Decentralized crypto trading platforms offer the best of what blockchain represents. The ability to trade and swap in a completely decentralized environment without the need for any controlling authority is what the technology is all about. Thanks to the ability of smart contracts, this is now a very mature market with more than $85 billion in locked value.
But the majority of these DEXs (Decentralized EXchanges) offer nothing more than a simplified trading experience, allowing users to swap one asset for another. WOWswap offers an advanced derivative-like experience, with traders having the ability to make as high as 5x leveraged trades.
Power Tools and Alerts
Understanding the market’s demand towards having a decentralized exchange, yet with all the power trading tools of CEXs is what defines WOWswap and it has always strived to offer the same services without depending on any kind of intermediaries.
Celebrating its first anniversary, WOWswap has announced three major updates that take it ever closer to offering a true trading platform experience:
- WOWswap Pro: A powerful trading interface that offers people the ability to manage all of their open positions, including liquidation price, debt level and charts for analysis, traders can now put up long or short positions with the help of one single click.
- Limit Orders: Not happy with the current rate? Use the Take Profit order to maximize your trade or Stop Loss to mitigate going in the red. Limit orders are available for standard WOWswap and Pro versions.
- Alerts: Know on the go when any of your open positions is generating a high profit so you never miss out on a money-making opportunity. Alternatively, get timely notice if your position is eroding. You can also set up alerts for high APY for any of their lending pools, allowing you to take part in the pool fees.
Looking Back One Year
WOWswap started operations in April 2021 and ever since then has seen new heights of success. Built on BNB Chain initially, the leveraged trading DEX has gone multichain, with services available on Polygon, Avalanche, Solana, IoTeX, Ethereum, HECO, and Metis chains.
Over the past 12 months, more than 1200 traders have swapped over 200 tokens with up to 5x leverage totalling $15 million volume and averaging $1 million per month. Other significant achievements include:
- Record-Breaking Token Sale: The $700,000 hard cap was achieved in just 9 seconds.
- Audited: Hacken, the premier code auditing firm cleared WOWswap without finding any critical issues.
- WOW Governance and Staking: Stake WOW or WOW/BNB LP tokens for governance rewards.
- Liquidation Bot: Run by WOWswap Keepers, the bots liquidate undercollateralized positions, earning rewards.
- On-Chain Governance: Stake WOW and participate in the DAO, controlling your own financial future.
- Leveraged NFT Trading: Trade your favorite NFT, even if you don’t have the complete money to back it. Leverage NFT trading tracks the underlying value so you can enjoy all the benefits of the NFT value rise.
Looking to the Future
WOWswap is proud of achieving several significant milestones in just one year. Creating a CEX experience without any of the central control has been the driving force for WOWswap. With different feathers in its proverbial cap already, the decentralized exchange is working in the direction that its users want it to.
Coupled with the fact that its governance model allows traders to define the parameters of its different services, WOWswap is set to keep delivering world-class services that are most appealing to the traders who are already enjoying the different offerings on the table.