OKX First to Fully Incorporate Uniswap Labs API Into its DeFi Platform, Launches OKX DEX 'Snap' Trading Feature
SINGAPORE, March 1, 2024 /PRNewswire/ -- OKX, a leading Web3 technology company, and Uniswap Labs, one of the most trusted names in decentralized finance (DeFi), today announced that OKX is the first major industry player to fully integrate Uniswap Labs' trading APIs into its offerings.
The integration includes the launch of the 'Snap' trading mode feature on OKX DEX to aggregate Uniswap's industry-leading liquidity.
OKX DEX's 'Snap' trading mode feature allows users to swap tokens on Ethereum quickly and intuitively without incurring any gas fees. The 'Snap' feature operates directly on the OKX DEX interface via Uniswap Lab's UniswapX protocol. UniswapX is a new permissionless, open-source protocol for trading across public and private automated market makers (AMMs) and other liquidity sources.
The protocol is designed to offer better prices by providing users access to additional liquidity and gas-free token swaps. Additionally, it eliminates costs associated with failed transactions and prevents maximum extractable value (MEV).
UniswapX's unique design enhances the reliability and security of DeFi transactions, while optimizing prices. OKX's Web3 users can trade using the UniswapX protocol by selecting 'Snap' in the 'Trading Mode' section on the OKX DEX platform.
The integration provides a comprehensive DeFi experience that enhances decentralized exchange transactions' reliability and security, offering a more intuitive trading experience for users.
OKX Chief Innovation Officer Jason Lau said: "This strategic integration with Uniswap Labs improves the DeFi experience for OKX users and we're extremely pleased to be the first to offer UniswapX to a wider Web3 audience. UniswapX makes available an entirely new type of liquidity to OKX DEX users, and they will be able to benefit from even better pricing and execution. As UniswapX develops, we're eager to expand our support and add cross-chain support at a later date."
Uniswap Labs Chief Operating Officer Mary-Catherine Lader said: "Uniswap Labs' smart contract expertise has transformed blockchain-based markets. UniswapX brings benefits of on-chain trading to more users, and is key to growing that foundation. We're excited to bring deeper liquidity and gas savings, as well as the future of cross-chain swaps, to OKX users."
In addition to the Snap feature, OKX DEX also allows users to swap and bridge tokens via its 'Auto' trading mode feature. This feature uses OKX's 'X Routing' smart aggregator algorithm, which identifies the best trading route across more than 400 DEXs, taking into account prices, slippage and network fees in multi-chain and cross-chain scenarios.
At the same time, thanks to the Ethereum upgrade EIP-6963 (Multi-Injected Provider Discovery), it will be easier for OKX users to find their wallet in the Uniswap interface. The change applies to all browser extension wallets, and makes the user experience much better for anyone who uses multiple wallets. Now users can connect their OKX Wallet directly with the Uniswap web interface by clicking 'Launch App' and then 'Connect Wallet.' After connecting with Uniswap, users can swap tokens, trade NFTs, buy crypto, earn through liquidity pools and build DApps using their OKX Wallet assets on Uniswap.
For more about UniswapX and its security benefits, visit www.okx.com/learn/what-is-uniswap.
For further information, please contact:
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About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:
- OKX Wallet: The world's most powerful and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, 'written down' seed phrases. In addition, OKX Wallet's account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
- DEX: A multi-chain, cross-chain decentralized exchange aggregator of 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and more than 20 blockchains supported.
- NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
- Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.
OKX partners with a number of the world's top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.
To learn more about OKX, download our app or visit: okx.com
About Uniswap Labs
Uniswap Labs is the largest on-chain marketplace for digital assets and the most trusted name in DeFi. The Uniswap Protocol is the leading source of liquidity across DeFi, processing $1.7 trillion in lifetime volume. Uniswap Labs builds products that allow users to easily and safely access DeFi, including the Uniswap web and mobile apps and UniswapX. Uniswap Labs makes swapping simple -- anytime, anywhere. Learn more at app.uniswap.org/swap.
SOURCE OKX
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