We are happy to present the first major QuipuSwap update for 2022. From now on, users have access to token-to-token transactions, swaps routing with the best exchange rate, interface improvements, and other useful changes. Read the full review in this article.
Interface
Let’s start with the most noticeable — the visual changes. As part of QuipuSwap’s web interface rebranding and UI/UX improvements, we have implemented a number of visual changes to the main sections of our DEX.
In addition to the selector for the day/night modes and the stylistic changes to the terminal, we have moved the main navigation to the left as a fixed menu. On our new menu, you will be able to connect your wallet, select the network, choose the protocol versions, and navigate through the different sections of QuipuSwap. The “More” tab will open access to the analytics, contract audits, help, and documentation pages.
The “Swap Details” tab has also undergone changes. In addition to displaying the price of selected assets in USD and % of the price impact, you can also see the exchange route of the tokens through specific pools.
Token-to-Token Exchange
One of the biggest protocol changes was the token-to-token swaps. As you probably know, our DEX previously used the formula TOKEN A→TEZ→TOKEN B to exchange one Tezos-built token for another. Now, QuipuSwap users have access to token-to-token pools in which anyone can create and add liquidity.
This will reduce the costs for token-to-token transactions slightly, but more importantly, the pool creation on the initial DEX version costs about 7.7 TEZ but with a token-to-token exchange, the price is drastically reduced to about 0.2 TEZ. It will significantly increase the exchange opportunities for projects and users. It will also become a good tool for rewarding liquidity providers in various external farming programs.
Multi-Hop Swaps
We also added multi-hop swaps – transaction routing in search of the best deal’s exchange rate. Thus, each swap will route through an arbitrary number of pools in order to get as many destination tokens as possible in exchange for the available ones.
You can see the best exchange route when filling out the terms of the transaction:
Moreover, the new protocol consumes smaller gas for token/token exchanges. For example, the swap through 4 pools costs ~0.003 TEZ meanwhile in the previous version the swap through 2 pools costs 2,5 times more.
Deadline
The last major innovation was the deadline function. Using this function, the user can set the maximum transaction execution time, which when reached, will cancel and revert the transaction. This is a good tool for controlling fees when the network is busy, as well as protecting against slippage at the time of the execution of the transaction or against other factors that affect the expected proportions of the exchange.
Follow the link to personally experience QuipuSwap’s innovations and new features.
Join our communities on Telegram and Discord, where you can ask questions and provide feedback to the developers, as well as stay up to date with the upcoming changes to the DEX and other MadFish products for the Tezos ecosystem!
