KuKuswap is a next-gen DEX designed to provide access to new tokens and a simplistic trading experience. The network incorporates the most popular DeFi protocol and a host of other benefits that make KuKuswap ideal for new and experienced investors alike. As such, the protocol is well positioned to become the top performing DEX on the KuCoin blockchain.
Notably, the developers behind the KuKuswap concept took inspiration from other top-performing DEXs in the market. Specifically, they stated that the Binance Smart Chain (BSC) DEX, PancakeSwap, was the platform they modeled KuKuswap after. This inspiration is evident in the similar features and streamlined interface.
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What Problems Does KuKuswap Attempt to Fix?
There are a lot of crucial issues that KuKuswap attempts to rectify. Primarily, the network helps to eliminate centralization in the DEX community. For the longest time, traders were relegated to Ethereum DEXs. Eventually, more options and networks ventured into the market, but for the most part, Ethereum and the BSC dominate the sector. Now, regular traders gain access to a powerful new network built from the ground up to simplify the top crypto features.
High Gas Fees
KuKuswap users enjoy much lower fees than Uniswap users. The main reason for these reduced costs is the technical structure of the platform. The KuCoin blockchain is less expensive to conduct transactions and execute smart contracts on. Consequently, users can save a bundle when they migrate to KuKuswap.
Scalability
Along the same lines of thought, scalability is another major advantage provided by KuKuswap. The KuCoin blockchain outperforms Ethereum in TPS rate and block production. Specifically, KuCoin produces blocks every 3 seconds. In comparison, it takes Ethereum around 13 seconds. This added scalability directly results in a more responsive and efficient user experience.
Features
Despite its simplistic layout, KuKuswap offers some top-notch benefits to users in the form of swaps and liquidity protocols. Also, the network enables developers to effortlessly migrate as all smart contracts are ERC-20 compatible. This decision was wise as Ethereum still dominates the DeFi sector in terms of applications and DEXs. Now, developers can expand their platforms to incorporate the KuCoin community without creating all new applications.
KuKuswap Mechanics
The KuKuswap exchange was designed to provide user access to the growing KuCoin ecosystem. The network operates on the KuCoin chain exclusively. As such, users gain access to an entirely new network of tokens, NFTs, and services. Here are just a few of the top features users enjoy when they switch over to KuKuswap.
Swap
Swap is the main feature offered to KuKuswap users. This DEX operates as an AMM (automated market maker). AMMs are very popular in the DeFi sector because they provide less slippage and faster trading times. This feature is very easy to use. The interface was designed to mimic other top-performing DEXs.
Uniquely, you have a lot of options when conducting swaps. Hit the gear in the top right corner of the trade window and you will open up features such as the adjustable slippage tolerance. You can also toggle on expert mode and disable multi-hops. Notably, the expert mode allows you to bypass confirmation models. This strategy enables high slippage trades for expert users.
Liquidity
KuKuswap also provides users with liquidity pools. A Liquidity pool is a large smart contract that users deposit funds into and in return, they receive rewards based on their participation level and time. Liquidity pools are an essential part of other top performing DEXs for multiple reasons. Primarily it’s because they provide more reliable and secure ROIs to users.
Using KuKuswap
If you are familiar with Uniswap or PancakeSwap, you will have no problem navigating KuKuswap. The platform was built from the start to simplify all the most vital DEX features. Consequently, there’s no previous experience required to start securing rewards and conducting trades on the network.
KuKuswap – The Next DeFi Ecosystem is Here
The DeFi race is heating up and this latest entry is just proof. KuCoin has long been an advanced blockchain with tons of potential. Now, the network has gained a powerful tool to help connect traders and developers in new ways. It will be interesting to see how KuKuswap accelerates Dapp development in the KuCoin ecosystem in the coming weeks. For now, you can join the KuKuswap movement here.