OKX has integrated Uniswap’s API for fee-free trading on its decentralized exchange

The company explained that fees on behalf of users will be paid by liquidity providers

01.03.2024 - 09:36

304

3 min

What’s new? The OKX exchange has integrated the API interface of Uniswap Labs, the company behind the Ethereum-based Uniswap DEX development, into its decentralized trading platform (DEX). This will allow OKX DEX to access the UniswapX protocol and its liquidity, as well as enable fee-free trading via Snap. OKX chief innovation officer Jason Lau said the integration will eliminate common problems in the decentralized finance (DeFi) sector such as slippage, failed transactions, and MEV bot attacks.

Material by Cointelegraph

What else is known? Lau explained that fee-free trading is enabled by a new financial model where fees are covered by liquidity providers on behalf of users. In addition, OKX users will be able to access their wallets in the Uniswap interface thanks to the Ethereum Provider Discovery upgrade, which is part of the Ethereum Improvement Proposal (EIP) number 6963.

OKX stressed that the upgrade applies to all browser-based wallets and users can directly connect their OKX wallets to Uniswap to exchange cryptocurrencies, trade NFTs, participate in liquidity pools, and create decentralized applications (DApps).

OKX exchange starts working on the ERC-7579 standard in partnership with Web 3.0 companies

The new standard aims to ensure interoperability between different Web 3.0 wallets

Earlier, OKX launched a localized platform in Turkey, as well as an exchange, P2P platform, and Web 3.0 wallet in Argentina, but also discontinued services in Uzbekistan.

Also, this month, Uniswap announced the launch of uni.eth subdomains based on the Ethereum Name Service (ENS) and announced the launch of the fourth version of the protocol.

Author: