Verse DEX is Bitcoin.com’s official decentralized exchange. It provides anyone in the world a secure way to permissionlessly swap cryptocurrencies without having to rely on third-party custodians. You can also earn yield by providing liquidity to the Verse DEX and by depositing liquidity pool (LP) tokens into Verse Farms.
Use the multichain Bitcoin.com Wallet app, trusted by millions to safely and easily send, receive, buy, sell, trade, use, and manage Bitcoin and the most popular cryptocurrencies. The app is also your gateway to the Bitcoin.com Verse ecosystem, including Verse DEX.
What is a DEX?
A decentralized exchange (DEX) is a type of exchange that specializes in peer-to-peer transactions of cryptocurrencies and digital assets. Unlike centralized exchanges (CEXs), DEXs do not require a trusted third party, or intermediary, to take custody of the assets nor facilitate their exchange. This is important because it eliminates risks such as that the intermediary will go bankrupt, steal funds, or censor transactions.
Verse DEX in Detail
The Verse DEX, which is a fork of Uniswap V2, uses the automated market maker (AMM) model for incentivizing the creation of pools of liquidity and enabling those pools to be algorithmically traded. Verse DEX smart contracts have been audited by industry-leading auditing firms 0xGuard and Certik. You can find the full reports here and you can find the smart contracts for the Verse DEX here.
Trading on Verse DEX
Verse DEX enables permissionless and low-fee trading between dozens of cryptocurrencies. The DEX charges 0.3% of the trade volume per token swap. 83.3% of that fee is given to liquidity providers while the remaining 16.7% goes to the protocol.
Trading is currently available on the Ethereum, Polygon, Avalanche, and BNB Smart Chain blockchains, but more chains are in the process of being added. You can trade any asset across those chains in just a few taps, with the DEX facilitating cross-chain transfers of your assets. This means can trade between thousands of cryptocurrencies using Verse DEX. Start trading now on the web at https://verse.bitcoin.com or in the Bitcoin.com Wallet app by tapping on Verse Explorer.
Earning by Providing Liquidity
You can provide liquidity to the Verse DEX by depositing assets into liquidity pools. You’ll earn yield in the form of the fees paid by people who trade the pair. The APY for each pool is displayed in the Analytics tab.
Earning by Depositing into Farms
You can deposit select Liquidity Pool (LP) tokens into Verse Farms to earn additional rewards on top of the trading fees you already earn by providing liquidity. These rewards are distributed as part of the Verse Ecosystem Incentives program.
Creating a New Trading Pair
Anyone can create a new trading pair on the Verse DEX by setting up a new liquidity pool with two assets.
Monitoring Analytics
The analytics section of the Verse DEX enables you to monitor data such as APY for trading pairs, total liquidity, and volume.
Cross-Chain Swaps
You can toggle between CEX and DEX modes. The centralized exchange enables cross-chain low fee swaps such as between BTC and ETH or BCH. Cross-chain swaps are facilitated by third-party partners, and to use this feature you will need to sign in to Verse DEX with your Bitcoin.com account.
