Swaperry is a decentralized exchange (DEX) designed to be highly performant, transparent and feature-riched to asset traders. It is built on top of the Polkadot ecosystem, which aims to offer scalability, noticeably faster transactions and cheaper fees.
What problems do Swaperry solve?
2 types of exchanges currently exist on the market. Centralized exchanges (CEX) are traditional exchanges, powered by an off-chain system, and usually enable asset trading via orderbooks. Decentralized exchanges (DEX) are a new form of exchange that have been gaining popularity recently. Their decentralized architecture allows users to trade in a non-custodial, secured, and anonymous manner. Most popular DEXes employ an automatic-market-maker (AMM) approach to facilitate trading, as opposed to orderbooks.
While DEXes saw huge increase in usage the past few years, CEXes are still producing most of the trading volumes, because DEXes come at a price: 1) transactions are often delayed and slow, 2) most DEXes do not offer cross-chain trading, 3) user interface is more confusing, 4) advanced features like options, limits and margins, are non-existent.
Swaperry aims to be the next generation of DEXes, by solving all those 4 limitations. Taking advantage of Polkadot, a blazing fast & cost-effective parachain ecosystem, Swaperry employs intelligent algorithms and optimization techniques that make trading feel comparable to that of CEXes. Ultimately, it sets an ambitious but achievable goal to show the world that CEX is the past and DEX is the future.