It is undeniable that gas fees on the Ethereum network are persistently high, not just high, but in fact the highest when compared to other blockchains. While some may say that sending and receiving Ether is somehow manageable, this does not hold true for transactions involving ERC-20 tokens and interacting with decentralized applications.
This ridiculously exorbitant gas fees are a heavy burden to ordinary users and a discouraging reason for users who want to enter the space of decentralized finance (DeFi). This led many to question whether DeFi is only for the wealthy and as such goes against its promise of inclusiveness. Some critics considered this factor as the main reason for the stagnation of Ether’s price in the last two months.
Despite some centralized elements, Binance Smart Chain (BSC) enjoyed growing popularity as the best alternative to Ethereum-based DeFi applications. It does not only cheaper gas fees but also faster transactions. As a result, Binance coin and many tokens built on top of BSC outperformed Ethereum and the DeFi projects around it.
Cheaper gas fees is perhaps the most appealing aspect of BSC’s DeFi apps. It makes DeFi more accessible and inclusive for everyone, not only to few who has the arsenal to pay for high gas fees. But what if there is a DeFi project which could perform totally gasless and feeless transactions and in addition is fully decentralized and multi-chain?
These are the very solutions that Zeroswap offers to make on-chain trading affordable, simple and easy for everyone.
What is Zeroswap?
Zeroswap is a multi-chain compatible decentralized exchange aggregator protocol with zero gas and trade fees through transaction fee mining. It combines liquidity from multiple blockchains and aggregates them to enable faster routing and settlement of orders. As an incentive, users receive rewards every time they make on-chain trades and provide liquidity.
The protocol fundamentally solves the problems of fragmented liquidity and high on-chain fees. By making it possible to clear orders on multiple networks without moving assets to multiple chains and offering absolutely gasless and feeless transactions, Zeroswap not only removes the primary barriers of DeFi adoption but also strengthen its pillars.
Features and Utilities
Liquidity Mining and Staking
Instead of leaving assets idle in wallets, users can provide liquidity to Zeroswap and in return get rewarded with ZEE tokens. The earned ZEE tokens can then be staked to earn even more. Currently, staking ZEE at Zeroswap gives users an annual percentage yield of 64 percent.
Dex Token Offerings
ZeeDO which is Zeroswap’s Dex offering platform (DTOs or IDOs) is a great alternative to both initial coin offerings (ICOs) and initial exchange offerings (IEOs).
It allows anyone to participate in the fundraising thereby making the process more open, fairer and more transparent than ICOs and IEOs. This will prevent the massive accumulation by whales and possible market manipulation. From the moment a project launches its token in ZeeDO, users can immediately start trading the tokens they bought.
For projects, ZeeDO offers cost-effective listings without the need to pay thousands or even millions in dollars or allocate a large part of their tokens as payment for listing. In addition, there is no prohibition for projects from listing their tokens on other exchanges.
Multi-Chain Aggregator
Zeroswap is designed with its users on its core. As a multi-chain aggregator, it currently provides access to Ethereum, Binance Smart Chain, Polkadot and Elrond chains. It also has plans to integrate Cosmos and Solana in the future.
This saves users time and efforts from navigating from one DEX to another in order to perform their trades. This also allows users to immediately switch from one chain to another to take advantage of better incentive programs or possible price actions.
Zeroswap SDK
Zeroswap is not only a user-friendly protocol but is also tech-enabled and developer-friendly. As such, other projects can easily integrate Zeroswap SDK in order to build custom decentralized services without the need of building from the scratch.
ZEE Token and Use Cases
Zeroswap is powered by its own token, $ZEE. With a total supply of 100 million and a circulating supply of almost 40 million, $ZEE currently exists on both Ethereum and Binance Smart Chain.
$ZEE is envisioned to be the catalyst of shift from centralized exchanges to decentralized exchanges. Moreover, it is aimed to play a significant role in the mainstream adoption of cryptocurrency and DeFi.
Aside from being provided as rewards for liquidity mining, $ZEE also as serves as a governance token for users to decide on future protocol changes and upgrades. Moreover, $ZEE tokens are required for users to participate in Dex token offerings. As the Zeroswap ecosystem grows, more use cases for $ZEE will be added.
All $ZEE smart contracts were fully audited by PeckSheld to ensure safety and security. The ZeroSwap Binance Smart Chain bridge was audited by Beosin. Both PeckShield and Beosin are well-respected blockchain security company.
Why Use Zeroswap and Invest in its ZEE Tokens?
While DeFi has grown in value and adoption by leaps and bounds, none have come close yet to the experience and convenience that centralized exchanges offer. Imagine being able to perform trades without giving up your private keys and having to worry about gas fees while still enjoying the same smooth and user-friendly experience that centralized exchanges offer. That is what Zeroswap is all about.
Its clean, versatile and responsive interface will certainly give users a delightful experience. By providing a single platform to help users take advantage of various earning opportunities from different blockchains, Zeroswap removes the hassles of juggling from one decentralized exchange to another decentralized exchange.
As to the $ZEE tokens, the low supply and plethora of use cases will drive its demand thereby aiding the increase of its value. To ensure the self-sustainability of every feeless trade conducted on the platform, a percentage of $ZEE tokens will be burnt and forever taken out of the supply.
Ethereum may have spearheaded the DeFi frenzy, but Zeroswap is building the future of DeFi which is not fragmented, but integrated, not limited to just one chain, but multiple chains.
It is not a question of if, but a matter of when. It is no doubt that Zeroswap provides over and above than the current functionalities offered by major decentralized exchanges. With the astonishing pace by which the DeFi space is growing, the stage is set for Zeroswap to succeed. Its unique functionalities together with its strong fundamentals make Zeroswap a project to watch out for in the coming months and years.
(Welcome to Planet Crypto. We discuss necessary information and updates regarding the cryptocurrency market regularly. So if you want to get updated, do not forget to hit the follow button and smash the like button.
I am not a financial or investment advisor. The purpose of this channel is to raise awareness about blockchain, the technology which will make the greatest impact in the decades to come and help in the mass adoption of cryptocurrencies. Please only consider this as educational or informational. This is never intended as a financial or investment advice.)
References:
1. Zeroswap Litepaper, https://docsend.com/view/m4brpx32t73x5mkd
2. Zeroswap Blog, https://zeroswap.medium.com/
What are your thoughts or opinions about Zeroswap. Feel free to share.
Have a great day.