Top 5 DEXs On Sui Blockchain (Part 2)
Discover the top 5 DEXs on Sui blockchain in part 2 of our series. Trade securely and efficiently with these decentralized exchanges.
Welcome to part 2 of our series on the top 5 decentralized exchanges (DEXs) on the Sui blockchain. As the popularity of decentralized finance (DeFi) grows, DEXs have become increasingly important as a means of trading cryptocurrencies in a secure and efficient manner. In this article, we'll explore the top 5 DEXs on the Sui blockchain and provide you with all the information you need to make an informed decision when it comes to trading on this exciting platform.
1.Kriya DEX
Kriya DEX is a high-speed derivatives trading platform that offers a non-custodial, on-chain orderbook-based exchange. The platform currently focuses on perps, with plans to gradually add options markets in the near future, which allows for building liquidity bottom-up and sensibly, especially during a bear market.
Thanks to Sui-Move's parallel processing capabilities and unique consensus, Kriya can create front-running resistant order books that ensure better performance and low latency. Additionally, leveraging the unique object architecture to define complex assets and split transactions enables Kriya to achieve even lower latency.
Kriya DEX aims to provide capital efficiency by using the low latency to make its margin system more accurate, which allows for more intelligent cross-margining of hedged positions. Moreover, Kriya DEX offers better-than-traditional-Finance (tradFi) features on-chain, which is superior to the current DeFi UX. Users can enjoy one-click position reversal, place orders directly from the option chain, and use multiple order types like IOC, trailing SL, and seamless collateral management across multi-legged positions.
Kriya DEX also offers a basic mode for retail and API trading via Chakra Suite. And, with its non-custodianship model and low fees, Kriya DEX makes it more transparent and accessible for retail traders. All funds, except maintenance margin, remain in the user's wallet, which ensures that the platform is secure and transparent.
Kriya DEX official links: Twitter | Website | Discord
2.OmniBTC
OmniBTC is an innovative financial system that seeks to bridge the gap between different on-chain liquidity pools. Its primary goal is to connect and unify all the on-chain liquidity, providing users with a seamless cross-chain experience. To achieve this, the platform relies on DOLA Protocol, a Decentralized Omnichain Liquidity Aggregation Protocol that aggregates liquidity from different chains.
DOLA Protocol acts as the hub of the system, bringing together other DEXs and bridges, which allows for the creation of user-friendly omnichain financial applications such as OmniSwap, OmniLending, and PSC. With OmniSwap, users can swap any token between any chain with just one click. OmniLending, on the other hand, enables users to deposit/borrow assets on one chain and withdraw/repay them on another chain without the need for a bridge.
Moreover, OmniBTC has integrated with many excellent DEXs and omnichain interoperability protocols, such as Wormhole and LayerZero, to offer a more robust and efficient platform. Currently, the platform is focusing on Sui & Aptos, ensuring that users get the best cross-chain experience possible.
One exciting feature of the platform is that it has won the 34th slot of Polkadot, providing an opportunity to connect Polkadot with the EVM ecosystem and MoveVM ecosystem. This integration allows for more extensive access to different chains and increased functionality for users.
OmniBTC official links: Twitter | Website | Discord
3.Wisp Swap
Wisp Swap is a cutting-edge Automated Market Maker (AMM) decentralized exchange (DEX) protocol that operates on the Sui network. As a leader in the space, we provide users and liquidity providers with a truly affordable transaction-fee system and improved capital efficiency through exciting new features. Our full suite of financial products includes trade, lending, staking, yield farming, and launch.
What sets Wisp Swap apart from other DEXs are our four decisive components. Firstly, the Concentrated Liquidity Market Maker (CLMM) allows for increased depth by allocating capital within a specified price range rather than a uniform distribution from zero to infinity. Liquidity providers earn trading fees as long as prices remain within their chosen range. Secondly, our Impermanent Loss (IL) Insurance Pool covers liquidity providers against impermanent loss in both directions, providing 2% IL coverage for each day in the pool. This allows LPs to alleviate opportunity cost from provisioning liquidity instead of holding each token individually.
Thirdly, our Decentralized Limit Order Book (DLOB) is a permissionless and computationally efficient system that anyone can build and run. The validator-like node network can route orders through multi-sourced liquidity mechanisms designed to improve capital efficiency for both retail and institutional traders.
Finally, Wisp Swap has a Decentralized Autonomous Organization (DAO), which empowers the community to be involved in governance and treasury management through the $WISP token to launch DAO governance as decentralized as possible while keeping the community engaged and entertained.
Wisp Swap official links: Twitter | Website | Discord
4.Interest Protocol
Interest Protocol is a DeFi platform that offers a variety of financial products to its users. The protocol allows users to trade, farm, and borrow a range of assets including crypto, fiat, commodities, and assets from other Blockchain Networks. With three core synergistic products, Interest Protocol provides a complete suite of DeFi services to its users.
The AMM DEX on Interest Protocol addresses two important issues commonly found on decentralized exchanges on the BNB chain. It implements an on-chain oracle and supports a wide range of asset classes, from stablecoins to volatile coins. This means users don't have to switch platforms to swap different types of assets, making trading on Interest Protocol more efficient and convenient.
The Lending Protocol on Interest Protocol allows users to borrow stablecoins without paying interest rates on their loans. Instead, users can earn money from their collateral through farming. The platform's design ensures that the profits from farming outweigh the cost of borrowing, maximizing returns for users.
The Synthetics Protocol on Interest Protocol is a great solution for users who want exposure to real-world assets like stocks, commodities, and bonds. Synthetic tokens are coins that follow the price of an asset, allowing users to invest in assets that are not traditionally available on blockchain networks. Interest Protocol allows users to mint iEUR, iUSD, iJPY, iGBP, IBAYC, or iTSLA, giving them access to a wide range of on-chain assets.
Interest Protocol official links: Twitter | Website | Discord
5.FlowX
FlowX is a cutting-edge decentralized exchange that promises to deliver a seamless and user-friendly experience for all your trading needs. Built on the Sui Blockchain, FlowX stands out from other DeFi platforms with its advanced features and ecosystem-focused approach to decentralized trading.
One of FlowX's standout features is its ability to facilitate multi-token trades. This unique functionality allows users to exchange from one token to multiple tokens, or vice versa, in a single transaction. With this feature, users can easily create a diversified investment portfolio with allocated capital for each asset, or quickly convert multiple tokens into a single token.
In addition to multi-token trades, FlowX also offers advanced liquidity management tools. Users can easily track the estimated value of their liquidity pairs, as well as those on other AMMs. FlowX's position migrating feature also enables users to effortlessly move their Liquidity Positions between AMM DEXs while minimizing slippage.
Another key feature of FlowX is its DEX aggregator, which pools liquidity from various DEXs to optimize user trading. This feature enables users to access superior prices, lower transaction costs, and reduced slippage compared to trading on any single DEX.
FlowX official links: Twitter | Website | Discord
Wrapping up
We hope you found this second part of our series on the top 5 DEXs on Sui blockchain informative. Stay tuned for the next installments where we'll be exploring other aspects of DeFi on the Sui blockchain, such as lending platforms and yield farming opportunities. As always, we're committed to providing you with the latest insights and information on the exciting world of decentralized finance.
Besides the information about the DEXs on Sui, you should also have knowledge about the Dapps on Sui and Sui Blockchain NFT marketplace. Suipiens articles will give you all the information you need.
Be sure to check out Suipiens' website and social media channels to stay up-to-date on all things about Sui Blockchain!