Crosswise is Taking the DEX Experience to the Next Level

Cryptocurrency trading is more popular than ever before. Thanks to heightened public visibility and institutional support for the industry, more people are aware of and using crypto. This also means that crypto exchanges are more popular, with many shattering their previous daily transaction volumes, especially during bull runs.

But all exchanges are not created equal. For years, centralized exchanges were king in the industry but after several security breaches, coupled with the rise of decentralized finance (DeFi), decentralized exchanges (DEXs) also began to see more popularity among crypto users.

Why DEXs Are Popular 

As the name would imply, decentralized exchanges operate differently from their centralized counterparts. The first is that the users do not need to surrender their assets to the exchange to conduct transactions. In the typical centralized exchange setup, users need to deposit their tokens into the exchange’s wallet, essentially relinquishing some of their control of them, before they can carry out transactions.

In the case of DEXs, users do not have to do this but can trade tokens directly out of the wallets they solely control. They also allow for more anonymity for users, especially when compared to centralized exchanges that sometimes even require government-issued identification to open an account.

On top of this, DEXs are less vulnerable to manipulation and hacks than centralized exchanges, which have lost billions collectively over the years to these hacks and security breaches. With all these in mind, crypto lovers have flocked to DEXs over the years.

But, while DEXs have been firmly established within the crypto world for years now, there is no end to innovation. 

Enter Crosswise 

Crosswise is a next-gen cross-blockchain AMM (Automated Market Maker) and DAPP (Decentralized Application) that intends to build a DEX on Binance Smart Chain, Polygon, Fantom, Avalanche, and more.

The goal of crosswise is to create an improved version of the existing DEX ecosystem. This will be done through a combination of improved security, a better user experience, cross-chain capabilities, and much more.

Crosswise will offer features like instant token swaps and order books to enable customers to track their tokens. There will also be the option to trade tokens on a feature called gasless mode. This will allow users to trade without having to pay gas fees. Furthermore, holders of the platform’s native tokens (CRSS and XCRSS) will enjoy voting privileges and be able to make changes to the ecosystem.

The platform has also taken great pains to eliminate some of the pitfalls often found in both centralized and decentralized exchanges. To prevent any price manipulation, Chainlink will act as the price oracle and anti-whale protection and bot deterrents are in place to give all users an equal footing on the platform.

The technology behind crosswise has also been designed to handle peak user demand as well as crosswise’s intended cross-chain transactions.

Crosswise is also planning to support entrepreneurs and developers who might wish to launch their own projects through its incubation and launchpad program. The program offers support with funding, marketing, and user acquisition.

The Future of DEXs

When DEXs came on the scene, they were seen as an innovative solution to the problems associated with centralized exchanges. Now, crosswise wants to improve on even that by closing gaps in the market and creating more access for its users.

From cross-chain flexibility to improved security, crosswise is showing that there is no end to what DExs can do for the crypto world.