Nowadays Decentralized Finance (DeFi) is brimming with opportunities for investors. It has opened a world of freedom and new possibilities for crypto enthusiasts to strive in the community. DeFi sectors eliminate the need for any intermediaries and provide various other benefits to the investors. Decentralized exchanges have become a central need of the crypto industry. Even though they offer various services, sometimes they become vulnerable to security issues and higher transaction fees. There are times when the DEX platform finds it difficult to deal with various complex tasks. Compared to centralized exchanges, decentralized exchanges have to consider thousands of metrics and protocols. To deal with such problems, a new generation smart DeFi tool has been introduced called the DEXTools. This article aims to introduce DEXTools and its working mechanisms.
What is DEXTools?
DEXToosl can be considered a service tool of Decentralized Finance (DeFi) that focuses on providing real-time insights into the decentralized markets. It offers a solution to various problems like fragmented data and sudden price movements. These factors could cause a barrier to making accurate decisions and can impact the entire trading process. DEXTools contains various trading tools that help to navigate past through all these challenges and inconveniences.
This service tool was launched as a public beta in June 2020. Technological and financial experts Javier Palomino and Pablo Ojanguren were the founding figures behind DEXTools. Their main goal was to make the DeFi platforms more user-friendly and accessible to investors. DEXTools provides a complete view of the decentralized market thus helping the users to make informed and real-time decisions. This tool helps investors to stay ahead of the price movements in the market and make the right decision.
The platform offers a user-friendly interface and contains trading analytics, a liquidity pool explorer, and live price charts on market trends. It acts as a guidebook to get a better understanding of the complex processes. Even though DEXTools started as a small project, the platform now supports over 105 cryptocurrencies with a large supporting community and followers.
Key Features of DEXTools
Trading Analytics: These tools provide immediate access to the current market data to help users make healthy decisions.
Pool Explorer: Pool Explorer is an essential tool that gives valuable insights into liquidity pools. This helps traders to have an idea about the current stability of the market.
Trading Pair Explorer: Traders can utilize this tool to know about the most active trading pairs, their price movements, and past performance levels.
Wallet Tracker: This is a valuable tool that helps traders to keep track of their wallets. It features the holdings in the wallets and also presents the transaction details.
DEXTools Academy: It acts as a help book that offers various information and tips that help traders improve their skills for trading. This feature contains tutorials that are helpful for both advanced and novice traders.
Large Swap Explorer: The tool alerts traders about sudden shifts in the market. These potential shifts can change the entire course of the trading process.
How to Use DEXTools?
Users have to connect their crypto wallet like MetaMask or Phantom to start using the DEXToolss services. The crypto wallets should be funded with some initial tokens. The process of connecting the crypto wallet is quite simple and involves clicking on the connect wallet option available on the DEXTools website. The platform then verifies the connection process for security purposes.
After completing the verification process, users are open to a wide range of plans offered by DEXTools. These plans can be chosen according to the needs and requirements of the users. The platform provides free plans that do not require any fees and offers most of the features. It is the best option for beginners. Then there are premium plans that offer detailed information, multi-channel price alerts, and various other advanced features.
Premium plans are mostly chosen by advanced traders who want to stay highly informed about price movements. Users can avail of the premium plan by staking DEXT tokens. If users do not want to pay the whole amount they can opt for monthly payments. DEXTools provides the best services for both advanced and novice traders. Such service tools can help traders to lead a successful trading process.
The Bottom Line
DEXTools can be considered a significant service platform for exploring the DeFi ecosystem. It makes the trading process much easier for a user trading on decentralized platforms. Traders can stay informed about the market and make the right decisions using DEXTools. The future of DEXTools looks promising as the platform is geared up to introduce new features for providing more valuable services to traders. DEXTools has become an essential part of the DeFi ecosystem with its user-friendly interface, advanced features, and services. As the DeFi sphere continues to grow, the significance of DEXTools will also increase rapidly.
