Back to Antier Blog
How to Develop a Decentralized Coin or Token Supported DeFi Wallet
May 2, 2022
An In-depth Insight into NFT Fighting Game Development
May 6, 2022
Table of Contents
Introduction:
Last year, the crypto adoption touched a milestone when it reached around 295 million worldwide users in December 2021. The latest report by one of the most cited sources anticipates that the number of crypto users worldwide will surpass the 10-digit number by the end of 2022. The favorable stance of finance and other industries towards crypto and other blockchain-based innovations also signals a chance of crypto adoption only soaring in the future. Centralized, as well as decentralized finance exchange platforms, have experienced enormous hikes in trading volumes over the last few months.
Decentralized exchanges (DEXs) were a prominent thing last year due to their wide usage. A report by “The Block” reveals that the trading volume of decentralized exchanges surpassed $1 Trillion in 2021. Since they commit to offering liberty from third-party intervention, they attract a huge crypto user base
What is a Decentralized Finance Exchange?
Decentralized exchanges are peer-to-peer trading platforms where traders buy or sell digital assets without giving custody of funds in hands of an intermediary. To facilitate the transactions, decentralized exchanges make use of self-executing agreements known as smart contracts, usually coded by a dedicated DEX exchange developer team.
The trading platform links buyers and sellers directly and eradicates the need for an authority to authorize or monitor trades performed on the decentralized exchange platform.
Working of Decentralized Exchange Software
Decentralized exchange platforms are developed on blockchain networks that support smart contracts. The exchange price of one cryptocurrency against another is determined algorithmically. Decentralized exchanges employ pre-funded asset pools known as liquidity pools (where investors lock funds to earn rewards/interests) to facilitate trades.
Unlike the case of centralized exchanges that record transactions on an internal database, decentralized exchange software solutions settle and record transactions directly on their blockchain networks.
Develop Your own DeFi Exchange
Schedule Free DemoPopular Types of DEXs
- Automated Market Makers based DEXs
- Order book DEXs
- DEX aggregators
The automated market markers (also known as AMM) systems make use of blockchain-based services known as blockchain oracles for extracting information from other exchanges and platforms to determine the price of traded assets. These decentralized finance exchanges fulfill orders using the liquidity pools; therefore, they rely on the total value locked (TVL).
Order books perform the function of compiling the entire buy and sell orders that an exchange receives for various asset pairs. The difference between the buy and sell prices decides the depth of the order book and the market price of assets on the exchange. There are two types of order book DEXs – on-chain order book DEXs and off-chain order book DEXs.
DEX aggregators aggregate liquidity from different DEXs (or specific centralized exchanges) to reduce the chances of slippage on large orders and optimize trade fees and asset prices. These platforms give quick price estimates and allow users to trade assets at the best price in the minimum possible time.
What is a Decentralized Exchange Script?
A decentralized exchange script is a rigorously tested ready-made script that a technology provider can deploy to your DEX platform. It can be customized as per your needs and can help you to launch your exchange quickly, and in a cost-effective manner.
Top 10 decentralized cryptocurrency exchange scripts of 2022
Here’s the list of top 10 DEX scripts that anyone planning to launch their decentralized exchange must know about:
- Uniswap Clone Script
- PancakeSwap Clone Script
- MDEX Clone Script
- SushiSwap Clone Script
- BakerySwap Clone Script
- 1inch Exchange Clone Script
- SushiSwap Clone Script
- QuickSwap Clone Script
- DyDx Clone Script
- Curfi.fi Clone Script
Uniswap is one of the leading DEX platforms built on the Ethereum blockchain that allows users to trade ERC20 tokens without third-party intervention. Uniswap clone script allows businesses to create DEX exchange like Uniswap.
PancakeSwap is an AMM-based decentralized exchange platform allowing customers to swap BEP20 tokens directly. PancakeSwap clone script is a ready-to-deploy trading script built on Binance Smart Chain that helps businesses launch a DEX like PancakeSwap.
MDEX is the largest decentralized exchange platform in the world that delivers a dynamic user experience to crypto traders by extending the list of its offerings and enabling a simple user interface. MDEX clone script helps businesses launch MDEX-like decentralized finance exchange in a few days.
SushiSwap tops the list of deliciously themed decentralized exchanges. Those looking to build decentralized exchanges like SushiSwap can launch their exchanges instantly using SushiSwap clone scripts.
BakerySwap is an exclusive DeFi platform that offers users an AMM-based DEX and an incredible NFT marketplace in one place. Those businesses interested to launch into the world of crypto and NFTs altogether can make use of the BakerySwap clone script to accelerate their decentralized exchange development.
1inch is a decentralized exchange aggregator that allows crypto traders to find the lowest prices for crypto assets. Anyone looking to build a miraculous decentralized exchange like 1inch can leverage this decentralized cryptocurrency exchange script to launch their exchange platform instantly.
Get Obligation Free Quote
[widget id=”custom_html-3″]
ParaSwap is another DEX aggregator that leads the DeFi ecosystem with its zero transaction fee and in-house liquidity pool system. Those fascinated by its exclusive abilities can set up a decentralized exchange like ParaSwap with ParaSwap Clone Script.
QuickSwap is a next-gen decentralized exchange based on Ethereum, driven by the Layer 2 scalability infrastructure of the Polygon Network. QuickSwap enables users to trade ERC20 tokens at lightning-fast speed and almost zero gas fees. QuickSwap clone script is an ideal solution for those who wish to build cost-effective and fast decentralized exchange effortlessly.
DyDx is an Ethereum-based non-custodial decentralized exchange that features utter security and transparency of a decentralized exchange along with breakneck speed and usability of a centralized exchange. DyDx clone script is one of the most desired DEX scripts due to its exclusive features
Curve finance is one of the leading decentralized exchanges built on the Ethereum blockchain, topping the charts in terms of the trading volume. Businesses that are interested to launch a similar platform that allows ultra-fast and cost-efficient transactions must invest in Curfi.fi clone scripts.
How to select the best DEX script to create DEX exchange?
Here are some of the important things that you must consider while choosing a decentralized trading script for your business
- Make sure that the exchange platform does not have a complicated registering process.
- Inquire if customizations or more integration can take place in the existing DeFi exchange script or not.
- Consider a decentralized exchange script that allows multiple crypto pairs to be traded on the platform.
- Affordability is one of the major reasons why customers prefer decentralized exchanges over centralized ones. So, the decentralized crypto trading script you choose must feature affordable transactions.
- Make sure that the decentralized exchange platform that you wish to replicate is 100% decentralized and control of funds is completely in hands of traders.
- Ask the provider if they offer rigorously a tested and proven decentralized cryptocurrency exchange script.
- Remember that people choose decentralized exchanges for utter security offered by them. Don’t forget to check if the decentralized crypto exchange script is fortified with industry-approved security features.
- Mobile-friendliness is one of the key features of any crypto platform as people prefer operating all the platforms on the handy device. Remember to check this feature in your decentralized crypto exchange script.
- Make sure that the decentralized exchange clone script that you have chosen to build your decentralized exchange software like must be easy to use.
Future of decentralized exchange platforms
Even though centralized exchanges account for a great proportion of market activity, the growth of DeFi has aggravated the need for decentralized exchange protocols. Overwhelming volumes of high-flying DeFi exchange platforms like Curve, Uniswap, PancakeSwap, etc. have demonstrated that crypto customers are inclined towards user-friendly exchange platforms that operate on liquidity pools and not order books. Considering that DeFi is still in its nascent stage and the DEX market still has to mature, we can conclude that the emergence of new protocols and mechanisms is only likely to explode in the coming years.
Why buy a ready-made decentralized exchange script from Antier?
Utilizing replicas of prominent decentralized exchange software solutions can help businesses to a great extent. Here are some of the business benefits of leveraging impactful decentralized crypto exchange scripts:
- Cost-effective solution
- Quality product development within less time
- Extended market reach
- Scalable solutions
- 150+ cryptocurrency support
- Rapid brand recognition
- Enhanced productivity with multi-API integration
- Customization benefits
Do you still have questions in your mind regarding decentralized cryptocurrency exchange script solutions? If so, bring your queries to Antier Solutions as we are one of the technology providers leveraging our expertise in blockchain development to deliver world-class consultancy solutions to businesses in diverse industries worldwide. We offer robust decentralized trading scripts to help businesses excel in decentralized exchange development.
Schedule a call with our subject matter experts today to discuss further.
