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SnowSwap Levels-Up DeFi With Multi-Chain AMM

Published 07/07/2021, 10:20 AM
Updated 07/07/2021, 12:00 PM
© Reuters. SnowSwap Levels-Up DeFi With Multi-Chain AMM

  • DeFi protocol SnowSwap is a multi-chain automated market maker (AMM).
  • SnowSwap’s multichain functionality could help aggregate cross-chain liquidity.
  • Also, SnowSwap’s $SNO utility token offers exceptional functionality and tokenomics.

SnowSwap is a multi-platform decentralized exchange (DEX) that offers the next-generation of DeFi multi-chain AMM for traders. The DEX aims to solve problems faced by current DEXs with regard to functionality.

For instance, presently DEXs are failing to scale and adequately compete with central exchanges (CEX). This is partly because most DEXs are limited to one platform. On the other hand, CEXs support multi-platform trading.

CEX vs DEX

Also, CEXs are exceptionally easy to use and generally provide a good user experience.

In addition, these exchanges enable easy crypto onboarding as they support fiat to crypto purchases. However, their centralized nature goes against the ideology behind blockchain and cryptocurrency.

Along with this, most CEXs require complex KYC and AML which negates use...

This article was first published on coinquora.com

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