The 2gether platform announced that it already has more than a million dollars in liquidity in new pools for the 2GT token, which is spread across four decentralized exchanges (DEX). The company’s goal is therefore to further improve the knowledge, accessibility, liquidity and utility of its token. This was reported by a statement from Spain.
One month after the issue of the 2GT, The token is now available from Uniswap with a liquidity of USD 620,000, Balancer with USD 200,000, 1 inch with USD 100,000 and SushiSwap with USD 85,000.
Ramón Ferraz, CEO of 2gether, said: “In March 2021 we took an important step in our mission with the issue of the 2GT token, the engine of 2gether. A token co-created with the company to enable a collaborative model that shares the value that is generated among its founders and that has become more useful since its birth.
What is a DEX (decentralized exchange) aggregator and what is it used for?
A decentralized exchange (DEX) is a peer network exchange (p2p) that allows you to trade various tokens. It works directly on the blockchain using smart contracts without the intervention of an institutional authority. This way, users can have control over their assets.
In addition, DEXs do not require the complicated registration processes used by central exchanges. Currently, the most widely used DEXs work on the Ethereum network and make up 75% of the total.
When tokens are traded on multiple DEXs, it can be difficult to find the best price before executing a trade. A DEX aggregator combines the liquidity of multiple DEXs and compares slippage, interest rates, and prices to help users decide better execution.
Why 1 inch?
From the start, they indicated that the four new decentralized exchanges would facilitate the creation of a virtuous circle that would benefit their entire community.
In the case of 1 inch, it is one of the largest DEX aggregators on the market with 2GT already on its whitelist. Thanks to the advantages that this platform offers, 2GT owners can take advantage of the 1-inch architecture and get the best possible exchange rate.
Also, 1 inch has its own GasToken called Chi. This GasToken is intended to be bought when gas prices are low and used when gas prices are increasing to lower the price per transaction. When used correctly, the Chi GasToken can save up to 40% on transaction costs, ”they added.
How does this affect 2GT?
to????Operating at 1 inch is a very interesting alternative to operating with the 2GT token as it gives users the best possible execution and reduces the transaction costs that the Ethereum network currently has. In addition, it helps the 2GT token become visible in the cryptocurrency community, attract new operators and serve as a reference for comparing trade routesthey concluded in the statement.
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