Kromatika.Finance dApp will launch on Polygon to enable users to trade without swap fees, price slippage, and no front-running bots
Polygon is a full-stack scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on Ethereum-supported blockchains. Polygon’s ecosystem already contains the most famous DEX Uniswap which makes this a perfect fit for the Kromatika protocol. The addition of the Polygon network to the Kromatika protocol helps by bringing in new users and allowing them to invest in multiple chains.
Kromatika protocol integrates on top of UniswapV3 and now they are launching it on Polygon to allow Polygon users to utilize next-generation dex trading. The objective of integrating Kromatika into Polygon is to allow users to experience the comfort of optimizing limit orders without swap fees, price slippage, and front-running bots. Polygon users will now be able to use the Kromatika protocol to make profits on their trades.
The Kromatika protocol integrates against UniswapV3 and utilizes the liquidity pools to place limit orders. The innovative part is how this limit order is achieved. Instead of relying on a traditional swap to achieve a limit order, the Kromatika protocol uses one-sided concentrated liquidity on the pool to effectively achieve a limit order. Once a limit order is created the protocol places liquidity in the pool and once the price is reached the liquidity is removed effectively achieving a limit order execution. When a limit order is done in this way, users avoid swap fees, avoid price slippage, avoid front running bots and they don’t impact the price. On top of everything, they can earn liquidity provision rewards.
Given Polygon’s vibrant community Kromatika protocol aims to offer its full support and provide all future updates of the protocol to the Polygon’s commit chain. In this way, all Polygon’s traders will be able to experience and enjoy all the innovative trading features the Kromatika protocol has.
Kromatika Protocol is a decentralized trading protocol enabling crypto traders to do limit orders on top of Uniswap DEX. This alone is quite a useful Dapp by itself, but the real innovation is the ability to trade without any swap fees, without any price slippage, and with no risk of front-running bots.
The Kromatika protocol uses the Uniswap V3 feature of concentrated liquidity to enable traders to make limit order trades without swap fees. In the background, the user is providing liquidity to a pool until the price reaches the target for the specified limit order.
To power all of this, the $KROM token is a non-mintable ERC 20 token audited by OpenZeppelin and MythX. It has a supply of 100 million tokens and it is used as a fee token to enable users to trade crypto assets and pay the service fee in $KROM. The service fee on Kromatika is fixed, regardless of the amount swapped.
The Kromatika protocol code is open-source and hosted on GitHub under the GPLv3 license. They invite open-source contributors to join, help improve and support the growth of this protocol to push the project forward.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
Source : cryptodaily.io