VeChain Foundation Welcomes New DEX To Its Ecosystem

VeChain’s ecosystem is growing and was recently able to deploy a decentralized exchange (DEX). ZumoSwap is a decentralized exchange (DEX) that was created to replace Vexchange. Vexchange has an automated market maker (AMM), and liquidity provision protocol.

| VeChain’s DEX To Launch Governance Token And Yield Farming Program

The team behind ZumoSwap posted a Medium message to address the question most VeChain users are asking: Why launch a new DEX when Vexchange already functions? According to ZumoSwap, there is “something that doesn’t feel right” about its competitor.

Vexchange may have higher fees, according to data presented by ZumoSwap. Vexchange now charges around 1% for slippage, which is significantly more than the 0.3% standard fee on Uniswap.

Therefore, ZumoSwap was created to meet users demand for a “native DEX” capable of providing them with an cost-efficient alternative and multiple features. According to the VeChain DEX team, the following was claimed:

After much thought, we decided to eliminate ALL Uniswap code and start from scratch. This project is a VeChain one, and not an Ethereum dApp.

The DEX should be able to integrate with “any wallets that VeChain provides” and operate with what the team called “one-click swap”. This will make the DEX more user-friendly and eliminate the requirement for two transactions in order to swap tokens.

ZumoSwap lets you approve exactly what you need and it does so within the same transaction as you swap. There are no more waiting for approvals. It’s fast and safe.

ZumoSwap is a Native VeChain Dex with many features

ZumoSwap is a new feature that will enable VeChain customers to trade tokens, transact and stay active. The post claims are prohibited on Ethereum, and in other rivals.

As users get price-out from platforms, protocols that were created to facilitate transactions become less accessible. In that sense, users will “always” be able to transact with a 0.3% slippage on ZumoSwap.

The platform has integrated an “Auto VTHO Farming” feature. Users will be able to preserve their VTHO yields, and supply VET to pools to provide liquidity to DEX. The team behind the project claimed there are “no additional actions required; you farm the VTHO like in your own wallet”.

ZumoSwap could be an option for users who want to earn more with their VETs and stay active in the VeChain community. ZumoSwap is also going to operate using a fee delegation method and will soon launch a ZUMO token.

Future updates will include detailed descriptions of the ZumoSwap native token, and tokenomics. The team behind the project revealed the following information about an airdrop.

The airdrop will work in the same way as Bitcoin. Details will be revealed in the next articles. The airdrop will be available to all Liquidity traders, liquidity providers, and X Node owners.

| VET breaks major trend line, why VeChain could see massive explosion

VeChain, (VET), trades at $0.091 and has made a 4.8% profit the day before.

VET with modest profits on the 4-hour chart Source: VETUSDT tradingview

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