Crypto super DEX: KardiaChain
Say goodbye to expensive gas fees.
Why is KardiaChain’s DEX revolutionary?
KAIDEX brings cross-chain swaps with near-zero transaction fees. Literally. For example, you’ll be able to swap any ERC-20 token without the need to pay expensive gas fees and it’s super fast. 6,000 TPS fast and KardiaChain says they can ramp up the speed in the future through sharding.
[Transaction fees are paid in Oxy which is the KardiaChain native gas equivalent to Gwei for ETH. Except Oxy is 10,000–100,000x cheaper. 1 KAI is enough for many many transactions.]
Don’t know what a DEX is? Scroll to the bottom.
Swap with any blockchain!
Have a token on Ethereum that you want to swap with a Binance Smart Chain token? DONE. What about other blockchains? NO PROBLEM. The beauty of KardiaChain is that their dual-node technology allows for interoperability with ANY blockchain of choice. And the key point is that it’s non-invasive meaning permission is not required to connect with another blockchain.
How does it work exactly?
With a single click, a User can swap an ERC-20 token on Ethereum to a BEP-20 token on BSC. Straight from their own wallet.
No wrapping or pre-burn mechanism is required. The dual-node tech works to verify cross-chain transactions on a Layer 1 consensus mechanism e.g. KAI-ETH, KAI-BSC. And then the transactions are verified by the main-chains via a Layer 2 consensus. Only KardiaChain does this.
It’s decentralised as any cross-chain deposit, withdrawal or swap by a user needs to be seen and accepted by the whole network via this two-layer consensus mechanism.
The problems with Uniswap right now.
- Expensive and unpredictable gas fees;
- Slow transactions that can fail costing users even more in gas fees;
- High slippage;
- You cannot transfer cross-chain; and
- No trading tools like limit/stop orders.
Even with EIP-1559 coming soon, it won’t really do much to reduce the cost of gas fees.
Why is KAIDEX important for the future of the DeFi?
All these issues mean that the entry barrier to buying a hot new project is actually very high. Want to buy $100 USD worth of a token? Forget about it with Uniswap. You could be paying $50 in fees alone — that’s 50% of your investment. Have you ever had a Uniswap transaction cancel on you? You lose money in gas fees.
The future of DeFi rests on having low entry barriers to the crypto market. If there is to be mass adoption of cryptocurrency, everyone around the world needs access to a fast and affordable decentralised exchange.
With existing fiat on-ramp solutions to buy Ethereum or Bitcoin, users will be able to exchange cryptocurrencies without the need to relinquish custody of their crypto assets or provide KYC verification. This is what a DEX should be.
Unique features for a DEX:
- KAIDEX will have trading tools like limit/stop orders — a first for any DEX. You won’t need to wait all hours of the day to get your perfect entry;
- Cross-chain farming;
- Cross-chain staking; and
- Cross-chain lending.
Initial DEX Offerings
It would be crazy for any project not to IDO on KAIDEX. With access to cross-chain liquidity, a new token will perform very well as it will be completely accessible to the public right from the start. There will be no need to create multiple tokens to list on multiple DEXs e.g. ERC-20 on Uniswap and BEP-20 on PancakeSwap.
Is there any competition?
Can a DEX built on Polkadot or Cosmos do this? Yes. But Polkadot and Cosmos have protocols that are required for two blockchains to be interoperable. Put simply, it’s not straightforward for them to add new blockchains.
With KardiaChain, blockchains can connect with each other regardless of protocol by algorithms and consensus. It’s pretty seamless — this is the way.
The future of KardiaChain.
KAIDEX is just one showcase of KardiaChain’s interoperable blockchain tech. It’s a whole smart contracts ecosystem with a plethora of partners already such as LG CNS, Chainlink, Theta and LABS.
The project’s first goal is to hit mass adoption starting in Vietnam and then other countries. Over 900 million KAI has already been staked as of 31 March 2021. That’s approaching 1/5 of the total supply!
Watch this space.
What is a DEX?
A decentralised exchange (or DEX), is a peer-to-peer exchange for people to swap cryptocurrencies. It’s the way most new projects list their tokens to the public as opposed to listing on a tier-1 exchange like Binance, which costs millions in USD —in part liquidity to the exchange, and in part fees. It’s simply not an affordable way to launch your new project. So that’s why most projects list on Uniswap first. Plus Binance is centralised meaning users don’t have full control of their crypto assets.
