OKX Adds Uniswap API to DEX, Launches Gas-Free Trading

Crypto exchange OKX integrates Uniswap Labs' Application Programming Interface (API) into a decentralized exchange (DEX) for gas-free trading through a feature called “Snap”.

Jason Lau, chief innovation officer of OKX, told Cointelegraph that the feature enables simple decentralized token exchange. Lau explained that the integration with Uniswap gives OKX DEX access to the UniswapX protocol and is linked to its liquidity.

When asked how the merger would allow for fee-free swaps, Lau explained that this would be done through a new model, with liquidity providers covering the fees. He believes that the process is convenient for users and allows some savings. He explained.

“By agreeing on a price and signing the transaction off-chain and settling the transaction on-chain, the users will not pay any gas fees because the liquid suppliers will pay the fees on the user's behalf.”

Lau believes that DeFi users will appreciate access to the UniswapX protocol, which will allow them to tap into a new source of liquidity. Lau also said that users will start receiving “the exact number of tokens they were quoted”. This means no more scams, Maximal Extractable Value (MEV) bot attacks and common headaches in the decentralized finance (DeFi) space.

Lau believes this will complement their other offerings and mentions that this launch is part of their broader efforts to expand their user reach to “all use cases across the chain.” They said that they are happy to develop more and add functionality from time to time and urged users to give them their feedback.

Related: Uniswap DEX to launch web wallet extension

In addition to eliminating gas fees through the API, OKX announced that its wallet users can now access their wallets in the Uniswap interface thanks to a multi-injector vendor discovery update on Ethereum based on the Ethereum Improvement Proposal (EIP). 6963

OKX highlighted that this applies to all browser extension wallets, meaning OKX wallet users can connect their wallets directly to Uniswap and perform activities such as crypto exchanges, trading non-fungible tokens (NFTs), participating in liquidity pools and building decentralized applications (DApps). .

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