DEX stands for Decentralized Exchange, the DEX platform is not regulated by any party, they utilize smart contracts and other distribution solutions to build cryptocurrency exchanges.
By using smart contracts, it is possible to trade on the DEX platform automatically without any intervention from other parties. If on the CEX platform, the balance is stored in a hot wallet or cold wallet, in contrast to DEX, the balance is stored securely in a smart contract, this makes DEX more secure than CEX, in terms of fund theft or wallet hacking.
The DEX platform does not require registration to trade, there is no limit on buying and selling transactions and there is no need to do KYC to withdraw funds. In contrast to CEX which has many regulations and has the risk of being hacked, even if you look at the history of the past few years, many CEX platforms have lost millions of dollars in assets due to hacking of their hot wallets. DEX is a solution for security, freedom and anonymity.
Coinex Smart Chain is a high-performance blockchain platform with EVM support. on the Coinex Smart Chain blockchain platform (hereinafter referred to as CSC) there are several DEX exchanges that you can use for automatic buying and selling transactions without KYC. The reason we like DEX CSC so much is, we can swap CRC20 tokens quickly, easily and transaction fees are very low.
There are several advantages when you use the Coinex Smart Chain DEX platform
- The transaction or swap process is very fast, only 3-5 seconds, the transaction is fully confirmed
- Transactions are very safe, because all trading interactions use smart contracts,
- The costs for swap, add-remove liquidity, farm and staking are very cheap, no more than $0.01, even cheaper than that
Free and anonymous, no need to register using email or do KYC - No limit, no transaction limit on Coinex Smart Chain’s DEX platform
To perform automated trading (using DEX) on CSC, you can use 2 platforms, oneswap.net and ifswap.finance . But in this article I will discuss the ifswap.finance platform
ifswap.finance is a Decentralized Exchange platform that resides on the CSC blockchain, if you notice, ifswap finance is similar to BSC pancakeswap, probably because they use the same Dapps. It’s very easy to use ifswap DEX, just like BSC pancakeswap, but there is a difference in higher transaction speed and cheaper fees, that’s because ifswap uses the Coinex Smart Chain blockchain
What can you do at IfSwap Finance
1. Swap Token CRC20
CRC20 is a standard token coinex smart chain, just like ERC20 on the ethereum blockchain. You can trade CRC20 tokens automatically on the ifswap platform. You are free to choose which tokens you want to buy, of course with a very small transaction fee, only $0.0039
2. Add – Remove Liquidity & Listing Token CRC20
Just like other DEX platforms, you can add Liquidity to ifswap or remove liquidity. You can add liquidity to any pair you like, but we recommend that you use a pair that has a lot of transactions, because you will benefit from a fee for each transaction.
You can also list CRC20 tokens to ifswap, so that CRC20 tokens can be traded. The listing process can be done easily, quickly and without permission. After you create a pool and add liquidity, CRC20 tokens can be directly traded on the Ifswap platform. Listing is 100% free, in contrast to the CEX exchange which asks for a listing fee (thousands to millions of dollars), the listing process only requires a transaction fee to the CSC, this only requires approx $0.098 or 1.37 CET
3. Farming Token CRC20
You can do farming and get profit from farming. To do farming, you need to add liquidity, for example in the CET/USDT pair, when you add liquidity to the pair, you will get a liquidity provider token, you can use liquidity provider tokens for farming CET/USDT (on the farming menu).
4. Staking Token CRC20
Ifswap has a staking feature for CRC20 IFS Tokens, IFS is a token belonging to the ifswap platform. IFS holders can earn profit by staking their tokens (IFS) to the ifswap staking pool.
5. IFO
IFO stands for Initial Farm Offering. IFO is a fundraising model that helps new Crypto projects to raise capital by participating in pre-sale events organized after strict project vetting by decentralized exchanges (DEX). To register IFO on ifswap you need to contact the ifswap admin and submit an IFO request to them
Conclusion
Using DEX on the Coinex Smart Chain blockchain platform is very fun, in addition to high transaction speeds and very low fees, DEX on CSC is also safer for coinex CRC20 token transactions. If you have a crypto project that uses Coinex’s CRC20, I recommend listing it on ifswap, because it’s easy, safe and free (no listing fee). GOOD LUCK
