Say hello to the number one decentralised exchange aggregator — 1Inch Exchange, as Dentacoin becomes available for trading on the platform.
About 1Inch Exchange
Above anything else, 1Inch’s goal is to assist users with the price discoverability of their preferred token. Therefore the way it works is different from a classical dEx offering with a single liquidity pool — it will rather aggregate the offerings from various decentralised exchanges into one, thus suggesting the best possible price for a successful token swap.
To do this 1inch uses an in-house discovery and routing algorithm called Pathfinder. The same algorithm lies at the core of the exchange’s offering, by comparing token prices across other dExes and DeFi platforms, such as Uniswap, Curve, Balancer, Sushiswap, and others. This results in an efficient and optimised offering in terms of price, fees, and liquidity.
How to Trade Dentacoin on 1Inch
Step 1: Сonnecting your wallet
- Visit the exchange at https://1inch.exchange/
- Connect your wallet by clicking the “Connect Wallet” button in the top right corner of the screen
- Choose your wallet provider in the popup and then press the “Connect” button
Upon successful connection of your wallet, your address will become visible at the top right corner of the page, replacing the “Connect Wallet” button. To check your transaction history, copy the address, or disconnect the wallet, please press the button again.
Step 2: Selecting Settings
To move forward with a swap, first, select Dentacoin:
In the panel, there are additional settings, which allows you to choose between maximum return and lowest gas cost. With the maximum return option, the Pathfinder algorithm will utilise more complex routes to complete your transaction, making sure you get the best possible rate at the expense of gas costs. This is best suited for larger transactions, where the potential gain from price ratio easily offsets the additional transaction fees.
On the other hand, the lowest gas cost option will deliver the shortest possible route to prevent you from spending high amounts of gas for the swap. If you have a smaller-sized transaction this should be your preferred method, as high gas prices can easily offset your bottom-line.
Step 3: Commit the Swap
These were all the steps you needed to conduct the swap. If you are happy with the settings just press the “Swap” button and wait for your transaction to process.
So now that you are well aware of the opportunities that 1Inch can bring, in terms of price discoverability and efficient gas costs are you ready to try it for yourself? Hop on to the website and start trading now:
Originally published at Official Dentacoin (DCN) Blog | Dentacoin Foundation.
