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OpenSwap’s New ‘Spot Price Queue’: A Game-Changer For On-Chain Swaps

OpenSwap’s New News
  • OpenSwap announces new ‘Spot Price Queue’ feature.
  • The Spot Price Queue guarantees zero slippage for crypto swaps.
  • The OpenSwap’s new feature will go live from October 25, 2021.

The beauty of technology is that it creates room for more innovations and advancement. Particularly, OpenSwap aims for its users to experience revolutionary benefits through optimization. With that in mind, the one-stop DeFi hub announces a new feature  — Spot Price Queue.

The new Spot Price Queue feature which the OpenSwap team says will be available from October 25 is envisioned to be a game-changer for on-chain swaps. The Spot Price Queue feature guarantees zero slippage and spot market price execution for crypto traders. Conversely, with the standard AMM architecture, traders have nearly zero guarantees of what the final price of their trade will be.

Speaking on the new Spot Price Queue, OpenSwap CEO, Bruce Chau said,

On-chain transactions and AMMs lack the flexibility and choice of centralized exchanges,” says Bruce Chau, CEO of OpenSwap. “OpenSwap’s objective is to solve these inefficiencies in the DeFi ecosystems by introducing new technologies and concepts such as our liquidity queues, a way to introduce the flexibility of order books without the associated transaction costs.

Spot Price Queue is one of OpenSwap’s products. The new feature is created for token pairs that already have liquid off-chain spot markets. For this reason, Spot Price Queue uses secure oracles through its Secure Adaptor Protocol, an oracle controller module that protects against sudden price hikes, front-running, manipulation.

To cater to all crypto traders, the Spot Price Queue comes in two varieties. One of which is designed for traders who need to exit their position quickly which is dubbed the Spot Priority Queue. In that way, Spot Priority Queue executes single-price transactions ordered by the trader’s desired priority, which is expressed by staking OSWAP.

Whilst, the other, named Spot Range Queue is meant for low time-preference traders. With this, liquidity providers can set price brackets to make their liquidity available for sale. This is designed for low-priority trades common to high timeframe traders, who are more interested in being generally right rather than catching the precise bottom or top.

In addition to the above-mentioned, OpenSwap is planning to release other liquidity queue types in the next few weeks. To mention a few, the Restricted Group Queue, is an “anti-rugpull” system, which offers protection for participants in Initial DEX Offerings (IDO) by avoiding them from total loss due to failure to list or the team running away with the money.

The new Spot Price Queue feature comes right after OpenSwap launched other unique features. These include Liquidity Queues, Hybrid Routing, Inter-Chain Liquidity Swaps, and DEX Aggregator, all on one platform.

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