Crypto exchange OKX has integrated Uniswap Labs’ API into its decentralized exchange (DEX) to introduce gas-free trading through a feature called “Snap.” This integration allows for simpler decentralized token swapping by providing the OKX DEX with access to the UniswapX protocol and its liquidity.
The integration enables no-fee swaps by implementing a new model, with liquidity providers covering the fees. OKX Chief Innovation Officer Jason Lau believes that this process is convenient for users and will result in cost savings. Lau also emphasized that DeFi users will benefit from access to the UniswapX protocol, as it opens up a new source of liquidity. Additionally, users will now receive the exact number of tokens they are quoted for, eliminating slippages, MEV bot attacks, and failed transactions that are common issues in the DeFi space.
Lau sees this integration as a complement to OKX’s other offerings and part of their broader efforts to expand users’ access to all on-chain use cases. He expressed excitement about further development and the addition of new functionalities in the future, and encouraged users to provide feedback.
In addition to the gas fee elimination through the API, OKX announced that its wallet users can now find their wallet within the Uniswap interface. This is made possible by the Multi-Injected Provider Discovery upgrade on Ethereum, based on EIP-6963. This applies to all browser extension wallets, allowing OKX wallet users to directly connect their wallet with Uniswap and engage in activities such as crypto swapping, NFT trading, liquidity pool participation, and DApp development.
Article Source: Cointelegraph