Following a recent report from CipherTrace, the DeFi sector lost nearly $96.2 million between the first and second half of 2020. The report alone shows how challenging it can get when manoeuvring your way into the DeFi space, especially for first time traders.
At the same time, DeFi trading has become a fruitful venture for most investors as they choose to earn from various projects and digital tokens. The gross value of assets locked in DeFi is seemingly escalating, revealing a 58% increase from November 2020 to January 2021.
Even with the lucrative benefits, users still need to approach every opportunity with caution guided with the right facts.
Investors don't need to worry as DEXTools got them covered to provide credible data feed for their trading activities and insightful information concerning a particular protocol. As everyone ushers in a new year, DEXTools will be on the frontline to establish interoperability between projects along with consumer protection.
Establishing DEXTools From Scratch
DEXTools started as a beta ecosystem that aimed at testing out their new product by actively engaging the public. Driven with the vision of providing a thrilling trading experience, the small-scale platform was able to garner a positive response from users.
Since then, DEXTools made an effort to onboard a team of well-known crypto advisors to expand the project's visions. Within no time, the ecosystem managed to collaborate with projects in the DeFi space such as Uniswap.
DEXTools is currently looking forward to overturning the problematic issues in decentralized trading into a worthwhile opportunity.
How to Operate
DEXTools runs on an easy to use interface compatible with mobile or desktop devices. Utilizing the data system is relatively straightforward since an investor is required to pay subscription fees.
The subscription plans come in three different versions, with each plan carrying its charges followed by their distinct features. The first version is free, enabling Uniswap tools such as Pair Explorers, Bigswap Explorer, Multiswap, and Pool Explorers.
Another subscription plan is the standard version, which carries all the basic functions in the free version. The plan further includes other features like wallet information, price alerts, and transactional data.
Charges for this subscription are 0.3 ETH in DEXT (Peggd eth = 500 usd). Alternatively, you can choose to hold 20,000 DEXT Tokens. Remember, the platform offers a 50% discount for investors holding 5000+ DEXT. Soon, DEXTools plans to add more features to this version, including trading bots, limit orders, and connections with various DEX platforms.
The final subscription is a premium membership version with a fee of 100,000 DEXT/hold. Among the features, subscribers can anticipate including access to DextForce Telegram Premium Group, DEXTShare resulting from DEXT subscriptions, standard version features, and more high-end upcoming features.
Still, on the operative aspects of DEXTools, users can store their data across any device, which reduces the need for constantly shipping data. Live notification settings are also available for users who need an update on any trading platforms' modifications.
DEXTools' Contribution Towards Uniswap
Uniswap is a leading decentralized exchange residing on the ethereum blockchain. Therefore, with its decentralized nature, the DEX platform allows users to swap ERC-20 tokens without unnecessary delays and scrutiny from AML/KYC procedures.
As mentioned earlier, DEXTools is working hand in hand with Uniswap to provide access to features such as:
Multi-Swap
Here, investors are allowed to conduct multifold trades on DEXTools, courtesy of Uniswap. Through this action, users earn way more as they use a combination of diverse crypto swaps.
Uniswap Pool Explorer
Liquidity pools on Uniswap usually contain a pair of assets bound by a smart contract. Considering the volatile nature of virtual assets, each pool comprises specific prices guided by the Automated Market Maker mechanism.
Users also can add or remove liquidity from some pairs as they pursue the best investment asset.
DEXTools adds this feature in its operations allowing investors to hunt down for new pools. Consequently, Uniswap Pool Explorer aids in exposing any fraudulent project in the DeFi space.
Bigswap Explorer
DEXTool users can view the most recent bigswap trades taking place on Uniswap's end under this feature. Therefore, it gives investors the upper hand before making any major investment decision.
Uniswap Pair Explorer
By using real-time metrics and transactional data, DEXTools users can identify hot pairs via Uniswap's Pair Explorer. From there, users can make informed financial decisions by adding the most appropriate pair of their choice to a profit maximization pool.
Conclusion
DEXTools is a goal-oriented platform importing useful analytical data for investors to act upon. Inexperienced traders will have an easy time when attempting to execute trades now with DEXTools in play. Asides from Uniswap, DEXT tokens are available on other exchanges such as IDEX, BKEX (USDT), Hotbit (ETH), among others.
On the other hand, DEXTools can predict any market dump scenario, which in most cases causes uneasiness in the market and losses to investors. In the end, DEXTools will give users the confidence they deserve when making trading decisions by using a resourceful infrastructure.
