PolyDEX–which offers an Automated Market Maker (AMM) DEX, NFTs, and other Defi-focused options–is now part of the rapidly growing Celo ecosystem.
The DeFi platform revealed that their launch on Celo blockchain intends to ride on the ledger’s ambitious goals.
Unlike competing ledgers which are technically “heavy”, the Celo blockchain provides a reliable payment infrastructure for crypto projects primarily targeting mobile users.
Therefore, by being part of the expanding Celo ecosystem, PolyDEX hopes to increase its market share, tapping on the increasing interest among users on open finance, NFTs, and cryptocurrencies.
What is PolyDEX?
PolyDEX has been running on Polygon, an EVM-compatible sidechain for scaling Ethereum, launching early 2021 after forking from PancakeSwap.
The latter is the largest DEX on the Binance Smart Chain (BSC) which also forked from Uniswap before making enhancements and launching on the Binance-sponsored highly scalable and interoperable chain.
However, besides being a pure AMM DEX relying on a community of liquidity providers, PolyDEX offers various services with tentacles extending to the wildly popular NFTs and yield farming while also acting as an IDO launching pad.
These solutions are specifically designed to be well-rounded, meeting the varied needs of retailers and business founders.
An AMM DEX and Aggregator
By launching on the Celo Blockchain as CeloDEX, the platform will offer more beyond being an ordinary DEX.
The project developers have revealed that they are now focused on becoming an aggregator for decentralized exchanges.
As a result of this strategic shift, the portal would cheaply allow traders to access the best swapping prices on supported pairs at the best price any time of the day.
This is a differentiated approach applicable in typical decentralized exchanges like Uniswap, SushiSwap, or even PancakeSwap.
Towards implementing their objectives, UbeSwap and SushiSwap will be the first…
