Nothing Fast is bad or frowned upon! Actually, we, as a society, thrive at things being fast: Fast smartphones, fast internet connections, fast cars, and fast lane transactions.
You may ask what’s Fast Lane Transaction and although it has an uncanny similarity to the famous rapper “Eminem” hit song, CrowdSwap’s Fast Lane Transaction is more than words in succession! It’s a feature hidden in our app, but it benefits plenty as it combines the fundamental Swaps for Liquidity Pool investment.
Today, we will unmask it and show you how our not-so-obvious features might be helping speed up your life and transactions way more than you knew!
What’s CrowdSwap’s Fast Lane Transaction?
Investing in Liquidity Pools can be tricky, especially if you have a token on a chain other than the incentive-giving pool. Usually, in both cases, it takes four steps to conclude the process and add liquidity to the pool – sometimes even more. Here are two scenarios of FLT removing obstacles, increasing your safety, and saving time.
- Scenario A: Token and Pool are on The Same Chain
The easier of the two scenarios encompasses four steps. For this scenario, let’s presume you have BUSD tokens and want to lock them down in the CAKE/BNB LP Farm (all on the Polygon network). What you had to do in older times cascaded as such:
- Swap BUSD for BNB
- Swap BUSD for CAKE
- Add liquidity and receive LP token
- Add LP token to the pool
We simplified these four steps by adding the FLT or Fast Lane Transaction to this yield farming opportunity. When requesting such a long series of events to invest in an LP Farm, the FLT automatically kicks in, calculating and doing the Swaps the fastest way possible. All this happens behind the scenes, carried out by the codes embedded in our smart contract – no human touch is involved!
- Scenario B: Token and Pool are NOT on The Same Chain
This time, the story of the LP farm and the assets is that they’re not on the same chain. In older days, you had to go through the backbreaking process of transforming the token separately into each duo token required for the LP farm. In these cases, sometimes users had to spend an enormous amount of time, energy, and of course, a pocket-tearing gas fee, which was a disaster.
For a clearer view, take this as an example. Back then, you had ETH and wanted to make an investment by adding liquidity to the CROWD/MATIC LP Farm. Here is how it would’ve gone before FLT:
- Crosschain Swap ETH (on the Ethereum network) for CROWD (on the Polygon network)
- Crosschain Swap ETH (on the Ethereum network) for MATIC (on the Polygon network)
- Add liquidity (CROWD and MATIC) and receive LP token
- Add LP token to the pool
What CrowdSwap’s FLT feature did on arrival was to crave the best route through all these pitstops in tandem with our Crosschain feature and camouflage all the Swaps and liquidity-adding in a few clicks. No more backbreaking jumping from one DEX to another!
Benefits of Fast Lane Transaction
Safety While Speeding!
Fast LaneTransaction combines multiple transactions into one easy-to-execute transaction. This way, you stay on only one platform. This helps you be more secure and safe without forcing you to go through multiple DEXs, potentially exposing your credentials to some of them and increasing the risks.
FLT is also helping preserve your vital personal information while not lifting the pedal off the metal. It brings about the fastest lane to a transaction without dragging you in (being it automatic) or jeopardizing your precious assets.
Staying One Step Ahead
It’s always like this: fewer clicks > more clicks!
Nothing comes close to when you do not just know you’re ahead but can actually see it on the screen. It’s a smile-prompting sense of achievement and victory. And that’s precisely what you get from FLT. You can see other lengthier routes and paths and the higher prices they impose, but you’re given a cheaper and faster option which is just delightful. You’re always ahead!
Lowering The Wait Time
You’ve been there, we’ve all been there; waiting minutes for a Swap to be submitted and another few minutes for the DEX platform to finish it. That’s what we’re fighting against, to lower the wait time because the route is shorter!
FLT helps with that and gives you the edge. No more wasting your time in stress and agony for the confirmation box to roll up.
Fast Lane Transactions is a compressor, a shortener, and a tool to get you and your financial doings faster to the destination. Think of it as a bullet train, the express train if you will, that, instead of multiple stations, only pumps the breaks at one or two!
Using the FLT feature inadvertently puts you ahead of the race, gives you lower costs, and throws you a life jacket against the tides of endless manual Swaps!