In an already jam packed Q1 of this year Plasma Finance have managed to create the Hyperloop Eth cross chain protocol, partnered with Casper Labs, Bondly Finance and Bridge Mutual amongst others and announced a SushiSwap integration so their users can begin to enjoy the benefits of DeFi.
But perhaps their most bold move they are making is the creation of PlasmaSwap, a reconstruction of the typical DEX that looks to combine the data rich dashboard commonly found on established central exchanges and bring that to the DeFi space.
PlasmaSwap: The DEX Looks Like A CEX
In most central exchanges, like Binance, experienced traders are able to protect their profits and limit their risk by using the trading tools such as stop losses and limit trades which are not currently available on any decks right now.
PlasmaSwap aims to make it possible for professional traders to apply the same capital protection measures in the DEX world.
The Plasma team are also looking to include market data and a fully loaded dashboard so users can trade like they would on a central exchange.
The team want to bring users in a one stop shop for crypto, retail or institutional.
PlasmaSwap & The High Gas Fee Problem? Introducing The Plasma Gas Station!
The current problem in the Defi space are the high costs of transactions that DeFi users must pay simply to interact with protocols.
While ETH 2.0 promises to fix this, its implementation may take time.
PlasmaSwap, with the Plasma Gas Station, will aim to enable users to easily pay gas fees with other assets you own, such as USDT and DAI, & once they have implemented Hyperloop in Q2 2021, the team are promising near instant transactions with zero fees… I’ll hold my breath on that one!
Plasma Finance – All You Need In One Place
Plasma state they have ‘all you need on one place’ on their website.
Currently, you can manage your portfolio, Fiat on/off ramp, get into liquidity pools, Lend or borrow, start a savings account and asset swap on their website.
The team’s aim is that you will soon be able to trade on PlasmaSwap, a DEX with a the UI & dashboard of something far better than anything out there right now, and hopefully, far safer.
I’m personally very bullish on Plasmapay.
Still flying under many peoples radar but not for long. Highly ambitious, the Plasma Finance team look like they are here to say.
Sign me up!
Official website: https://plasmapay.com/#
Uncle Bob is a veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
Uncle Bob has a well-followed crypto-related Twitter account and can be viewed here