OKX Integrates Uniswap API to Offer Gas-Free Trading
The cryptocurrency exchange, OKX, has integrated the Uniswap Labs application programming interface (API) into its decentralized exchange (DEX). This integration allows for gas-free trading through a feature called ‘Snap’.
Jason Lau, Director of Innovation at OKX, presented this innovation as a solution to common issues in decentralized finance (DeFi) such as slippage, MEV attacks, and transaction failures.
How Does Gas-Free Trading Work?
This innovation relies on a new model where liquidity providers cover the fees, allowing users to avoid paying gas fees. The integration with Uniswap provides access to the UniswapX protocol and connects the OKX DEX to its liquidity, ensuring decentralized token exchanges that are simpler and fee-free for users.
This integration offers DeFi users access to a new source of liquidity, ensuring they receive the exact estimated number of tokens and eliminating issues like slippage and MEV sandwich attacks by bots. Lau emphasizes that this feature is part of OKX’s broader efforts to expand its users’ access to ‘all on-chain use cases’.
Update and Interoperability with Uniswap
In addition to eliminating gas fees through the Uniswap API, OKX has also announced that users of its wallet can now find their wallet in the Uniswap interface through the Multi-Injected Provider Discovery update on Ethereum, based on EIP-6963.
This means that OKX wallet users can directly connect their wallet to Uniswap for activities such as cryptocurrency exchange, NFT trading, participation in liquidity pools, and DApp development.
