Crypto News – A trading mechanism that enables users to swap up to 300 different tokens in a single transaction has been released by a developer team working on the Avalanche blockchain.
With New Avalanche dApp Multiswap’s Code, Traders Can Now Swap Hundreds of Different Tokens in Just One Trade
Developers revealed during a panel in Seoul last week that Multiswap, created by the CavalRe team, had recorded the maximum number of token swaps in a testing period at 340 distinct tokens.
Think of it like a new kind of decentralized ETF. On testnet, we have a pool with over 500 tokens representing a mockup of the S&P 500 for demo purposes, which represents over 125K trading pairs with zero fragmentation of liquidity.
About Multiswap’s Code
Traders can typically exchange one cryptocurrency type for another using DEX liquidity pools. Multiple trades can take place in a single transaction thanks to the coding of Multiswap, which generates a liquidity pool of many different tokens that can be readily swapped with one another. The new tool enables users to draw up more intricate trading plans, such as ones that require speedy, low-cost transactions involving a number of tokens.
The entire liquidity for each token is available for trading against any other token in the pool. You would need 125K separate pools to replicate this on Uniswap, which just splinters any available liquidity,Forgy
However, Forgy warned that there are still security vulnerabilities present because of the sophistication of blockchain-based apps themselves.
No piece of software whether on blockchain or not could ever claim to be free of security risks. For example, there was a recent exploit due to certain contracts being written in an older version of Vyper, a Python derivative, due to a bug in the compiler. These things are very difficult to defend against,Forgy