BAMBOO RELAY: NEW DEX FOR SMART TRADERS

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Decentralized exchange options become broader every day, enabling cryptocurrency investors to use different ways to both invest or borrow/lend assets using the DeFi ecosystem as the main background.

Bamboo Relay is a DEX that brings several core advantages to users, with low fees and innovative deposit methods.

HOW DOES IT WORK?

Bamboo Relay is a DEX (decentralized exchange), integrated with 0x protocol and bZx as well. It is a relayer built on Ethereum that allows users to trade several ERC20 tokens.

Users can engage in margin trading and borrow and lending of cryptocurrency assets, all within a single place on a fully decentralized ecosystem.

To connect with the platform, users must have a web3 compatible wallet (like MetaMask for example).

According to the team behind the idea, the main mission of the project is to empower users to take control of their destiny and demolish barriers like any sort of middleman and rent-seekers.

Users are free to trade cryptocurrencies like WETH, DAI, USDT, and USDC, just to name a few.

WHY IS IT INTERESTING FOR DEFI USERS?

Every day more and more people choose to switch from common asset exchanges to decentralized exchanges (DEXs) and it can be easily explained.

DEXs have a remarkable focus on security and privacy, which allows freedom of use along with sustainable profits, having as its’ main foundation the blockchain and the P2P philosophy.

Decentralized platforms do not require a third party (centralized control) to store user’s funds, hence the control of assets and value remains in the hands of the ones they must be in.

Users can make direct transactions, with whoever wants to buy or sell crypto assets, whenever they want.

Another main concern all over the main net today is the control of personal information. With recurrent episodes of hacks and data-stealing, users who invest online are in constant fear of some possible attack.

DEXs usually do not require any personal info, which makes it possible for users to have absolute privacy and no risk of info leaks.

EVERYBODY HATES FEES:

The platform has fees that can be considered below or equal with the industry average, which has historically been around 0.25%, decreasing to 0.15% so far.

Here, the trading fee for takers is 0.20%, while makers pay a 0.10% fee. The difference is because makers have a special discount, which allows them to pay just half of the taker’s fee.

Withdrawal fees do not exist here, but we must notice that orders other than 0x or Ethereum may include standard network fees.

Looking at the naked eye, Bamboo Relays’ fees have a competitive edge among other DEXs available in the market.

UNIQUE DEPOSIT METHOD:

It is not usual that DEXs allow users to make deposits using fiat currency.

Bamboo Relay is a great exception, permitting users to make deposits within the platform via credit card (although deposits via wise transfer are not accepted).

This unique feature was made possible through an integration with Carbon, a well-known digital manufacturing platform.

A good thing about it is that people that are just beginning to invest in cryptocurrency assets may have an easier entry, allowing more and more people to take part in the decentralized finance world.

IS BAMBOO RELAY SECURE?

Server security is also another good pro-DEXs point, as their servers spread out across the globe, which makes it ridiculously hard to attack and decreases risks of server downtime as well. DEXs can be considered immune to hackers and cyber-pirates’ attacks.

Assets safety is also ensured, cause the exchange itself never touches users’ assets. So even if a hacker could make it through the system, he would never be able to steal the assets anyway.

On Bamboo Relay, users’ assets are held until they want to withdraw it to their private wallets.

CONCLUSION:

Bamboo Relay is an Ethereum-based relayer that works as a decentralized exchange to trade cryptocurrency assets.

Among its advantages, we can highlight low/regular fees and the possibility of making deposits using fiat currency via credit card.

The vision behind the project is to empower users through blockchain technology, helping them to be in full control of their crypto assets with no centralized control at all.

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