For a time, we’ve been testing out the waters of creating liquidity pools and providing services to projects eager to establish markets for themselves and bring in money. It’s been a massive undertaking for us, but we’re happy to announce right on the Q1 schedule this new aspect of CrowdSwap, an automated market-making system called the “CrowDEX,”
CrowDEX in Development
On top of being an aggregator and cross-chain opportunity provider, we’re finally at the point of calling ourselves a “DEX.” Becoming one, however, took a lot of effort, time, teamwork, and dedication. CrowdSwap’s incredible and agile development team put their sweat, blood, and tears into sculpting it on short notice.
What came after was by no measure any lighter! The inauguration of a befitting and yet catchy name!
The name-assigning table was jam-packed with ideas and .thoughts. Still, we finally circled back to CrowDEx, which sounded natural and easy-going on the tongue while truly capturing the spirit of DEX entwined with CrowdSwap.
Pools of Opportunities Ready to be Filled
In the future, we will make the addition of CrowdSwap token combined with a stablecoin like USDC (CROWD/USDC) or other opportunities into the DEX system happen. But, for now, we opted to go with another project.
CrowDEX has the potential to support numerous projects all at once. The first one is the EDAT/USDT opportunity, chiming in as the combination of a stablecoin and EnviDa’s utility token (which can be purchased exclusively on our application and website). As for EnviDa, its data-gathering technology is reliant on its multifunctional crypto miners.
“If you’ve missed the news about EnviDa and their token EDAT in our #Fribomb social media storm, click here to learn more about this vibrant sure-footed cross-chain-based environmental data gathering project.”
This match-making happened successfully and shed light on our CrowDEX service’s potential. EnviDa agreed to the initial TVL of up to 20,000, after which everything snowballed into an intense preparation period for the announcement, which was a mutual delight.
Receiving such enthusiasm from EnviDa showed us many other peas in the pot of liquidity pool projects — new projects are already in motion.
To us, CrowDEX doesn’t only provide pools and function as an AMM but also as an attraction, a pathway for more traffic and profitable two-sided cooperations.
How does “CrowDEX” Turn Projects Into Liquidity Pools and Markets?
Different projects can submit their request by heading to the soon-to-be designated landing and filling out the form. Afterward, our development team will take over and stay in contact with the project representatives to lock down the technical onboarding phases.
Is CrowDEX Only an Automated Market-maker?
The primary function of CrowDEX has been defined as a liquidity pool enabler where project tokens are indexed, and new market opportunities will be given the necessary attention to blossom under our cooperation.
However, that’s not the only thing we’re dishing out!
Cross-DEX Routing (Hiring Multiple DEXs)
Cross-DEX routing is another feature that we, as an aggregator, firmly believed was essential to the development of CrowDEX.
Here’s how it works:
Say you have Matic and want to exchange it for EDAT through the EDAT/USDC pool, which is a CrowDEX exclusive opportunity.
Conventional Swap methods dictate the exchange of Matic → USDC on another DEX platform (where Matic → USDC swap can happen) for the eventuality of a Matic → USDC → EDAT transaction. To minimize costs, time waste, and possible headaches, CrowDEX is bolstered with a Cross-DEX routing feature. It combines different routes (to other DEXs) into a short one-click button option, which, atop gas fee reduction, gets rid of the brutality and hardship of jumping from one decentralized service to another.
A Cushion for Price Impact
For now, this feature only applies to the EDAT market (liquidity pool), but we have plans to expand and integrate it into other incoming projects. By doing so, the high-volume exchanges are cracked into smaller undertakings, each triggered through a specific DEX and on the best route for the lowest cost — essentially, and in time, an all-in-one swiss-army knife for any project and opportunity. Ultimately, users will enjoy a much more desirable turnaround, all the while their assets are protected against the negative effect of “price impact” in a limited liquidity pool.
(EDAT) Cross-DEX routing switch-on is simultaneous with the CrowDEX launch and introduction of EnviDa. We are optimistic about its positive impact on our users and how the transactions are handled across different decentralized hubs.
CrowdSwap as a launchpad
Project starts can be a cold dark-walled hole that sometimes devours its occupants. We know this; we’ve been there but managed to crawl out of it into the light of progress and steady growth.
For projects to not fall victim to the pit of initiation, we offer a plethora of Social Media presence-boosting activities, AMA sessions on our channels, and technical support. Think of them as the climbing ladders we provide; the launch pad!
More Features and Tools Upcoming
CrowdSwap will do everything in its power to prepare the projects ready and armed to face the dangers awaiting them. For this purpose and the sake of annihilating errors, some features will be gradually released into CrowDEX, such as:
- Bot Protection (protection against sandwich attacks)
- Liquidity Vaults (unused liquidity will be used in yield farming opportunities)
As always, their announcements will meet a great deal of trumpeting and horning on our social media platforms and we will let you know as soon as they come out.
While we walk side by side with onboarding projects trying to spread wings, sometimes the weather is too stormy, or a lurking digital predator is waiting to squash a young tenderfoot’s instinct to fly. The bitter truth of the DeFi system challenges us all, but no one has control over its happening. Whether or not projects fail or succeed will not be up to us as we simply provide the tools and extend a helping hand.