A decentralized exchange BOTSwap is an exchange that operates on the basis of a distributed registry, does not store funds and personal data of users on its servers and acts only as a platform for finding matches on applications for the purchase or sale of user assets. Trading on such platforms takes place directly between participants (peerto-peer) without any financial intermediaries.
Also on our BOTSwap there will be a function of farming, staking and viewing coin charts. That is, it will not be just an exchanger. Also, our DEX will work in several networks, unlike many other similar DEX
why is DEX
We will be going over the following:
superior to CEX?why is DEX
superior to CEX?
When it comes to DEX it offers a lot more freedom, as you might already know CEX would be regulated more heavily, while with DEX you wouldn’t even need a KYC. Which makes DEX superior and more user-friendly.
When it comes to commissions we can see that DEX is yet again superior to CEX, since they are extremely small or non-existent. While in CEX the user would be paying a lot in commissions, due to the influence of the third parties.
Possession of AssetsPossession of Assets
Yet again we are seeing a lot more freedom given to the users, because with CEX you never own your assets, they still belong to the exchange, and it’s all based on the amount of trust. With DEX you’re a full owner of all of your assets.
When it comes to CEX vs DEX and the availability, there is a much higher risk with CEX, due to the fact that if a crash happens, CEX can prevent the users from freely moving their assets, that is done to reduce the amount of losses on their end. While with DEX you aren’t forced or stopped at any point in time, so you have the freedom to move your assets around, even during the crash.
So with this knowledge, we can tell that DEX is far superior to CEX. It gives a lot more freedom, you’re the owner of your assets, you have a higher volume of tokens to trade with, you’re in control.
Our DEX is built on BSC, but in the near future we are building bridges to other chains in order to create a multichain.
Covering a wider community, expanding on the functionality of the ecosystem and opens up a bigger opportunity for partnerships with other games, which use different chains. Reduces risks, if there is an issue with one you always have the others working.