Cryptocurrency attributes
Other attributes
Introduction
The gas fee has been one of the biggest hurdles in the adoption of decentralized exchanges. The growth of the adoption of the Ethereum blockchain left many traders priced out from making on-chain DEX transactions. Uniswap has been one of the top gas guzzlers on Ethereum and many other decentralized exchanges also closely follow. Even the new blockchains that emerged as low gas alternatives became expensive with adoption on these chains. This is evident from the surge in the gas fees on Binance Smart Chain and Polygon.
It has always been clear to us that there is a need for much more efficient ways to trade on-chain regardless of the underlying gas fees.
Our Previous Approach
FalconSwap started with a mission to reduce gas fees for trading by our unique aggregation which successfully demonstrated gas fees reduction. However, there were issues with the adoption of that approach due to the issues we identified after the launch of FalconSwap V2. These issues were
1. The need for deposit/withdrawals to layer 2.
2. Multiple traders trading on the same token pair to achieve the benefits of aggregation.
The aggregation based exchange faced a catch 22 situation where a large number of traders were needed to achieve significant gas fees reduction and a significant gas fees reduction was needed to attract a large trading community. Moreover, the need for deposits and withdrawals proved to be a major friction point as people now have a more convenient option to trade in a single transaction.
FalconSwap New Approach
The learnings from our previous release brought us back to the drawing board again and made us rethink the approach for solving the gas fees issue. Thus began our quest to build the World’s most gas efficient DEX. After months of research and development, we can finally announce that we have successfully built and tested the World’s most gas efficient DEX which saves 50%-70% gas fees to trade tokens with ETH when compared with Uniswap and other AMM pools.
FalconSwap not only saves gas fees for token trading but it is also 20x cheaper to create a new trading pair on FalconSwap when compared with Uniswap as the pool creation on FalconSwap costs only about $30 when Uniswap pool creation was around $600 in gas fees.
FalconSwap DEX Features
FalconSwap provides all the gas fees savings without any changes to the user experience. The only thing that we have changed is the eye-watering gas fees that users were paying to trade on Uniswap. Some of the features of FalconSwap Exchange are:
- Low-cost trading — Save 50–70% in gas fees when you trade on FalconSwap
- Low-cost Pool creation — Create new token pairs with insanely low gas fees
- Permissionless — FalconSwap is permissionless and anyone can create a trading pair
- Decentralized — Falconswap is fully decentralized
- No deposits needed — FalconSwap does not require any deposits or withdrawals to save gas fees.
- Instant Swaps — Swap token in a single transaction
We are just a few steps away from the launch of FalconSwap exchange and achieving our mission to offer low-cost trading opportunities to all crypto users.
