Exchange infrastructure provider 0x has released its newest iteration of Matcha, a decentralized exchange (DEX) aggregator, which incorporates several features focused on enhancing the trading experience for users.
Matcha rolled out a new transaction mode for users called “Matcha Auto” that makes transactions twice as likely to be included in the next immediate block whilst reducing the chances of a failed transaction trade.
Additionally, Matcha’s DEX liquidity sources jumped 47%, while the number of tokens indexed on the platform skyrocketed from 11,000 to 3.7 million tokens.
Each decentralized exchange has varying prices for crypto assets, as the price for ETH may differ between Uniswap and SushiSwap. A DEX aggregator compiles the prices of a crypto asset from multiple exchanges and lets users find the best price for their trading.
Matcha compares all the prices across different markets for users and “finds intelligent ways to chop your trade into pieces to route chunks of it to different markets to achieve the best price,” said co-founder Will Warren to CoinDesk.
According to 0x Protocol Explorer, Matcha in the past 30 days had roughly 16,900 users and 60,310 trades at press time. Total volume in the same time period currently stands at nearly $529 million, with an average trade size of $8,760.
“In a world where there are billions of tokens, there are dozens of different blockchain networks and there are hundreds of different decentralized exchanges scattered across them, figuring out where to go, in order to buy or sell a token and get the best price gets more and more complicated,” added Warren. Aggregation and providing a multichain product like Matcha is “going to become more and more valuable for users over time.”
