The Panaroma Decentralized wallet seamlessly integrates the functionality to exchange one cryptocurrency token for another through decentralized cryptocurrency exchanges (DEX).
Here are key features of decentralized cryptocurrency exchanges (DEX):
Non-Custodial Trading:
- DEX operates on smart contract-enabled blockchains (e.g., Ethereum, Binance Smart Chain) and facilitates non-custodial trading.
- Users maintain control of their funds throughout the trading process.
Token Swapping:
- Users have the ability to swap or trade one cryptocurrency token for another on DEX.
- Token swaps occur privately and unconditionally.
User Control:
- Users directly trade against the DEX without the need for an intermediary.
- The decentralized nature of DEX ensures that users have control over their assets.
DEX as Maker and Taker:
DEX functions as both the maker and taker for supported token trades, allowing for flexibility in trading strategies.
Swap Fee:
DEX typically charges a swap fee for facilitating token exchanges. The fee may range between 0.2% to 0.4% of the transaction amount.
Independence and Autonomy:
DEXes operate independently and autonomously on the blockchain, providing a decentralized and trustless environment for token trading.
Open and Unconditional Access:
- Access to DEX is open to anyone, and participation is unconditional. Users can engage in token trading without restrictions.
- The integration of DEX functionality within the Panaroma Decentralized wallet enhances the user experience by providing a secure, private, and decentralized platform for cryptocurrency token exchanges.