Top 5 Decentralized Exchanges With Polygon Network Integration
What's up with Decentralized Exchanges and weird food names? 😂 Anyway, are you looking for good Decentralized Exchanges on Polygon? You are in the right place..
The Polygon Network is still relatively new and evolving when it comes to other Blockchains like Ethereum and BSC, especially when it comes to DeFi. Nevertheless, they have a plethora of projects in the market that aim to provide various different financial protocols. A new one popping every week or so! You can do some warm-up exercise using a little sum of money since transaction fees are quite cheap and faster than Polygon's counterparts. I am trying to gather more knowledge about its Ecosystem like a mad scientist, doing various experiments along the way, mainly through DeFi platforms.
To traverse easily into the Polygon System you need to exchange your Polygon Tokens into others so that you can stake them in respective Liquidity pools. Sometimes cross-chain too! DeFi market is fueled by the best DEXs and there are quite a few which support Polygon Network or built on it.
1inch
1inch is one of the leading DeFi aggregators with the best prices on the market. The exchange splits the order into several decentralized exchanges like Uniswap, KyberNetwork, Bancor, and RadarRelay to avoid high price slippage. They also have an AMM protocol called MoonSwap which is built on Ethereum.
Apart from this, it supports Binance Smart Chain (BSC) and Ethereum as well. You can do cross-chain transfers from BSC To ETH and ETH to Polygon on both sides. Direct connection with BSC to Polygon is not available but you can do it via ETH, but that costs a good deal although it shows you the best deal.
Here's my referral link which you can use to access the exchange: https://app.1inch.io/
QuickSwap
QuickSwap is a fork of UniSwap on Polygon Network. QuickSwap's token, QUICK, is a governance token that can be earned by putting your Matic-based tokens in their Liquidity Pools.
Since it's a polygon-only exchange, the fees are quite cheap. Recently Quickswap hit $1,000,000,000 TVL and that's huge. I have personally used it several times and very satisfied with the performance. It's very easy if you have used Uniswap or Pancake Swap.
Curve
Curve is an exchange liquidity pool on Ethereum just like Uniswap designed for swapping between stablecoins with low fees and slippage. This one's UI is quite unique. Looks exactly like the Turbo C++ Compiler screen but better. When it comes to UI, simple is better so I will take it.
Curve uses a price formula that is designed to minimize the slippage as much as possible during the exchange, even in case of large amounts. It is also a liquidity aggregator where you can Pool your assets.
SushiSwap
SushiSwap looks like a Japanese Restaurant Menu. They have one of the most kickass UI among all other DEXs. SushiSwap was created in 2020 by a pseudonymous individual or group called Chef Nomi. It's also a fork of Uniswap with a few differences.
Sushiswap rewards LPs with Pool fees and also extra returns for $SUSHI token HODLers. Yield farms are available for ERC-20, BSC & Polygon assets. Uniswap provides a higher fee to LPs but Sushi token holders get extra rewards.
JellySwap
JellySwap is a cross-chain decentralized exchange powered by atomic swap technology. In simple words, you can exchange your assets across chains, peer to peer, in a trustless manner.
Apart from being a bridge among different chains, it also provides a smooth interface to buy and sell your crypto from/for Fiat. And as expected, you can become an LP to earn interests.
There you have it, the list of top 5 Decentralized Exchanges with Polygon Integration. I hope this would help you get into Polygon DeFi apart from other blockchains. Interoperability is the future that will make DeFi more open for every community out there. If you liked this post then don't forget to upvote. Drop-in your thoughts in the comment section.
Do check out the tutorial on How to withdraw ETH on Polygon Network From Okcoin Exchange.
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Have you used all of them? If so, how would you rank them out of the ones you used?
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Yes @jfang003, I have used all of them. Like 1inch and QuickSwap the most as I have been using them the most. This is because of the ease of use and the different crypto options available. Fees are quite similar in all of them which is almost negligible unless you are doing a huge trade.
Somehow I have listed them down in the same order I would rank them. 1Inch being the best among all. As you move down the list, rank increases.
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STOPCurve reminds me of the good old days of windows xp.
I saw that you missed polycatfi or that does not fall into this category?
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So true man! Good old days. 👌
Looks neat. Love their logo. It's a DeFi platform that uses some of the DEXs I listed above. So no it doesn't fall in this category. But I am going to make a post soon about Polygon DeFi platforms I have used. I Will checkout Polycafi too. Thanks a lot @fabian98.
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Okay i'll wait that post :D
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Now this is helpful when you're new to Polygon but do see that this is going to be big!
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Yes, I was looking for these exchanges when I wanted to try Polygon DeFi for the first time. They come in handy!
I am 100% sure polygon is going to be quite big in the next few months. It is getting popular like BSC when it was new.
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