap token swap is likely to support BSC and related DEX, and as a cross-chain aggregation token swap service, will it issue its own tokens?
Personally, I think there is a greater possibility, as to whether there will be airdrops, and what the rules will be, it is unknown.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/learn-about-coinmarketcaps-dex-aggregation-service-in-one-article/
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