Centralized exchanges are often the subject of controversy. $200 million of customer funds stolen from Ku-coin in 2020! 119,756 BTC lifted from Bitfinex in 2016! And who could forget the original, infamous CEX, Mt. Gox, being robbed of a whopping 850,000 BTC in February of 2014; 750,000 of those belonged to Mt. Gox customers. The bottom line is that if you trade on a centralized exchange, you don’t own it until it is withdrawn.
“Centralized exchanges are subject to a tremendous number of problems simply because they contravene one of the cardinal laws of cryptocurrency — the owner of the private key is also the owner of the asset.” -Miko Matsumura, Cofounder Evercoin Exchange
With the explosion of DE-FI and the proliferation of ERC-20 tokens into the Ethereum network, decentralized exchanges such as Balancer, Uniswap, and Kyber have taken center stage with Uniswap bringing in a massive haul of ~$9.5 billion in trading volume in the month of October.
The main issue with DEXs is that liquidity pools can be unreliable. With liquidity being provided by users and independent project teams. If tokens are withdrawn from the pool or moved to a different pool, the trading experience of users suffers. Additionally, this can cause dramatic volatility and price slippage, or even a total loss (rug-pull). It is almost impossible to be able to always find the best price and platform to trade your tokens on.
These issues make many people continue to use centralized exchanges because of the many tools they provide to traders. Order books allow traders to strategize and be more precise with their speculation. DEXKIT has a number of tools that will bring the enhanced usability of CEXs to decentralized exchanges!
DEXKIT’s swap aggregator is a swapping platform that scans 13 of the most popular decentralized exchanges to ensure that you are always getting the best price with the most reliable liquidity. It uses a familiar Uniswap-like interface that is easy to use and understand.
DEXKIT knows that it is important that swaps are made quickly and seamlessly. This is why the aggregator is so useful. Imagine how much time and money you will save when you employ DEXKIT’s technology to help you complete trades while limiting the risks associated with using decentralized exchanges. Almost everyone who has used a decentralized platform knows the frustration that comes with missing a trade by minutes or even seconds. With the aggregator, you can easily find the best value and make profitable trades quickly!
Try the swap aggregator here!
Every trader wants to make the most informed decision possible when investing. DEXKIT is working to give users of its platform all of the TOOLS needed to be profitable. The DEXKIT toolkit has many features planned that go far beyond the swap aggregator and will allow DEX users to:
The token allocation is as follows:
KIT Token has the following utility upon launch with more features planned for the future:
The future is bright for DEXKIT. The project is accomplishing what it set out to do by providing users with unique and valuable tools that aren’t available anywhere else. Working in tandem, the aggregator, exchange, NFT marketplace, and dashboard will give tool owners and users confidence and security resulting in greater control of their portfolio and trades. Subscribe to our social media channels so you can keep up with the latest news!
Make sure to check out our FAQ page and get the latest information about DexKit from our bi weekly LIVE community updates on our Youtube channel where we announce giveaways, promotions, partnerships, and platform developments. You can also find us on Telegram to chat with the team, community and check out our social media pages from the list at the bottom of the page.