The Foxswap protocol uses automated market making to allow users to trade or provide liquidity.
Unlike traditional exchanges, DEXs allow users to swap assets without third parties facilitating the transaction or taking control of funds. The Foxswap Protocol offer several benefits over centralized exchanges (CEXs). Key benefits include decentralization, self custody, transparency, and greater accessibility.
Foxswap automatically performs processes such as trading, settlement, and clearing. Users can directly interact with smart contracts without the involvement of centralized institutions.
Foxswap's transaction data is recorded in the distributed ledger of the blockchain, ensuring transparency and immutability of the data.
Foxswap uses automated matching algorithms to match transactions based on the quotes and quantities of both buyers and sellers.
Foxswap supports cross chain transactions, allowing assets on different blockchains to be exchanged, ensuring the security and real-time nature of transactions.
The first time you swap or add liquidity, you have to approve the token to be swapped. This gives the foxswap Protocol permission to swap that token from your wallet.
Price Impact is the change in token price directly caused by your trade. Price Impact is reflected as the difference between the current market price and how your trade impacts the total liquidity in a pool.
The change in token price caused by the total movement of the entire current market. Price Slippage is reflected as the difference between the price you expect to receive after swapping vs what you actually receive after the swap is complete.
Due to Foxswap not storing user funds, the risk of funds being stolen is reduced.
Foxswap's transaction data is recorded on the blockchain and can be accessed and verified by anyone.
Foxswap has the characteristic of globalization, allowing users from anywhere to conduct transactions.
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