The NEAR ecosystem is rapidly expanding; each project on the platform attracts additional users and developers who can benefit from the ecosystem’s technologies. With a transaction cost of $0.1 and a transaction processing speed of 100,000 transactions per second. NEAR is a great place to start deploying decentralized exchanges. On the NEAR platform and its EVM -AURORA, roughly 9 DEX projects are now functioning. The top five DEX projects on the NEAR ecosystem are listed here.
Ref Finance
Ref Finance is one of the most important projects in the NEAR Protocol’s DeFi ecosystem. The major purpose is to combine DEX, lending protocol, and synthetic assets into a unified DeFi platform. Decentralized exchange and StableSwap are the company’s major products at the moment.
Ref Finance wants to bring DeFi closer to everyone by leveraging NEAR’s 1-2 second precision, cheap cost, and user-friendly and interoperable architecture.
Outstanding Features of Ref Finance
Most AMMs have similar mechanics and are similar to Uniswap V2, but Ref Finance provides customers with additional benefits, including:
- Through the Rainbow Bridge, which connects to the Ethereum platform, users will be able to swap tokens from other platforms. Recently, Ref released Multichain Liquidity Aggregator, which allows users to use AURORA liquidity to swap tokens on NEAR without leaving the Ref UI.
- Users can simply exchange any token pair using a smart contract that maintains different pools. Let’s imagine you only have the NEAR/USDT and USDT/USDC pools and wish to exchange the NEAR/USDC pair. To swap according to your requirements, simply enter NEAR and USDC into the token pair to be swapped, and Ref Finance will do the rest for you.
- Swap fees in the pool can also be modified, allowing liquidity providers to charge a greater or lower transaction fee depending on their needs.
- Developers who create dApps that connect to Ref Finance’s AMM DEX protocol can earn commissions.
- The REF token, which will be reserved for liquidity providers, developers, and consumers, will power Ref Finance.
- Ref also offers a Stableswap platform that let users can convert tokens like USDT, USDC, and USDT. On Ethereum, this is essentially the same feature as Curve.
REF Token Use Case
- Pay transaction fees: Users will be required to pay transaction fees in REF tokens (0.1%). Part of the profits from transaction fee collection will be returned to the holders.
- Reward: REF will be used as a form of compensation to encourage LPs to give liquidity to the protocol.
- Governance: REF holders can vote on transaction fees, token burn, project development expenditures, and other project development suggestions before they are put to a vote.
- Staking: Users can stake REF to receive Staking rewards (11%) and Token xREF, which represents REF tokens staked in the pool.
Jumbo Exchange
Jumbo is intended to be the most user-friendly exchange possible, with the goal of removing the frequent challenges that consumers face when navigating Decentralized Exchanges.
Jumbo functions flawlessly because of several components of the NEAR Blockchain and proprietary algorithms, which means that each engagement with the exchange is accompanied by immediate visual feedback and relevant instructions.
Jumbo Exchange is also the first and only DEX equipped with anti-money laundering capabilities thanks to its integration with HAPI’s on-chain security.
Outstanding Features of Jumbo Exchange
- Swap is functionality that any DEX should have. Jumbo employs a method that combines a swap mechanism with an incentive mechanism to compensate customers for trading fees by providing liquidity.
- Liquidity Pool: Jumbo implements a simple and easy toolkit that allows users to construct their own liquidity pools for any token, allowing project tokens to be traded on Jumbo’s DEX with ease. Without the approval of a third party, anyone can construct their own Liquidity Pool.
- Switching Pools Quickly: The user experience is very important to Jumbo. Thanks to NEAR Blockchain’s consistent gas charge architecture, the quick pool switch feature is a very valuable tool for facilitating increased revenues from each Liquid Pool by swiftly switching to the most profitable Pool. To convert to another Pool, simply click a button and your existing LP tokens will be transferred to the new pool.
- Smart Pools: Smart Pools are algorithm-based systems that allow a simple way to provide liquidity with the goal of uniform liquidity distribution among Pools, spotting the most potential opportunities for liquidity provisioning. The simple interface will help users to detect the most promising pools.
- Jets: Jets show the most promising pools based on the correlation between Transaction Volume and Liquidity. Jets’ intuitive interface aids in the discovery of pools and their ratings.
- Slippage Optimization: When there is a lack of liquidity, slippage occurs when the projected price and the actual transaction price diverge. Slippage is particularly common when the market or the liquidity pool are both volatile. Creating a market with appropriate liquidity and volume is one of the most effective approaches to combat high slippage. For Jumbo, the project incorporates all of the above components to make switching between pools easier, hence assisting in the homogenization of liquidity pools and the reduction of price slippage.
- Anti-Money Laundering (AML): Jumbo Exchange accomplished this by focusing on KYT (Know Your Transaction) rather than KYC on a decentralized AML solution rather than a centralized one. Essentially, Jumbo Exchange’s KYT is decentralized, does not compromise an individual’s financial privacy, and is entirely adjustable by Jumbo Exchange’s administration. Jumbo Exchange has partnered with HAPI and employs HAPI’s anti-money laundering software. Before reaching Jumbo Exchange, all transactions must pass via HAPI.
JUMBO Token Use Case
In essence, there are two key usage cases for the JUMBO token: governance and incentive.
- Governance: lets members of the community have a say in the project’s progress by providing suggestions and voting.
- Incentivize: activities frequently include the community and broaden the project’s reach. The distribution of tokens through various incentive events or collaboration with third parties who have a favourable impact on the project are examples of this.
Trisolaris
Trisolaris is a community-owned first decentralized exchange on AURORA with a fast settlement, low fees, and democratic governance.
In addition, not only acting as a mere DEX, Trisolaris also integrates the Bridge of Ethereum and Near, so users who want to interact with Trisolaris will not need to go to any Bridge project.
Outstanding Features of Trisolaris
- Swap: Simple swap interface; user-friendly, extremely low transaction fees (almost 0), and lightning-fast transaction processing speed in. Liquidity Providers (“LPers”) give their tokens to the pool for the exchange’s provisioning of liquidity. Customers receive LP tokens in exchange, which may be used to stake TRI tokens in Pool Farming.
- Liquidity Pools: Trisolaris charges 0.3% on all trades, of which 0.25% is added to the liquidity pool of the traded token pair. A liquidity pool (LP) is a pool of two tokens.
- Farm: Liquidity providers can add their own LP tokens to the Farming feature. Additional profits are rewarded with TRI.
- Staking: Users can take TRI to Stake instead of providing liquidity. The benefit of staking is that users will receive a fixed amount of profit but do not bear the risk of Impermanent Loss.
TRI Token Use Case
- Governance: TRI Holder will be able to vote on proposals to manage the Trisolaris ecosystem and its development. This includes fund management decisions, liquidity incentives, and fee distribution adjustments.
- Fee Distribution: Trisolaris DEX currently has a protocol fee of 0.3% for swaps distributed to liquidity providers.
WannaSwap
WannSwap is one of the first AMM DEXs built on the Aurora EVM of the NEAR blockchain, with the goal of becoming Aurora’s liquidity hub.
At the time of launch, not too many people noticed and knew, IDO was at $ 0.05, sold out within a few hours, but the project team and many right strategies created an incredible ROI rate. same great, ATH WANNA price up to 3.2$, very impressive ROI: 6400%
Aurora was created in this environment with the goal of serving as a link between Near and Ethereum in order to bring developers, users, and financial flow to the Near ecosystem.
WannaSwap’s purpose is to be a pioneer project, inviting cash flow to NEAR, by becoming one of the first DEX platforms based on Near’s Aurora EVM.
Begin by concentrating on establishing a solid Defi platform, which is a crucial and necessary component of any ecosystem. The project’s goal will always be to improve both the advantages and the user experience. WannaSwap is dedicated to exploring new and inventive directions in its development roadmap to keep up with the crypto world’s progress.
The project’s ultimate goal is to optimize user benefits, create a whole ecosystem on Near, and help to the growth of the crypto market – to become a trustworthy liquidity hub on Aurora.
Outstanding Features of WannaSwap
WannaSwap, like other DEXs, has a lot of basic features:
- Swap: Token exchange is referred to as a swap. WannaSwap will charge a fee of 0.2% per transaction (0.17% will go to liquidity providers – Liquidity providers, the remaining 0.03% will go to staking brothers).
- Farm: Stake token into liquidity pool to receive LP token, then farm with LP Token to receive WANNA reward and 0.17% transaction fee.
- Staking: Stake WANNA Token to receive WANNA rewards and a 0.03% transaction fee.
WANNA Token Use Case
Currently, you can use WANNA tokens for staking or farming.
Rose.Fi
Rose.fi is a system for the liquidity of value equivalent assets on Aurora, which includes a stablecoin and wrapped assets trade, as well as CDP-based stablecoins based on interest-bearing tokens. collateral.
Rose’s core product is Stablecoin Transfer, which allows users to swap stable currencies with extremely low slippage. Farms and Stake follow closely behind.
Outstanding Features of Rose fi
- Stablecoin swap: The first product is stableswap the first decentralized automated marketplace (AMM) exchange on Aurora to trade fixed assets like stablecoins and wrapped tokens against each other with low slippage and transaction fees minimal translation. In other exchanges when users swap 10000 USDC can get 9994 USDT. With Rose’s Stableswap, the slippage is less than $1.
- Farming: Similar to other Dex, users can use their LP token to go farming after providing liquidity. Because the collaterals are largely stablecoins, the liquidity provision on Rose fi will not suffer a temporary loss.
- Staking: To get stROSE benefits, users will mortgage assets in ROSE tokens. The stROSE token grants users administrative rights while also earning a piece of the protocol’s earnings.
- Borrow: Users can borrow RUSD by locking ROSE tokens or stablecoins like USDC, FRAX, etc. in order to engage in ecosystem activities.
- Bridge: The Rainbow Bridge and AllBridge protocols can now be used to transfer assets on Rose fi.
ROSE Token Use Case
ROSE is used as an incentive for the user.
Verdict
The Dex stack on NEAR is currently modest in comparison to other blockchains. DEXs based on NEAR, on the other hand, have the advantage of being a latecomer, thus they can overcome the problems that other AMM DEX initiatives are having.
Because the AMM segment has a modest number of initiatives and the NEAR ecosystem is only getting started. Developers who construct better optimized DEX programs will be able to gain greatly from the money flooding into NEAR.
Find more information about: NEAR
Website: https://near.org/
Ref Finance: https://www.ref.finance/
Jumbo Exchange: https://jumbo.exchange/
Trisolaris: https://www.trisolaris.io/#/swap
WannaSwap: https://wannaswap.finance/en/home
Rose.fi: https://rose.fi/
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Ken.N
Coincu Ventures
Author
DeFi
TOP 5 DEX on NEAR with numerous prospects in 2022
The NEAR ecosystem is rapidly expanding; each project on the platform attracts additional users and developers who can benefit from the ecosystem’s technologies. With a transaction cost of $0.1 and a transaction processing speed of 100,000 transactions per second. NEAR is a great place to start deploying decentralized exchanges. On the NEAR platform and its EVM -AURORA, roughly 9 DEX projects are now functioning. The top five DEX projects on the NEAR ecosystem are listed here.
Ref Finance
Ref Finance is one of the most important projects in the NEAR Protocol’s DeFi ecosystem. The major purpose is to combine DEX, lending protocol, and synthetic assets into a unified DeFi platform. Decentralized exchange and StableSwap are the company’s major products at the moment.
Ref Finance wants to bring DeFi closer to everyone by leveraging NEAR’s 1-2 second precision, cheap cost, and user-friendly and interoperable architecture.
Outstanding Features of Ref Finance
Most AMMs have similar mechanics and are similar to Uniswap V2, but Ref Finance provides customers with additional benefits, including:
- Through the Rainbow Bridge, which connects to the Ethereum platform, users will be able to swap tokens from other platforms. Recently, Ref released Multichain Liquidity Aggregator, which allows users to use AURORA liquidity to swap tokens on NEAR without leaving the Ref UI.
- Users can simply exchange any token pair using a smart contract that maintains different pools. Let’s imagine you only have the NEAR/USDT and USDT/USDC pools and wish to exchange the NEAR/USDC pair. To swap according to your requirements, simply enter NEAR and USDC into the token pair to be swapped, and Ref Finance will do the rest for you.
- Swap fees in the pool can also be modified, allowing liquidity providers to charge a greater or lower transaction fee depending on their needs.
- Developers who create dApps that connect to Ref Finance’s AMM DEX protocol can earn commissions.
- The REF token, which will be reserved for liquidity providers, developers, and consumers, will power Ref Finance.
- Ref also offers a Stableswap platform that let users can convert tokens like USDT, USDC, and USDT. On Ethereum, this is essentially the same feature as Curve.
REF Token Use Case
- Pay transaction fees: Users will be required to pay transaction fees in REF tokens (0.1%). Part of the profits from transaction fee collection will be returned to the holders.
- Reward: REF will be used as a form of compensation to encourage LPs to give liquidity to the protocol.
- Governance: REF holders can vote on transaction fees, token burn, project development expenditures, and other project development suggestions before they are put to a vote.
- Staking: Users can stake REF to receive Staking rewards (11%) and Token xREF, which represents REF tokens staked in the pool.
Jumbo Exchange
Jumbo is intended to be the most user-friendly exchange possible, with the goal of removing the frequent challenges that consumers face when navigating Decentralized Exchanges.
Jumbo functions flawlessly because of several components of the NEAR Blockchain and proprietary algorithms, which means that each engagement with the exchange is accompanied by immediate visual feedback and relevant instructions.
Jumbo Exchange is also the first and only DEX equipped with anti-money laundering capabilities thanks to its integration with HAPI’s on-chain security.
Outstanding Features of Jumbo Exchange
- Swap is functionality that any DEX should have. Jumbo employs a method that combines a swap mechanism with an incentive mechanism to compensate customers for trading fees by providing liquidity.
- Liquidity Pool: Jumbo implements a simple and easy toolkit that allows users to construct their own liquidity pools for any token, allowing project tokens to be traded on Jumbo’s DEX with ease. Without the approval of a third party, anyone can construct their own Liquidity Pool.
- Switching Pools Quickly: The user experience is very important to Jumbo. Thanks to NEAR Blockchain’s consistent gas charge architecture, the quick pool switch feature is a very valuable tool for facilitating increased revenues from each Liquid Pool by swiftly switching to the most profitable Pool. To convert to another Pool, simply click a button and your existing LP tokens will be transferred to the new pool.
- Smart Pools: Smart Pools are algorithm-based systems that allow a simple way to provide liquidity with the goal of uniform liquidity distribution among Pools, spotting the most potential opportunities for liquidity provisioning. The simple interface will help users to detect the most promising pools.
- Jets: Jets show the most promising pools based on the correlation between Transaction Volume and Liquidity. Jets’ intuitive interface aids in the discovery of pools and their ratings.
- Slippage Optimization: When there is a lack of liquidity, slippage occurs when the projected price and the actual transaction price diverge. Slippage is particularly common when the market or the liquidity pool are both volatile. Creating a market with appropriate liquidity and volume is one of the most effective approaches to combat high slippage. For Jumbo, the project incorporates all of the above components to make switching between pools easier, hence assisting in the homogenization of liquidity pools and the reduction of price slippage.
- Anti-Money Laundering (AML): Jumbo Exchange accomplished this by focusing on KYT (Know Your Transaction) rather than KYC on a decentralized AML solution rather than a centralized one. Essentially, Jumbo Exchange’s KYT is decentralized, does not compromise an individual’s financial privacy, and is entirely adjustable by Jumbo Exchange’s administration. Jumbo Exchange has partnered with HAPI and employs HAPI’s anti-money laundering software. Before reaching Jumbo Exchange, all transactions must pass via HAPI.
JUMBO Token Use Case
In essence, there are two key usage cases for the JUMBO token: governance and incentive.
- Governance: lets members of the community have a say in the project’s progress by providing suggestions and voting.
- Incentivize: activities frequently include the community and broaden the project’s reach. The distribution of tokens through various incentive events or collaboration with third parties who have a favourable impact on the project are examples of this.
Trisolaris
Trisolaris is a community-owned first decentralized exchange on AURORA with a fast settlement, low fees, and democratic governance.
In addition, not only acting as a mere DEX, Trisolaris also integrates the Bridge of Ethereum and Near, so users who want to interact with Trisolaris will not need to go to any Bridge project.
Outstanding Features of Trisolaris
- Swap: Simple swap interface; user-friendly, extremely low transaction fees (almost 0), and lightning-fast transaction processing speed in. Liquidity Providers (“LPers”) give their tokens to the pool for the exchange’s provisioning of liquidity. Customers receive LP tokens in exchange, which may be used to stake TRI tokens in Pool Farming.
- Liquidity Pools: Trisolaris charges 0.3% on all trades, of which 0.25% is added to the liquidity pool of the traded token pair. A liquidity pool (LP) is a pool of two tokens.
- Farm: Liquidity providers can add their own LP tokens to the Farming feature. Additional profits are rewarded with TRI.
- Staking: Users can take TRI to Stake instead of providing liquidity. The benefit of staking is that users will receive a fixed amount of profit but do not bear the risk of Impermanent Loss.
TRI Token Use Case
- Governance: TRI Holder will be able to vote on proposals to manage the Trisolaris ecosystem and its development. This includes fund management decisions, liquidity incentives, and fee distribution adjustments.
- Fee Distribution: Trisolaris DEX currently has a protocol fee of 0.3% for swaps distributed to liquidity providers.
WannaSwap
WannSwap is one of the first AMM DEXs built on the Aurora EVM of the NEAR blockchain, with the goal of becoming Aurora’s liquidity hub.
At the time of launch, not too many people noticed and knew, IDO was at $ 0.05, sold out within a few hours, but the project team and many right strategies created an incredible ROI rate. same great, ATH WANNA price up to 3.2$, very impressive ROI: 6400%
Aurora was created in this environment with the goal of serving as a link between Near and Ethereum in order to bring developers, users, and financial flow to the Near ecosystem.
WannaSwap’s purpose is to be a pioneer project, inviting cash flow to NEAR, by becoming one of the first DEX platforms based on Near’s Aurora EVM.
Begin by concentrating on establishing a solid Defi platform, which is a crucial and necessary component of any ecosystem. The project’s goal will always be to improve both the advantages and the user experience. WannaSwap is dedicated to exploring new and inventive directions in its development roadmap to keep up with the crypto world’s progress.
The project’s ultimate goal is to optimize user benefits, create a whole ecosystem on Near, and help to the growth of the crypto market – to become a trustworthy liquidity hub on Aurora.
Outstanding Features of WannaSwap
WannaSwap, like other DEXs, has a lot of basic features:
- Swap: Token exchange is referred to as a swap. WannaSwap will charge a fee of 0.2% per transaction (0.17% will go to liquidity providers – Liquidity providers, the remaining 0.03% will go to staking brothers).
- Farm: Stake token into liquidity pool to receive LP token, then farm with LP Token to receive WANNA reward and 0.17% transaction fee.
- Staking: Stake WANNA Token to receive WANNA rewards and a 0.03% transaction fee.
WANNA Token Use Case
Currently, you can use WANNA tokens for staking or farming.
Rose.Fi
Rose.fi is a system for the liquidity of value equivalent assets on Aurora, which includes a stablecoin and wrapped assets trade, as well as CDP-based stablecoins based on interest-bearing tokens. collateral.
Rose’s core product is Stablecoin Transfer, which allows users to swap stable currencies with extremely low slippage. Farms and Stake follow closely behind.
Outstanding Features of Rose fi
- Stablecoin swap: The first product is stableswap the first decentralized automated marketplace (AMM) exchange on Aurora to trade fixed assets like stablecoins and wrapped tokens against each other with low slippage and transaction fees minimal translation. In other exchanges when users swap 10000 USDC can get 9994 USDT. With Rose’s Stableswap, the slippage is less than $1.
- Farming: Similar to other Dex, users can use their LP token to go farming after providing liquidity. Because the collaterals are largely stablecoins, the liquidity provision on Rose fi will not suffer a temporary loss.
- Staking: To get stROSE benefits, users will mortgage assets in ROSE tokens. The stROSE token grants users administrative rights while also earning a piece of the protocol’s earnings.
- Borrow: Users can borrow RUSD by locking ROSE tokens or stablecoins like USDC, FRAX, etc. in order to engage in ecosystem activities.
- Bridge: The Rainbow Bridge and AllBridge protocols can now be used to transfer assets on Rose fi.
ROSE Token Use Case
ROSE is used as an incentive for the user.
Verdict
The Dex stack on NEAR is currently modest in comparison to other blockchains. DEXs based on NEAR, on the other hand, have the advantage of being a latecomer, thus they can overcome the problems that other AMM DEX initiatives are having.
Because the AMM segment has a modest number of initiatives and the NEAR ecosystem is only getting started. Developers who construct better optimized DEX programs will be able to gain greatly from the money flooding into NEAR.
Find more information about: NEAR
Website: https://near.org/
Ref Finance: https://www.ref.finance/
Jumbo Exchange: https://jumbo.exchange/
Trisolaris: https://www.trisolaris.io/#/swap
WannaSwap: https://wannaswap.finance/en/home
Rose.fi: https://rose.fi/
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Ken.N
Coincu Ventures
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