OKX, a leading cryptocurrency exchange, has introduced a groundbreaking ” Snap ” feature on its decentralized exchange (DEX) platform. This integration incorporates Uniswap Labs’ application programming interface (API), facilitating gas-free trading for users.
Eliminating Common DeFi Challenges
Jason Lau, the Chief Innovation Officer at OKX, expressed that Snap effectively tackles prevalent issues in decentralized finance (DeFi), such as slippage, MEV attacks, and failed transactions. By integrating with Uniswap Labs’ API, OKX DEX now grants users seamless access to the UniswapX protocol and associated liquidity.
Lau elaborated on the mechanism behind the no-fee swaps, detailing a novel approach where liquidity providers bear the transaction fees on behalf of users. This innovative model entails users agreeing to a price and signing transactions off-chain, settling them on-chain. Consequently, users incur no gas fees, ensuring a cost-effective trading experience.
OKX enhanced user experience and reliability
Integrating with UniswapX protocol offers users access to additional liquidity and guarantees precise token swaps without slippages or transaction failures. Lau emphasized the significance of this development in augmenting OKX’s suite of offerings and reaffirmed the platform’s commitment to broadening users’ access to diverse on-chain use cases.
Additionally, OKX announced implementing the Multi-Injected Provider Discovery upgrade on Ethereum based on the Ethereum Improvement Proposal (EIP)-6963. This upgrade enables OKX wallet users to seamlessly locate their wallets within the Uniswap interface.
This enhancement applies to all browser extension wallets, empowering OKX users to engage in various activities, including crypto swapping, NFT trading, participation in liquidity pools, and DApp development through Uniswap.
Continuous development and user engagement
Lau reiterated OKX’s commitment to ongoing development and enhancement of functionalities, encouraging users to provide feedback for further improvements. The integration of Uniswap Labs’ API and the introduction of Snap exemplify OKX’s dedication to facilitating a seamless and cost-efficient trading experience for its users.
Source: https://www.cryptopolitan.com/okx-integrates-uniswap-labs-api-to-enable/