The Expedia of DEXes

by Chris Coney
By Chris Coney

In a previous Weiss Crypto Daily, I wrote about the need for simplification when a concept gets too complicated.

And funny enough, right around the time I wrote that article, DeFi Llama implemented a new feature directly applicable to that concept.

You’re probably familiar with Expedia (EXPE) or Skyscanner, whose websites allow you to input your desired travel details and then compare airfare, hotel and car rental prices.

While these are colloquially known as price comparison sites, from a technical perspective, they can be called aggregators … because that is exactly what they do.

Nowadays, there’s so many travel options out there, which can complicate the process of finding the best deals.

That is why these sites aim to automate the time-consuming process of shopping around by aggregating travel options and displaying them in one place.

Your Capital Flight

Capital is flying around the DeFi sector all the time.

The question is whether it is getting the best rates and if it is taking the best routes.

Enter DeFi Llama, a popular site that aggregates data from across the DeFi sector.

Until now, DeFi Llama has largely been a place to reference data without the ability to act on it at the same time.

That changed with the introduction of the DeFi Llama Meta-Aggregator decentralized exchange, which can be found here.

Just like the travel sites I have mentioned, with the Meta-Aggregator, you can enter the chain you are using, the tokens you want to swap, plus the amount and DeFi Llama will automatically pull in quotes from a variety of DEXes.

Click here to see full-sized image.

 

It returns the results in a sorted list down the right-hand side under the heading “Routes.”

In each result it displays:

•   The value of the asset you’ll receive in USD;

•   The percent variation from the best price;

•   The transaction cost;

•   The amount of the asset you’ll receive;

•   And the actual DEX the swap will be done on.

Most of the results are redundant, since you will probably just want the best rate that appears at the top.

Taking up that offer is also incredibly easy. Simply click on it and then run that transaction as normal.

An Extra Face

I have written previously about how DeFi apps have two major components:

1. The smart contract that is deployed on the blockchain …

2. And a web-based user interface that allows you to interact with it.

Typically, the smart-contract developers provide the initial user interface to get it off the ground. But before long, other developers will start building their own user interfaces.

This not only provides greater variety for users, but it also increases decentralization.

If, say, the main Uniswap (UNI, Tech/Adoption Grade “B”) website were taken offline for any reason, you and I could simply switch to using any one of a dozen other interfaces, including the DeFi Llama Meta-Aggregator.

It goes further than that, though.

DeFi Llama is now providing an additional way to access dozens of DEXes across the whole DeFi space, and that is good news for everyone.

Conclusion

This is the benefit of having a radically open financial platform like DeFi: It allows anyone with a bright idea to innovate.

That is also the benefit of money as a protocol because a protocol is something others can build on.

This is a great new tool from DeFi Llama and an example of many more innovations to come from the ambitious DeFi community.

But that is all I’ve got for you today. Let me know what you think about this convenient DEX aggregator by tweeting @WeissCrypto.

I will catch you here next week with another update.

Until then,

Chris Coney

About the DeFi & Crypto Educator

Chris Coney is among the world’s most experienced educators in the field of decentralized finance (DeFi) and cryptocurrencies. He is also one of the few analysts in the world specializing in the field of “yield farming” — hunting for the high yields now possible in the fast-growing DeFi world — and showing others how they can do the same.

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