Uniswap is a decentralised exchange that allows easy swapping of Ethereum-based tokens. The UNI token is used as the primary utility coin inside the Uniswap ecosystem. The Calyx Token is a newly launched cryptocurrency that will be used inside the token swap universe being built currently. ApeCoin (APE) has been released by the same company which is behind the Bored Ape Yacht Club NFT collection. The Calyx Token will be used inside the token swap protocol which is cross-chain but will be deployed on Ethereum (ETH) initially. The CLX ecosystem will help in sourcing liquidity from various service providers and will allow instant swap mechanisms. These three cryptocurrencies can provide great returns in the future if you can manage to accumulate enough quantities for your crypto portfolio.
Calyx is a cross-chain liquidity solution
A single liquidity hub is not usually enough to fulfil the diverse needs of traders, liquidity providers, project developers, and other market participants. Hence, the Calyx ecosystem has been designed to accommodate and support cross-chain protocols while making use of a robust and secure ecosystem.
Multiple liquidity pools will be established to provide enough flexibility for traders to fetch liquidity from a protocol of their choice. Users will also be able to filter out liquidity services that are not needed at the time. This will help by providing a significant reduction of gas fees whilst creating room for flexible liquidity options. The traders will also have enough flexibility because it will not be the only cryptocurrency option. Additionally, users will be able to pay in a currency of their choice.
Advantages of the Calyx ecosystem
The Calyx ecosystem will be open-source, transparent, and fully decentralised. Powered by smart contracts, it will not be manually manipulated. In addition, it will help in providing instant token swaps for the benefit of the users in a single transaction and there will be no waiting period. The Calyx Token will have several smart contracts which will allow instant exchange and trade of tokens across various blockchain networks. Moreover, support for multiple wallets has been integrated including Metamask, Ledger, Mycrypto, etc. Users will be able to stake the CLX Token and participate in the purposes of the Calyx DAO. Liquidity providers will also get a share of 85% of the total fee collected as rewards.
ApeCoin completes integration with Polygon
ApeCoin has announced its integration with the Polygon network and will now be available across 19,000 decentralised applications and games powered by the Polygon ecosystem. This move was necessary because of the heavy fees and congestion on the Ethereum network. Yuga Labs also discussed the possibility of ApeCoin building its own chain in the future to scale properly, encouraging members to start thinking in this direction. There are currently 3.9k members in the ApeCoin DAO and the community is governed as a completely decentralised system. As ApeCoin nears the launch of the Otherside, a metaverse empire, it would need to scale dramatically and the Polygon integration would help in ensuring that the network does not collapse. APE has a current market valuation of about $4.35 billion and is one of the most popular metaverse coins currently available.
Uniswap enjoys more liquidity than centralised exchanges
New research shows that Uniswap protocol version 3 has more liquidity for ETH/BTC, ETH/USD, and other ETH pairs than some of the leading centralised exchanges. It goes to show that decentralised exchanges such as Uniswap have become highly popular, more liquid, and more stable. This could prove to be bullish for the UNI token as it is used as the primary utility coin inside the Uniswap exchange. Users can get access to various tokens and are shifting to DEXs as cryptocurrency is becoming highly regulated throughout the world. Decentralised exchanges allow token swaps without restrictions. Calyx has an advantage over other DEXs because it will support multi-chain interoperability with support for tokens of other blockchains and will not be limited to just Ethereum, unlike Uniswap.
The Calyx Token can be purchased through a presale available here.
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