Decentralized exchanges are being developed with a view to breaking monopolies and increase DeFi adoption. Other challenges include dealing with liquidity and a seamless user experience.
Just like the dot.com phenomenon in the mid-90s, cryptocurrencies are reaching a phase where they are being adopted more easily. The past decade has proven to be an interesting one in which crypto adoption could be attributed to exchange platforms emergence. Thanks to the availability of many exchanges, quite a few amateurs have taken the first step into the digital currency world.
Such exchanges are the key to the success of high crypto adoption and at the same time, the reason for new debates. The question now is whether to use a decentralized or a centralized exchange. Both provide the same function, but the latter relies on third parties to store multiple digital assets and provide a liquidity pool.
On the other side are decentralized exchanges like PancakeSwap and others. These new exchanges offer investors unparalleled and true ownership of their assets. Users work with an automated protocol which offers the required security and doesn’t need any KYC procedures.
Arken Finance is an aggregator working in the decentralized exchange space and its platform is user-friendly. Any user can access Arken’s algorithm to pick the best provider for a swap and let split trades be facilitated. They get great pricing options and don’t have to worry about what they have to give up to have the best crypto trade.
Arken’s Best Rate engine was first upgraded in December 2021. It has 2 parts – the first is an Indexing Algorithm. It selects the best price from different pools and re-evaluates conditions of price within seconds. The second is the Split Order Algorithm. This tool is great for larger transactions. It splits an order into many so that all of them get the best exchange rates while being executed. This algorithm can be used in stablecoin swapping transactions too.