Nowswap is the industry’s first decentralized exchange protocol on the Ethereum mainnet featuring a low, dynamic transaction fee for small-size trades under $3,000, addressing the largest underserved part of DEX users. Currently, about half of the existing trading volume in leading platforms are orders under $3,000. Nowswap dramatically reduces the transaction fee for these trades from 0.3% in leading platforms and is poised to offer even lower rates as the platform grows.
Compared to current DEXs, Nowswap saves traders up to 50% for trades under $1,000 with 10% liquidity in the pools. The transaction fee is calculated based on the total value locked liquidity for the trading pair and trade size. As liquidity increases, the transaction fees decrease, which in turn attracts more liquidity providers to drive down the transaction fees even further.
Jason, the core developer of Nowswap, commented on the announcement:
“Decentralized finance users have been suffering from high transaction fees for swapping tokens for a long time. For small-size trades under $3,000, the transaction fees can sometimes be up to $9 at those incumbent DEXs. With Nowswap, users can save up to 60% in transaction fees and even less with more liquidity in the pool in the future.”
Users can try out Nowswap at its website. Currently, Nowswap is providing a bug bounty program of up to $100,000 in USD Coin (USDC) if any critical issue is reported via email to Nowswap. Nowswap plans to launch Nowswap XL sometime this year, which is another automated market maker DEX catered for large-size trades, and users can stay tuned by joining Nowswap’s Discord channel. The Nowswap team welcomes any community member who is interested in working together and building the Nowswap ecosystem. Developers, community managers, designers and ecosystem contributors are all welcome to talk to the team.
About Nowswap
Nowswap is a DEX featuring low transaction fees for small-size trades.
LinkedIn: https://www.linkedin.com/company/nowswap-protocol/
Website: https://nowswap.org/
Twitter: @nowswap_org