Slippage, MEV attacks, and failed transactions are no more, according to OKX chief innovation officer Jason Lau, thanks to the new functionality.
Exchange of virtual currency Gas-free trading is now possible on OKX’s DEX thanks to Uniswap Labs’ application programming interface (API), named “Snap.”
According to an interview with OKX COO Jason Lau, the functionality makes decentralized token exchanging easier. According to Lau, the OKX DEX now has access to the UniswapX protocol and liquidity thanks to the connection with Uniswap.
Lau described a new paradigm where liquidity providers pay the costs as the means by which integration enables no-fee swaps. The procedure, in his opinion, is user-friendly and might lead to cost savings. He elaborated:
“Since the liquidity providers will cover the gas cost, users don’t have to worry about paying them when they agree to a price off-chain, sign a transaction off-chain, then settle the transaction on-chain.”
Lau thinks the UniswapX protocol is a great addition to DeFi, as it gives consumers access to more liquidity. “The actual quantity of tokens they are quoted for” will be sent to users, according to Lau. Problems like failed transactions, slippages, and Maximal Extractable Value (MEV) bot attacks will be a thing of the past in the decentralized finance (DeFi) realm.
This launch is a part of their larger goal to provide their consumers access to “all on-chain use cases,” and according to Lau, it compliments their other solutions. In addition, he encouraged consumers to provide comments and expressed excitement about future development and feature additions.
In addition to doing away with gas costs via the API, OKX has announced that using the Multi-Injected Provider Discovery improvement on Ethereum, as outlined in the Ethereum Improvement Proposal (EIP)-6963, users of its wallet will now be able to locate their wallet inside the Uniswap interface.
Users of OKX wallets can link their wallets directly with Uniswap and engage in activities such as crypto swapping, trading nonfungible tokens (NFTs), joining liquidity pools, and developing decentralized applications (DApps). OKX emphasized that this is applicable to all browser extension wallets.
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