Bebop Joins Polygon on Ethereum
The most awaited moment came for Bebop when this decentralized exchange was able to successfully join the Ethereum-based decentralized finance (DeFi) project called Polygon.
The newly sent live DeFi exchange, Bebop, is founded by Wintermute which too is a globally renowned crypto trading platform.
The purpose of launching Bebop is to make DeFi access user-friendly, and difficult and most importantly to invite newbies into the system.
Variety of Features
To fulfilling its objective, Bebop will be introducing a variety of unique features.
The foremost prominent feature of Bebop is that it is extremely user-friendly, conveniently accessible, and comes with only a few click buttons.
On the other hand, the project debars users from pouring liquidities and hence there is no option pertaining to any ‘yield-earning’.
This is because the DeFi exchange is not similar to that of Sushiswap or Uniswap which are primarily known to be ‘automated market makers (AMMs)’.
No Option for Liquidity Right Now
The only way in which liquidity can be brought in by the users is through professional market making. However, Bebop intends to introduce a variety of liquidity options in the future, which may include amongst others AMMs.
Katia Banina, who is the Head of Products at Bebop, told Decrypt that they would be introducing more liquidity options in the future. Currently, their focus is to attract more users into the system, said Banina.
Under the AMM arrangement, the scheme allows users to generate income on particular digital coins through liquidity insertion.
This option was designed to incentivize the users each time when they carry out a sway of any pair of crypto coins.
Seamless Execution Focused
In contrast to this arrangement, Bebop will encourage market makers in ensuring the seamless and smooth execution of trade transactions.
An executive of Wintermute stated that currently, Bebop has a total of 60 platforms from which liquidity can be brought into.
The executive further said that the project intends to bring on board further liquidity platforms which shall be notified in due course.
Mostly in the AMM project, one of the major problems relates to slippage which is caused due to slick interface.
Bebop, however, does not anticipate occurring of slippage because, in contrast to the slick interface, Bebop’s interface is extremely smooth.
As regards the slippage issue, Banina said that Bebop shall be providing its users with a fully slippage-free platform. She said that their project will ensure smooth and efficient delivery and execution of trade transactions.
She also discussed the users’ costs and said that the fees are minimal and below the average costs charged as per DeFi market standards.
Lastly, the project offers an entirely unique two-fold trade feature called ‘one-to-many’ and ‘many-to-one’.
The two features will empower the users in consolidating their multiple tokens into one in a single click.