ZeroSwap is a decentralized exchange aggregator protocol that provides support to multiple chains. The platform is offering gasless transactions and zero trading fees to its users. Apart from this, it also offers liquidity mining, DeFi token offerings, DEX aggregation, and a market-making suite available for its users.
Currently, it provides support to Ethereum, Binance Smart Chain, and Elrond. The platform is planning to extend its support to other networks in near future. ZeroSwap also rewards its users for making on-chain transactions and providing liquidity on AMMs.
IMPORTANT: The platform doesn’t offer gasless transactions completely. The platform fee is free, but users are required to pay for the network charges. The gasless function is applicable only for the ZEE DEX and not for the ETH-BSC bridge. That means if you are using the ETH-BSC bridge, you have to pay for the gas charges.
- Gasless transactions
- Zero trading fees
- Support to multiple chains (ETH, BSC, and Elrond)
- Transparent and fair DEX Offering platform
- Rewards from trading and liquidity mining
- DEX aggregation
- Easy integration with existing workflows
Below are the products currently supported by the ZeroSwap protocol:
- ZeeDO – It is a DEX Offering platform that will allow new projects to launch tokens on multiple chains. The ZeeDO platform offers multiple benefits:
- Instant Trading: Participants can start trading on the tokens once the project launches them.
- Lower Cost
- Open and Fair Fund Raising: Equal opportunity to all the participants in the token distribution. The platform also uses an algorithm that monitors the entire launch and token distribution process.
- ETH to BSC Bridge – Bi-directional bridge that allows ZEE token holders to convert their ZEE ERC-20 tokens into ZEE BEP20 (Binance Smart Chain) standard.
- Staking – Users can earn rewards from staking their $ZEE token. Token stakeholders can also participate in ZeeDO token sales.
- Exchange – On-chain exchange with zero fees and gasless transactions.
Comparison With Other DEXes
Now let us compare ZeroSwap with Uniswap, which has recently surpassed Coinbase in terms of the daily trading volume a number of times.
- Uniswap supports only Ethereum whereas ZeroSwap supports Ethereum, Binance Smart Chain, and Elrond.
- Uniswap charges a .30% trading fee, but you can do trading with ZeroSwap for free.
- ZeroSwap offers gasless transactions, but a simple transaction with Uniswap will cost you around $40-$50.
Below is the comparison chart with other DEXes:
How Is ZeroSwap Offering Zero-Fee or Gasless Transactions?
As per the details mentioned in the AMA, the project team has mentioned that to achieve gasless transactions, the initial gas charges will be paid by the project once the trading starts. The project has raised a fund of 6,000 ETH, out of which they have kept 1,000 ETH to pay for the gas charges. Also, with every transaction, transaction fee mining $ZEE tokens will be generated. These tokens will be utilized to pay for the gas charges once the reserve of 1,000 ETH is exhausted. Thus, instead of charging a fee from users, ZeroSwap is focusing on other sources for the smooth functioning of the protocol in the long run.
ZEE is the native token of the ZeroSwap platform. The token has multiple utilities:
- Liquidity mining
- DEX token offering
- Transaction fee mining
Below are the token metrics for the ZEE token:
Considering the current scenario where crypto users are over-burdened with high gas costs, ZeroSwap comes with a USP that will definitely catch the eye of crypto users with its primary goal on gasless transactions and zero trading fees. Support to multiple chains, liquidity mining, and DTO offerings is an added quality that makes the project strong. Now, the biggest question arises. How has the project planned to offer gasless transactions in the long run? How long will the reserve fund of 1,000 ETH be able to fuel the free transactions? Also, will the amount of ZEE tokens generated as a transaction mining fee be sufficient both in number and value to support the protocol running in the future? The exact scenario will be evaluated completely when the project progresses in the near future.
Resources: ZeroSwap Lite Paper