Comparing the DEXes on ThunderCore!
Comparing and contrasting the DEXes on ThunderCore and featuring 3 DEXes: TTSwap, Acorn Finance, and EggDEX.
Introduction
DEX — Decentralized Exchanges are commonly found on each blockchain. Some of the most famous DEXes out in the crypto space include Uniswap, PancakeSwap, and many others. On the ThunderCore blockchain, currently, there are 3 main DEXes: TTSwap, Acorn Finance, and EggDex. This article aims to introduce the differences between these decentralized exchanges.
Centralized Exchanges vs. Decentralized Exchanges
Before we start comparing these three DEXes, let’s go over the characteristics of DEXes. The most common exchanges that we see or hear about in the crypto space are centralized exchanges such as Coinbase, Binance, Huobi amongst many others. While anyone is able to purchase and trade mainstream cryptocurrencies such as $BTC and $ETH on both centralized exchanges and decentralized exchanges, some unique tokens such TT20 tokens on the ThunderCore blockchain may not be listed on centralized exchanges and can only be bought on a DEX such as TTSwap, Acorn Finance or EggDex.
Another major difference between centralized exchanges versus decentralized exchanges is anonymity. Most centralized exchanges require common KYC procedures where the user will need to verify their identity to comply with legal requirements before being able to deposit or withdraw. However, since a DEX is decentralized, there is no need for identity verification. You simply perform trades whenever you want via your wallets such as ThunderCore Hub, MetaMask, or Trust Wallet. A decentralized exchange allows the users to remain anonymous when performing any sort of swap or trade.
For most decentralized exchanges, liquidity is an extremely important factor. Since most decentralized exchanges operate with the model “Automated-Market-Making” (AMM), the prices shown on a DEX will be highly related to the amount of liquidity available at the time of the trade. On centralized exchanges, liquidity is less of a problem as the trading price between two tokens does not necessarily get impacted by the liquidity available on the exchange. The amount of liquidity that is available for a trading pair can impact the amount of price slippage that you experience when making trades on a DEX, on the other hand, users you can also have potential price arbitrage opportunities.
Differences between TTSwap, Acorn Finance, and EggDex
Although there are a lot of similarities between the 3 DEXes on ThunderCore, there are still differences in their characteristics that make each of these DEX unique.
TTSwap
TTSwap is an official DEX run by the ThunderCore team. It is fully functional on the ThunderCore Hub and is compatible with MetaMask and Trust Wallet.
The main features are:
- Swapping
- Adding Liquidity
- Token Stats
At the moment, TTSwap supports over 19 tokens, all of which are tokens deployed on the ThunderCore Blockchain. And anyone can list their tokens on TTSwap so that they can be freely traded. Since the gas fees on ThunderCore are extremely affordable, swapping on TTSwap is a worthwhile DEX to try out, especially if you’re using the ThunderCore Hub.
The ThunderCore Hub has an inbuilt DEX tab that allows anyone to trade efficiently and effectively with their wallets.
Acorn Finance
Acorn Finance originally started as a stable coin swapping service and later transformed to offer “Strategies” as DeFi service on their platform.
At the moment, Acorn Finance’s DEX only supports swapping 3 tokens including:
- TT-USDT
- TT-USDC
- TT-BUSD
The stable-coin swapping service is a niche product that has never been offered on ThunderCore in the past. This stablecoin swapping service is a very much needed service. Before this DApp was released, a majority of users would swap their stablecoins (USDT, USDC, BUSD, HUSD) on TTSwap and would end up facing high slippage due to the difference between the liquidity of these stablecoins on TTSwap.
Acorn Finance solves the problem of swapping stablecoins on ThunderCore by minimizing the amount of price slippage between stablecoins on a DEX.
If you’re looking for a place to swap your stablecoins, Acorn Finance is the DApp to go to!
EggDex
EggDex has been on ThunderCore for a long time now. EggDex features a wide array of TT20 tokens that aren’t listed on either TTSwap or Acorn Finance.
It integrates tokens such as $SET, $CARE, $NICER, $EGG2, and many other tokens that we’ve seen on DApps in the ThunderCore ecosystem.
Although some of these tokens listed on EggDex can also be found on TTSwap, a majority of them are not listed elsewhere except EggDex. That way you won’t need to find a token’s contract address just to begin swapping.
EggDex also sets itself apart from the other two DEX as it has its own Yield Farming.
While at the moment, all Yield Farming pools are closed, we reckon that EggDex is worth checking out and swapping your tokens on the ThunderCore ecosystem.
Which one should you choose?
Each one of these three DEXes: TTSwap, Acorn Finance, and EggDex are unique on their own, as they all serve a different purpose. But if you’re on the ThunderCore Hub, TTSwap may be the fastest option for you to go to, since it’s integrated directly into the wallet. But if you’re considering swapping your stablecoin for another stablecoin, Acorn Finance is the best DEX out there for you! And last but not least, if you want to get other tokens not supported by TTSwap, EggDex will be a great option for you.
We recommend you to check out all three of these DEXes on ThunderCore and at the same time, happy trading!
