What is Llama Swap? Introduction and review of LlamaSwap facilities
If you are familiar with blockchain and decentralized financial markets (DeFi), you have probably heard of Dex Aggregators. A new innovation in DeFi that helps increase asset liquidity and find better prices. Llama Swap (Defy Llama Meta Aggregator) is one of these Decentralized aggregators which has attracted the opinion of many users due to its many features. In this article we intend to LlamaSwap and check the facilities it provides to users. Stay with us.
What is Llama Swap?
Before we examine the features of LlamaSwap, it is better to first answer the question, what is LlamaSwap? According to the description published by the creators, this dex aggregator checks the prices in 1inch, Cowswap and other liquidity pools and informs the traders of the best suggested price for buying or selling.
In fact, the main purpose of setting up such platforms is to simplify buying and selling for traders. They can access all price information and transaction fees in different DEXs by referring to one of these DEX collectors.
Instead of collecting information from digital currency exchange and pools, Lama collects the necessary information from DEXs and provides it to users. That’s why he nicknamed himself The Aggregator of aggregator has given
Introducing the features and facilities of Llama Swap
In this section, we will first address a very important issue for investors and traders, and that is the transaction fees they do. One of the important features of Llama is not to charge a fee in excess of the transaction amount. That is, you pay the specified fee in the aggregator that you used to make the transaction.
You might be wondering where the income of this platform comes from? In fact, the working policy of the developers is such that for introducing a dex Aggregator And making a transaction in Lama, a part of the fee of that Dex is deposited to the account of this platform.
In a part of the explanation published on the Lama site, it is stated that some platforms do not charge any fees for doing this.
Since DiFi Lama has not yet created its own smart contract, it uses the router contract of introduced platforms to secure transactions. As a result, if you want to ensure the security of your transactions, you should do a comprehensive research on how to ensure the security and privacy of the reference dex aggregator.
Introducing wallets supported by Lama Swap
To use the features of this platform, traders and investors must use wallets that support one of the following 20 networks.
- BNB Chain
- Bit torrent
- Moon River
Currently, the wallets that can be used on this platform are:
1. Meta Musk
2. Rin Bo
3. Coin base volt
4. Volt connect
Read more What is staking?
Comparison of Unidex Exchange and LlamaSwap
Many users always compare decentralized aggregators with each other and try to find the best one. For this reason, in this section, we decided to compare Lama Swap with Unidex Exchange; Because this platform is one of the main competitors of Lama. In the following, we examine some of the most important features of these two platforms.
|Cashback bonus||has it||does not have|
|IP hiding||does not have||has it|
|token||has it||does not have|
|The number of networks||14||20|
|Wage||has it||does not have|
|Yield Farming||has it||has it|
Examining the efficient method of Lama Aggregator
To use this aggregator, you must first enter the Lama Swap site and click on the Connect Wallet button on the top right side of the page. In the opened section, you can select one of the available wallets so that a barcode will be displayed to you, through which you can connect to your wallet.
Note: If you do not have an account in any of the mentioned wallets, you can open an account using the Get option.
After connecting to the wallet, you must select the network on which you intend to make a transaction. For example, to convert BUSD to BNB, you must use the BSC network. If you have selected the network correctly, the desired tokens will be displayed in the Select Token section.
Select the transaction amount in the Amount In section and enter your desired percentage from the Swap Slippage section.
At this stage, you can see the best offers and choose your desired option from among them and then click on Approve or Approve Infinite.
The difference between these two options is in the steps that must be taken to make transactions. You must manually approve all smart contracts by clicking the Approve button; But Approve infinite allows you to approve all contracts at once.
Once the contracts are approved, the trader must sign it to finalize it. For this purpose, click on the View option and on the opened page, after checking the information, click on the Sign option and then Swap.
If you want to keep your IP secret during the transaction, you should activate the Private Mode option when selecting the network. With this, Llama Swap manages your request through its servers.
Review the future of LlamaSwap
Since many users are not interested in revealing their information, Llama Swap can be considered one of the promising platforms in the blockchain world; Because this project helps users to collect the information needed for the transaction from the DEXs in the digital currency market and make the best choice.
Another advantage that distinguishes this platform from other platforms is the use of dedicated servers for IP hiding and redirection.
What is Lama Swap? Introduction and review of LlamaSwap features for the first time on Wallex blog. appeared.