While having a wide selection of different protocols is beneficial to diversify investments, trades across various decentralized finance platforms, and getting the best yield rates from crypto lending, efficiency and convenience are hindered one of the major current limitations of the blockchain market is interoperability is spread vastly across multiple protocols. That’s where the forbitspace DEX Super aggregator thrives.
What is forbitspace?
forbitspace is a decentralized super aggregator that taps into the blockchain space and brings about a multichain ecosystem that aims to create scalability and efficiency. It is an interoperability protocol that is uniting decentralized apps across several blockchains with liquidity and ease of transactions across networks. This allows users to get deep liquidity and get better pricing with a single interface.
The platform uses an algorithm smart order routing called Spaceflight that splits a single transaction into multiple orders across various DEX’s, also routes orders through allows crypto traders to tap deep liquidity and receive better pricing low cost & efficiency the most liquidity.
forbitspace is a DEX super aggregator protocol that allows traders to benefit from a large variety of financial tools in a single interface.
How does forbitspace DEX Super Aggregator Works?
forbitspace API is a superset cutting-edge discovery of all other DEX protocols at the best rates on the biggest Ethereum, BNB Chain, Polygon (Matic), and Avalanche. The API also uses smart order routing to automatically find the best available prices.
forbitspace uses a more powerful algorithm that considers a larger data set for larger trades and better prices, that split routes which execute trades across multiple pools at once, ability to optimize slippage, swap fees, and token prices which, when done right, offer a better rate for users. A swap deal split between several different DEXs will get a user an overall better price than a swap on any single exchange.
forbitspace DEX super aggregator’s main task is to offer a user better swap rates than any specific DEX can offer and to do that in the shortest possible time. Other major tasks are protecting users from price impact and reducing the probability of failed transactions.
forbitspace DEX Super Aggregator – The dApp better for Trading?
- Find the best price every time: By a more powerful algorithm requesting prices from all available aggregators, along with individual market makers, Swaps ensures that every forbitspace DEX Super Aggregator user always has access to the largest selection of tokens, and the most competitive prices.
- Fewer approvals. With forbitspace, users only need to approve each token once, reducing gas costs and shortening the path to executing their token swap no need to approve every token on multiple DEXes for each trade.
- Reduced gas costs. forbitspace DEX Super Aggregator uses smart order routing to locate the best trade. Each route requires a varying amount of gas fees to execute the transaction. Swaps source the best prices and determine which DEXs are the most gas efficient for every trade.
- Slippage protection. Large swaps are often subject to wild price swings when there is insufficient liquidity available on a particular DEX. When swapping in forbitspace DEX Super Aggregator, orders are spread across virtually all DEXs to reduce slippage impact on the final price.
How to start using forbitspace?
Here is a step-by-step walkthrough on how you can start swapping on forbitspace.
Step 1: Connect your Wallet
* Go to forbitspace.com -> Launch App You have the option to connect your ETH wallet right from the homepage.
forbitspace currently supports the following cryptocurrency wallets:
Binance Chain Wallet
You have the option to connect your ETH wallet right from the homepage. Once you have accepted the terms and conditions the wallet has been connected to, your Ethereum address will be displayed at the top of the page. By clicking on it, you can always check your transaction history, copy the address or disconnect the wallet.
Step 2 – Select the Token
With your wallet linked, you can choose which digital tokens you want to exchange. forbitspace will show you a comparison chart with exchange rates from different DEXs. You will also be able to compare individual rates to the best rate available, to give you a clearer picture.
forbitspace also monitors the liquidity of the more than 22 leading decentralized exchanges and synthetic asset providers. It then compares prices across exchanges to provide users with a reliable way of accessing deep liquidity for DeFi assets at the best market prices at respective rates.
Step 3 – Basic Settings
Choose the coin you have and the coin you want to get in the dropdown windows:
You can also choose between the ‘Maximum return’ and ‘Lowest gas cost’ options. If you choose the ‘Maximum return’ option, the algorithm will use complex routes for the swap to make sure that you get the best rates.
Alternatively, you can go for the ‘Lowest gas cost’ option. In that case, the spaceflight algorithm will find the best option in terms of gas costs.
Step 4 – Advanced settings
forbitspace enables you to do more advanced settings. Hit the ‘Advanced settings’ button in the upper right corner of the swap console.
The user can choose: 0.1 %, 0.5%, 1 %, 3% or they can enter a custom amount. If the rate changes more than the selected percentage of “slippage tolerance” during the execution of the transaction, the transaction will be partially filled or reverted to save user funds.
The advanced settings also allow a user to see a comparison table, charts, and the entire routing for the swap they want to do.
With the advanced settings, the user can set slippage tolerance, the gas price and choose between the liquidity sources forbitspace offers. The slippage tolerance feature allows the user to select their swap’s level of slippage.
Step 5 – Swap Tokens
When you are ready, you can proceed by clicking ‘Swap’.
Click confirm, and that’s done!
And that’s it! — You have just placed your first trade on forbitspace at the best rates possible.
The main features of forbitspace DEX Super Aggregator
- Aggregation Protocol
- Limit Order Protocol
- Multi-chain integration
- Low trading fees
- Derivative protocol
- Space DAO
● Aggregation Protocol
Traders can easily access liquidity from the main DEXs on different chains forbitspace protocol is interoperability unifying the decentralized apps across several blockchains with easy transactions across networks by connecting to more DEXs via Ethereum, BNB Chain, Polygon, and Avalanche.
● Liquidity protocol: The forbitspace protocol was to aggregate liquidity from other DEXs. However, the team also developed a liquidity protocol forbitswap AMM that would attract the liquidity mining program stands and is at the core of the forbitspace protocol.
Traders on the platform can supply liquidity to pools and earn additional FBS tokens through engaging in liquidity mining activities.
● Limit Order protocol: Limit orders specify a price at which traders want to sell or buy and are executed at a predetermined price that is often better than the current market price in opposition to market orders.
forbitspace Limit Order protocol is one of the most innovative DEXs, which features a limit order protocol. The forbitspace limit order protocol does not charge any fees.
● Multi-chain integration
Most DeFi applications exist on the Ethereum network. However, the expensive Ethereum transaction fees keep many investors away from the ecosystem. That’s why forbitspace protocol integrated several other blockchains, including BNB Chain (BSC), Polygon, Avalanche
● Low trading fees
forbitspace protocol does not charge any service trading fees, regardless of the size of your trade. However, traders will still have to pay the trading fees that incur from trading on the other exchanges. Often, trading fees are the same, if not even lower, as when you’re using Uniswap or Curve directly.
● Derivative protocol: The derivative protocol helps to generate unique assets by making use of characteristics such as price locking and the ability to buy or sell assets.
● SpaceDAO: DAOs on forbitspace support decentralized blockchain governance. Blockchain-based tokens help to symbolize voting rights.
The ecosystem of forbitspace DEX Super Aggregator
forbitswap is a capital-efficient AMM that combines the liquidity on Ethereum blockchain and BNB Chain with the scalability of a Layer 2 platform deployed on the Polygon Network, Avalanche, Arbitrum, and will soon be functional on other blockchains including Solana, and more.
forbitswap will also work to provide a comprehensive platform for social tokens and NFTs.
NFTs Space marketplace
flybyLaunchpad IDO – a multi-chain platform
forbitspace -FBS Tokenomics
The protocol has issued native FBS tokens. It serves as a governance asset and as a rewards asset for liquidity providers of different elements of forbitspace. Its architecture also includes Space DAO, a decentralized autonomous organization that allows FBS holders to have a say in all crucial referendums on upgrades of forbitspace and its elements, rewards strategy, product development, and so on.
Besides that, FBS token is also accepted in various DeFi-centric ecosystem programs such as liquidity mining, staking, and so on. Also, FBS is accepted in forbitspace’s native NFT marketplace and flyby initial decentralized exchange offering (IDO) launchpad.
In a nutshell
One major concern that kept haunting the blockchain ecosystem was the lack of interoperability. Users on one network could not easily connect to another network. Or if there was a way, it was too expensive and time-consuming.
But as the DeFi market began to grow, innovative solutions that aimed to simplify user navigation and improve user experiences kept cropping up. Of all the solutions that have arisen in recent times, DEX aggregators stand out. With this new platform, users could easily trade assets between networks.
forbitspace DEX Super Aggregator utilizes the power of blockchain to bring together trades across various decentralized finance platforms into one space. This saves users’ time and increases efficiency for cryptocurrency trades. The platform presents the best prices from DEXs, swap services, and liquidity pools into one place; and in this way, users can optimize their trades.
Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as informative material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any cryptocurrencies.