Millions of people are experiencing massive advancements in the financial field. The change, mainly triggered by the introduction of cryptocurrencies and decentralized finance, is attracting retail and institutional investors from around the world. Due to this reason, individuals are actively interacting with the digital asset ecosystem to have a taste of financial freedom.
Developers and tech experts are also leading the way in providing innovative infrastructure that helps steer this upcoming economy. As the DeFi sector grows, it becomes increasingly hard to track useful data that can aid investors and traders. DEXTools, a decentralized tool for users, addresses this problem with its analytical capabilities that help traders capitalize on market situations.
What is DEXTools?
DEXTools represents a decentralized application that delivers a unique set of solutions to traders. The DApp was founded by Frederic Fernandez and Javier Palomino in 2020.
Essentially, the platform gives traders a comprehensive view of their trades, investments, and real-time market analysis. It’s able to offer such services by incorporating blockchain data into a single interface.
At DEXTools, traders can examine, manage, and perform trades from one interface. Therefore, users leverage these features to trade on decentralized exchanges like Uniswap and PancakeSwap.
How DEXTools Works
DEXTools has several features in store, one of them being the atomic swap solution. Ideally, this mechanism lets users trade their digital tokens on different blockchains without any third-party intervention. Hence, an atomic swap will let traders swap tokens without involving exchanges.
DEXTools borrows the same idea and allows traders to swap digital tokens on other chains through the ‘Multiswap’ tab. Users will need to indicate the exchange and the trading pair they would like to interact with using the Multiswap option. Thereafter, users can merge their digital wallets with exchanges like PancakeSwap, Uniswap, and Sushiswap.
DEXTools makes it easier to view the price charts of any trading pair found on the protocol. The platform also generates its charting infrastructure from TradingView, a prominent software for chart analysis. As such, traders can share their charts on the internet and access various chart options with the DEXTools DApp.
Getting Started on DEXTools
To get started on DEXTools, traders will need to set up their virtual wallets. Once the wallet is ready, users can connect it with the DEXTools DApp. Users have a wide array of wallets to choose from, which may include MetaMask, Fortmatic, and WalletLink, to mention but a few.
Notable Features
DEXTools has a number of functionalities that make them favorable to traders. The tools include:
Pair Explorer
The first tool is the pair explorer, a solution that lets traders monitor the history and price movement charts of particular tokens. Through a pair explorer, traders can track assets in real-time and their overall trust score to enforce transparency. This action ensures users are made aware of potential scams in the market. Premium and standard subscribers can further set up trading bots and limit orders through the pair explorer tool.
Pool Explorer
This tool helps notify traders of any new pool formed on decentralized exchanges. Traders can also keep up with the liquidity movements in each pool. In that regard, users are able to predict the token’s price movement based on the liquidity data.
Big Swap Explorer
Under this tool, users can easily determine the big trades taking place in an exchange. Essentially, the Big Swap Explorer enables traders to track crypto whales. These traders mainly take part in manipulating the market and digital tokens with insufficient liquidity.
Multiswap
The Multiswap option enables users to access multiple pairs on one screen. That way, traders can have a wide choice of tokens at their disposal.
Notifications
Traders can get price alerts of various tokens through their Email, Telegram, or desktop device. Timely notifications could help improve a user’s trading/investment strategy.
DEXT Share Passive Income
At DEXTool, DEXT holders can earn passive incomes through the DEXT Share initiative. In this system, the platform rewards token holders who have at least 100,000 DEXTs in their wallets.
These rewards come from dedicating 90% of the subscription fees to this program. Thus, DEXTools distributes the rewards to token holders through airdrops. The program is only committed to rewarding DEXT holders and not the platform’s team.
DEXTools as an Aggregator
An aggregator in the crypto industry refers to a protocol that combines trades from different exchanges into one platform. In essence, there exists multiple types of blockchains hosting a wide variety of projects. While it may be beneficial to have these protocols, crucial financial data may become challenging to access as they are widely spread.
Aggregators address this issue by extracting and displaying the best prices from liquidity pools and DEXs. Instead of comparing prices, users can rely on aggregators to get the best deal. DEXTools adopts a similar approach whereby users can trade directly on various decentralized exchanges. This strategy helps traders maximize profits and mitigate high swapping fees.
Are There Subscription Fees?
New users can access the basic functionalities offered by DEXTools through their desktops or mobile phones. These offerings are found on the platform’s web browser and users will not be required to install anything.
On the free plan, traders can get functionalities like pool/pair explorers, an aggregator, price alerts, and real-time data. A standard and premium subscription is also available with additional features that may not be accessible to those with a free plan. These subscriptions need a minimum investment of DEXT, the platform’s native digital token.
In the standard subscription, traders are required to pay 277 DEXTs per month or hold 1,000 DEXTs. The standard package comes with services like a trading bot, access to the DEXTForce Discord platform, Telegram price notifications, and a wallet tracker.
In the premium package, users only need to hold 100,000 DEXTs. Having a premium membership gives access to more exclusive features, real-time data, price alerts, and a trade analytics solution.
DEXT Token Details
As mentioned before, DEXT works as the native digital token that empowers DEXTools. The token is currently trading at $0.114 with a market cap of $11, 207,997.
Initially, DEXT launched with a total supply of 200M coins in June 2020. From the 200M coins, 50% of the team’s funds were burnt, reducing the total circulation to 150M DEXTs. The platform also burns 10% of the subscription fees paid by users in DEXTs every month. This fact makes DEXT a deflationary token that takes advantage of demand and supply.
It is worth noting that burning helps decentralized platforms to maintain a valuable asset. Essentially, the project achieves this idea by deliberately removing a certain number of tokens from circulation. That way, a native asset will gain value from its scarcity and high demand. At the time of writing, DEXTools has close to 98M tokens available in the market.
Why I Should Use DEXTools
Undoubtedly, DEXTools helps deliver a set of solutions that are useful to new and advanced traders. Individuals can leverage the platform’s tools due to the following reasons:
Charts and Token Stats
Users can access the charts and token details of various digital assets. The charts mainly display a token’s price movement depending on the set timeline. Tokenomics is yet another crucial data that users can access. This information helps investors to explore a token’s coin supply, allocation, and liquidity, to mention but a few.
Precise Pricing
In most cases, analytical websites may fail to update the real-time prices of tokens. As such, a slight delay of an asset could affect an investor’s position in the market. One of DEXTools’ main functionalities is relaying the real-time price of any digital token. This advantage could uplift an investor’s confidence as they trade on DEXTools. More importantly, users may save their investments against highly unstable virtual assets.
Price Alerts and Trending Tokens
As mentioned earlier, users can get price updates through their mobile and desktop devices. Asides from that, DEXTools alerts traders on the most trending tokens in the market. That way, traders can decide whether they can join an ongoing trend or monitor the flow of funds. Moreover, users have a choice of selecting a trending token from any DEX platform.
A Transaction Tab
DEXTools lets users access the transactions of a particular digital token. The transaction tab includes details like wallet addresses, the amount of tokens bought/sold, and many more. These details reside on a blockchain network and DEXTools displays them in real-time. Traders can also view their transactions from the transaction tab.
Users Control Their Holdings
Decentralization lies at the core of DEXTools as users are in charge of their assets while trading. This fact means that the protocol is not under any central authority and traders can swap tokens in a peer-to-peer ecosystem. Users only need a wallet address to transact, making it a fully decentralized platform with no mandatory identity verifications.
DEXTools Academy
More often than not, new users may have a hard time understanding several concepts used in the crypto space. DEXTools hopes to narrow this barrier with the DEXTools Academy channel on YouTube. On the channel, new users can access topics and tutorials like:
- Buying and selling NFTs on OpenSea
- Governance and Decentralized Autonomous Organizations (DAOs)
- Buying crypto on DEXTools and how to avoid crypto scams
- Fundamental and technical analysis for trading cryptocurrencies
- The metaverse and the Ethereum merge.
Final Word
Achieving the best results in crypto trading requires accurate and relevant data. As an analytics platform, DEXTools plans to make this idea possible with its innovative solutions. For one, the platform acts as an aggregator which allows users to trade on different DEXs. What’s more, users can interact with multiple digital tokens and liquidity pools from one interface.
The DeFi economy is still expanding as more digital tokens and platforms are emerging in this market. It, therefore, makes it necessary to have insightful tools which aid in making informed investment decisions.