OpenSwap Shares Details on ‘Spot Price Queue’ Feature that Promises Zero Slippage for On-Chain Swaps
Spot Price Queue to Go Live from the Week of October 25
In an announcement made today, OpenSwap stated that its innovative Spot Price Queue feature will be available from the week of October 25.
For the uninitiated, OpenSwap’s Spot Price Queue feature is poised to be a game-changer in the on-chain swap space as it guarantees zero slippage on spot market price execution for crypto traders. This feature is in stark contrast to the existing AMM architecture where traders face a lot of risk in terms of slippage as they do not know what the final price of their trade will be.
Notably, the Spot Price Queue feature has been developed keeping in mind the token pairs that already have liquid off-chain spot markets. The Spot Price Queue feature leverages secure oracles via its Secure Adaptor Protocol that safeguards against sudden price fluctuations, whale manipulation, and front-running.
Importantly, the Spot Price Queue will have two varieties – one designed for traders who require to instantly exit their open positions and the other geared toward traders with low time preference.
The former variety of the feature, dubbed Spot Priority Queue, executes single-price transactions ordered by the trader’s desired priority which can be expressed by staking OSWAP tokens. A higher amount would ensure that more tokens are sold at optimal execution parameters, i.e., without slippage based on the availability of liquidity from the other side of the queue.
On the other hand, the Spot Range Queue (the second variety as discussed above), allows liquidity providers to set price brackets to ensure their liquidity is available for sale. As can be inferred from the this variety, it is primarily geared toward low-priority trades common to high timeframe traders.
In addition to the aforementioned, OpenSwap is considering releasing other liquidity queue types in the coming weeks.
One of these liquidity queue types is the Restricted Group Queue which is essentially an “anti-rugpull” system that promises safety for participants in Initial DEX Offerings (IDO) by protecting them from total loss due to failure to list or the team running away with the raised funds.
Commenting on the development, Bruce Chau, CEO of OpenSwap, said:
“On-chain transactions and AMMs lack the flexibility and choice of centralized exchanges. OpenSwap’s objective is to solve these inefficiencies in the DeFi ecosystems by introducing new technologies and concepts such as our liquidity queues, a way to introduce the flexibility of order books without the associated transaction costs.”
Committed to becoming the most comprehensive one-stop DeFi hub offering the best on-chain pricing and multi-chain arbitrage and trading, OpenSwap allows users to experience revolutionary benefits through optimizing their trades with OpenSwap’s unique features: Liquidity Queues, Hybrid Routing, DEX Aggregator, and Inter-Chain Liquidity Swaps, all on a one platform.
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