KuKuswap launched on KuCoin Blockchain | by Capital | Capital | July 2021
KuKuswap is a next-generation DEX designed to provide access to new tokens and a simple trading experience. The network combines the most popular DeFi protocol and many other benefits, making KuKuswap an ideal choice for new and old investors. Therefore, the agreement is expected to become the best performing DEX on the KuCoin blockchain.
It’s worth noting that the developers behind Library exchange The concept draws inspiration from other best performing DEXs on the market. Specifically, they stated that Binance Smart Chain (BSC) DEX PancakeSwap is their platform imitating KuKuswap. This inspiration is evident in the similar functions and streamlined interface.
What problems is KuKuswap trying to solve?
KuKuswap tries to correct many key problems. First, the network helps to eliminate the centralization of the DEX community. In the longest period of time, traders were downgraded to Ethereum DEX. Eventually, more choices and networks enter the market, but in most cases, Ethereum and BSC dominate the industry. Now ordinary traders can access a powerful new network built from the ground up to simplify top-level encryption functions.
High gasoline bills
KuKuswap users enjoy much lower fees than Uniswap users. The main reason for these cost reductions is the technical structure of the platform. The KuCoin blockchain has lower costs for transactions and execution of smart contracts. Therefore, users can save a package when migrating to KuKuswap.
Along the same line of thinking, scalability is another major advantage provided by KuKuswap. KuCoin blockchain is superior to Ethereum in terms of TPS rate and block production. Specifically, KuCoin generates a block every 3 seconds. In contrast, Ethereum takes about 13 seconds. This increased scalability directly leads to a more responsive and efficient user experience.
Despite its simple layout, KuKuswap provides users with some first-class benefits in the form of swaps and liquidity agreements. In addition, the network enables developers to easily migrate because all smart contracts are ERC-20 compatible. This decision is wise, because Ethereum still dominates the DeFi field in terms of applications and DEX. Now, developers can extend their platform to include the KuCoin community without having to create all new applications.
The KuKuswap exchange aims to provide users with access to the evolving KuCoin ecosystem. The network only runs on the KuCoin chain. Therefore, users can access a brand new token, NFT and service network. The following are some of the main features that users enjoy when switching to KuKuswap.
Exchange is the main function provided for KuKuswap users. The DEX operates as an AMM (Automatic Market Maker). AMM is very popular in the DeFi field because they provide less slippage and faster transaction time. This feature is very easy to use. The interface is designed to mimic other best performing DEXs.
What is unique is that you have many options when trading swaps. Click the gear in the upper right corner of the trading window, you will open the adjustable slippage tolerance and other functions. You can also turn on expert mode and disable multi-hop. It is worth noting that the expert mode allows you to bypass the confirmation model. This strategy can provide expert users with high slippage trading.
KuKuswap also provides users with a liquidity pool. The liquidity pool is a large smart contract in which users deposit funds, and in return, they get rewards based on the degree of participation and time. For many reasons, the liquidity pool is an important part of the other best performing DEX. Mainly because they provide users with a more reliable and safe return on investment.
If you are familiar with Uniswap or PancakeSwap, you will not have any problems navigating in KuKuswap. The platform was designed from the very beginning to simplify all the most important DEX functions. Therefore, no previous experience is required to start earning rewards and trading on the network.
KuKuswap — The next DeFi ecosystem is here
The DeFi race is heating up, and this latest entry is proof. KuCoin has long been an advanced blockchain with great potential. Now, the network has gained a powerful tool that can help connect traders and developers in new ways. It will be interesting how KuKuswap will accelerate Dapp development in the KuCoin ecosystem in the coming weeks.Now you can join the KuKuswap movement Here.