DeFi Dex Aggregator Development: A Business On Decentralization Model
To maintain the DeFi industry's growth and expansion, new strategies are emerging to simplify user navigation and improve user experiences. DEX aggregator creation employing cryptocurrency exchange development services, which unites many DEXs under one roof, is another creative strategy. They allow users to carry out actions across all covered dex platforms without creating individual accounts and wallets.
Key Highlights of DeFi DEX Development
- Revenue generation models
- Future of the DEX aggregator app
- DEX aggregator development procedure
- Develop DEX platform at cost-effective rates
- Cryptocurrency: not anymore a future thing
- High-end defi DEX app
- Secured exchange platform
What Is a DEX Aggregator?
In the domain of DeFi, aggregators function similarly. However, rather than major financial institutions, the aggregator ensures that the many DEXs on its list of covered services can communicate with one another.
By enrolling on such aggregators, users may access a variety of DEXs aggregators without having to register on each one individually or link their wallets to each exchange independently.
As a result, a DEX aggregator is a platform that combines the usage of several decentralized exchanges with a single user account, allowing users to use various crypto trading and investing techniques to maximize their profits. Additionally, employing an aggregator eliminates the hassle of registering on several websites and reduces cross-platform gas fees.
Stats Of DeFi DEX
Here are a few of the stats to show how the world of decentralization is a reliable option for thousands of investors.
- The demand and popularity of DEX are continuously increasing, and in the last 12 months, it gained a volume of $871 billion.
- As per the statement of Coingecko, “468 decentralized crypto exchanges with a total 24h trading volume of $3.85 Billion, a 117.2% change in the last 24 hours. Currently, the DeFi volume dominance is at 3.9%, and the 3 largest decentralized exchanges by volume are Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum One), and Curve (Ethereum).”
- The decentralized finance market size was valued at about $13.61 billion in 2022 and is expected to grow with an annual growth rate of 46.0% from 2023 to the end of 2030.
- The complete TVL of DeFi protocols surpassed $200 million in March 2023, as per the reports. This shows the impact of the DeFi platform on the global stage.
How Does DEX Work?
DEX aggregator application is a one-stop solution for investing and trading for the user instead of using multiple options. One of the most prominent examples to understand the DEX aggregator is Amazon(Ecommerce website).
Amazon has brought multiple goods sellers around the globe at one platform, bridging the gap between the buyer and the seller. Here users can probably get everything instead of reaching out to individual sellers from different applications.
DeFi DEX application also works in the same way. It brings multiple decentralized exchange platforms at one platform to make it easier for the users to trade and invest in the cryptos.
There are several DEX designs, each offering different benefits and trade-offs in terms of feature sets, scalability, and decentralization. The two most common types are order book DEXs and automated market makers.
DEX aggregators, which parse through multiple DEXs on-chain to find the best price or lowest gas cost for the user’s desired transaction, are also a widely used category.
Align the current state of IT with your business strategy by hiring the most trustworthy DeFi Dex Aggregator Development Company
Why Are People Choosing DeFi DEX Aggregator?
One of the major reasons that are making DeFi DEX development a prominent way to trade and invest at one platform. The DEX aggregator app bridges the user and the crypto companies.
In the centralized world where banks work as a third party and control the transaction between the lender and borrower. The implementation of the blockchain makes the platform more reliable to trade and decentralized.
Benefits of DEX Aggregator Development
Let’s see what benefits users are receiving from the DEX aggregator application.
Liquidity issues pose a threat to decentralized exchanges since not enough traders are placing orders. However, with the help of DEX aggregators, traders may tap into a larger liquidity pool, making it easier to transact a large volume of tokens.
Together, DEX aggregators can facilitate trades, including the buying and selling of several cryptocurrencies. Many users wish to swap out their holdings of a particular token for stablecoin. In such instances, with the help of DEX aggregators, they can more easily find the liquidity they require without causing undue slippage.
Several Unique Currency Pairs
Trading in cryptocurrencies now involves hundreds of thousands of coins and tokens, not just the large ones like Bitcoin and Ethereum. Investors in crypto assets need to undertake extensive homework before making any purchases. By consolidating data from many sources into a single interface, DEX aggregators make it simple for newcomers to the cryptocurrency market.
DEX aggregators are not vested with any authority over the user's funds or assets, just like DEXs are not. Due to the "self-custody" nature of DEX aggregators, crypto aficionados view privacy and anonymity as sacred values.
Low-Cost Gas Fees
The continued rise in gas prices is one of the biggest problems in the cryptocurrency sector. BitInfoCharts reports that in 2021 and 2022, the median Ethereum gas fee was around $40.
Here, the assistance of DEX aggregators proves invaluable. Users can get the lowest possible trade rates and gas costs via DEX aggregators.
Key Features To Keep In DeFi DEX Development
Here are some of the key features that you should consider on priority for the DeFi DEX development procedure. These few features will help your business:
The first feature that should be available in the application is the SignUp and SignIn features for new and existing users. The option for the sign-up can be with multiple options in it should be with the option to signup using mail, contact number, social media credentials, etc. This will help the users with any of the methods to log in.
The dashboard plays a major role in DEX aggregator development. With a precise dashboard, users get ease of navigation for the thing they want and real-time updates on the cryptocurrency's trading rates.
According to the Exchange Panel, most consumers visit DeFi aggregators to exchange their crypto assets for other assets or fiat money. For consumers to find the best deal among many DEXs and make informed decisions, your platform should offer real-time exchange rates and commissions.
Analytics traders rely on past data and examination of previous dealings with various assets. Therefore, you should provide analytical data to help people make decisions.
A liquidity pool, a distinguishing characteristic of DEXs, enables improved operation liquidity for several users. People who invest their money in liquidity pools and get paid for it need to be informed about any pertinent developments.
Well, for the customer support feature, you can get an adaptive generative AI
chatbot to resolve the queries of the user with much accuracy from a large set of databases and a self-learning method with adaptive AI
. RisingMax Inc. also provides AI development services
at cost-effective rates. Get reliable AI chatbots
for your business.
Defi Dex Development Guide: Step Wise Development Procedure in 2023
Now almost at the end of the blog, let’s catch up on how to get a reliable and high-end DEX application to launch for trading.
The first step one should take before keeping their toes in the decentralized marketplace
is researching the demand for DEX applications. In the research, you should analyze market trends, specific needs, loopholes in the market, and the competitive landscape.
The research also includes who all the competitors in the market are and what they are lacking.
The in-depth research of the platform will help you to draw your business plan and objectives of the USP.
The next thing for DeFi DEX development is the selection of the blockchain network that helps to align and fulfill the requirement of the business. The factors that you should see while compatibility with the renowned tokens are transaction fees and scalability. Some renowned blockchains that we work on are Ethereum, Hyperledger, Steller, Ripple, R3, EOS, Dragonchain, Tezos, etc.
Focus on providing a smooth user experience (UX) during the construction of the DeFi DEX aggregator by creating a simple yet eye-catching user interface (UI) that facilitates simple navigation and quick transaction execution. Popular wallets and adaptable trading views may be integrated to accommodate a range of user preferences and provide easy access to real-time market data.
You may entice new users and forge closer bonds with current ones by creating a straightforward yet aesthetically attractive UI/UX. The success of your DEX aggregator platform will be enhanced by the focus on user-centric design.
Hire Crypto Exchange Software Development Company
For a seamless integration of DEXs on a single interface, keep an eye on creating and implementing blockchain networks, interoperability protocols, and other crucial algorithms. To improve trade execution and user results, employ smart order routing to divide orders across decentralized finance exchanges.
To protect user money from possible threats, prioritize implementing strong and dependable security and risk management procedures. To assure compliance and win over consumers, think about implementing multi-factor authentication, strong encryption techniques, cold wallet storage, conducting frequent security audits for improved security, and following regulatory requirements.
Testing & Launch
Conduct thorough quality assurance testing to find and fix any leftover bugs, hiccups, or performance problems that could have appeared during the construction of the DeFi DEX aggregator after integrating cutting-edge security features.
Beta testing involves a small sample of users and is a successful method of getting insightful input. When the DeFi trading aggregator is stable and fully operational, start using it.
Maintenance & Support
Keeping the support team along after the launch of the platform is necessary for any of the applications. The team always helps in the upgradation of the platform and fixing the unfortunate situation of the business.
What RisingMax Inc. Have For DeFi DEX Aggregator Development
Here are some of the things that we have for our client:
For DEX aggregator development, we provide free consultation service to everyone; we have a team of experts to listen to your requirement and to help in developing the DEX aggregator.
We are with a team of 150+ experienced developers. They have been serving the industry for more than a decade. Our DEX aggregator developers deliver the platform with high-end features and maximum security.
We provide complete transparency in the development procedure and development cost. We do not charge any hidden charges before or after the platform's development.
QA Experts: 50+
To create the greatest DeFi DEX aggregator with absolute precision, our team of QA professionals collaborates with the DEX developers in parallel.
Flexible Payment Model
To create a flexible and reliable network with our clients, we offer a variety of payment model schemes.
When there are no unforeseen circumstances, we complete the job on schedule.