Dexalot, the decentralized exchange (DEX) operating on an Avalanche Subnet, announced on Tuesday, September 19th, that it had launched two new features.
In a press release shared with Cryptowisser, the team said the two new features, SimpleSwap and SimpleView, work in harmony, helping traders benefit from AMM-style swaps and greater portfolio visibility, respectively.
Dexalot is a central limit order book (CLOB) exchange that focuses on integrating more sophisticated features than a conventional DEX. The platform combines the simplicity of a DEX with the advanced trading tools of a CEX to ensure users enjoy an optimal experience.
Scheduled to launch today, SimpleSwap makes it possible for users to benefit from the tight spreads and excellent pricing of a CLOB, but with the look and feel of the AMM atomic swaps that are ubiquitous in DeFi.
Thanks to this feature, Dexalot traders can swap between tokens quickly and easily via a clean, uncluttered interface. This feature will complement the existing order book format.
When executing trades using SimpleSwap, traders can trade directly on the Dexalot platform or via third-party aggregators. Thanks to integration with multiple aggregators, Dexalot is making SimpleSwap available to users wherever they prefer to trade.
The feature will enable traders to enjoy the superior pricing that is synonymous with Dexalot, including unrivalled onchain pricing for assets such as WETH.e and BTC.b.
To boost the user experience of its platform, Dexalot is releasing SimpleView. This feature helps users check the status of their portfolio at a glance. Because traders typically have assets in various markets when using a CLOB exchange, it can be hard to keep track of tokens.
SimpleView eliminates this problem by making it easy for traders to determine their portfolio value and composition.
While commenting on this latest development, Berk Ozdogan, Head of Strategy at Dexalot, stated that;
“Simple Swap has the potential to become the perfect conduit for the most capital-efficient liquidity to get to traders. CLOB-style trading is the only way to trade in TradFi because of its capital efficiency, and this wasn't possible in Web3 until Dexalot. With Simple Swap, we now have the perfect atomic transaction capability without compromising on the quality of liquidity as AMMs and AMM variants do.”
Matthew Schmenk, BD at Ava Labs, added that;
“Dexalot's central limit order book architecture makes for some of the best swap pricing in all of blockchain, and with SimpleSwap, Dexalot should win a lot of swap routes and volumes.”
Dexalot has processed over 17 million transactions with a daily trading volume of up to $5M since it launched on its own Avalanche Subnet. The Dexalot team includes financial veterans with a background on Wall Street, whose experience has been brought to bear in developing Dexalot as the most advanced decentralized exchange of its kind.
Furthermore, Dexalot recently received $3m in incentives for users from Avalanche’s Multiverse Fund. Dexalot is a decentralized exchange that brings the traditional centralized exchange look and feel to a decentralized on-chain application. The Avalanche-powered Central Limit Order Book DEX represents an accessible and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk.