DeFi continues to disrupt the financial world, and decentralized exchanges are at the forefront of this movement. Thanks to DEXs, the unbanked and the growing number of people with apathy for centralized outfits can now access financial products in confidence.
Why DEXs Are Still Attractive in 2022
The DeFi boom feels like decades ago, but it hasn’t been more than a few months since decentralized finance became a thing. Has the envisaged ‘bubble’ gone burst? Certainly not. At the moment, there are more DEXs than users (slightly exaggerated), and that’s not exactly healthy for these financial products.
Regardless of the security concerns attached to decentralized exchanges and the lack of desire to use them, these cryptocurrency trading platforms remain in great demand within the crypto space. DEXs aren’t going out of fashion just yet. Centralized exchanges have custody of assets deposited on their platform, which can prove dangerous if the entities behind them go rogue.
DEX won’t be going anywhere as the absence of an intermediary endears this cryptocurrency exchange to users. Those in the crypto space aren’t big fans of middlemen, which is what centralized exchanges bring to the table.
HOSWAP, An Exciting Prospect
HALO Network, a new blockchain, has a decentralized exchange, HOSWAP, that serves users on that network. Though a greenhorn amongst DEXs, HOSWAP takes on a refreshing perspective in a space laden with unoriginal crypto exchanges.
The HALO Network's main DEX has unique features that many are yet to take advantage of. It’s largely undervalued, which is an open secret considering the price of the DEX’s native token until recently.
Why HOSWAP Is The Go-to DEX For The Future
As hinted earlier, HALO Network’s main DEX has some exciting features that will satiate the need of users worldwide. These features have slowly gained visibility as reflected in the price appreciation of HOS, HOSWAP’s native token.
Here are some of the features of HOSWAP that should deliver the goods in the DEX’s favor:
Cross-chain LP Function
A lot has been said about utilizing LP tokens across different chains, but it’s HOSWAP that has done something to that effect. The launch of the decentralized exchange’s cross-chain LP function hasn’t received the attention it deserved, but that will change. For a feature that allows maximizing returns depending on what chain has the most favorable ROI, the cross-chain LP function that HOSWAP has integrated is still massively underutilized. We believe this has started to change, especially as the DEX expands its services to the BNB Smart Chain.
Fewer Liquidity Pools, Better Rewards
Most DEXs offer an assortment of liquidity pools with the aim of catering to the needs of the many; HOSWAP settles for the less is more option. The HALO Network main DEX has few liquidity pools that offer better returns on average. With more ROI on the table, users will get more out of the pools on the DEX compared to what’s obtainable elsewhere. The newly integrated cross-chain LP function serves as the icing on an otherwise sweetened cake.
As HOSWAP gets some traction, the demand for its native token, HOS, increases. This explains the hike in the price of HOS. More people are starting to take note of the enormous potential of the DEX, hence the acquisition of HOS.
Holding HOS tokens allows you to vote on proposals regarding the running of the DEX. The recent surge in price might be linked to the latest proposal to expand HOSWAP coverage to include the BNB Smart Chain.
HOS can also be staked on the relevant liquidity pool on HOSWAP. With the enticing APR obtainable by staking HOS in that liquidity pool, that’s ample reason to stack up HOS tokens. The result is a pump in the price of the DEX’s native token.
HOSWAP Expands To BNB Smart Chain (BSC)
HALO Network’s main DEX, HOSWAP, is expanding to the BSC in a move that’s targeted at putting the eccentric crypto exchange in front of more faces. Everyone knows how popular the BSC has become thanks to the towering influence of the centralized crypto exchange, Binance.
With the launch of HOSWAP on BSC, HALO Network spreads its tentacles into more potentially rewarding areas. Once more users recognize the efficacy and simplicity of the DEX, they’re bound to stick around for the long haul.
The expansion to the BSC signals the DeFi intentions of HOSWAP. With the DEX launching on that chain, this should be good for decentralized finance. HALO Network will also get noticed thanks to a projected growth that will see the blockchain step up and be counted.
HOSWAP spreading into the BSC brings a lot of benefits to the DEX and the chain as well. It’s certainly a calculated move that should see the HALO Network brand dazzle in the spotlight.
It’s worth mentioning that more DEXs will be onboarded on HALO Network and expanded to the BSC in the future. Of course, the success of HOSWAP’s expansion will decide the practicability of such a move.
At the moment, HOSWAP is an underdog with potential. The great thing about the DeFi space is that one’s status can change in a second. Once people recognize the numerous features of the DEX and its role in the functionality of HALO Network, then HOSWAP moves from underdog to a big-time player. An increase in user base is what the DEX needs, and HOSWAP has what it takes to command the required numbers.
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