Zenlink is a prime cross-chain DEX based on Polkadot and is dedicated to becoming the DEX composable hub of polkadot. The platform’s protocol features WASM, Module, and EVM implementations that are both flexible and adjustable, making it possible to customize compositions and interoperability with various DeFi modules.
Zenlink overview
Find below the components of Zenlink:
- Composable hub
This feature enables programmers to access the Zenlink DEX Module to create their own distinctive DEXs, creating a DEX composable hub for the Polkadot ecosystem.
- Zenlink SlotVault
The component aims to support more parachain projects bidding slots and to meet the demand for other non-parachain projects to take part in PLO.
- Trade mining
Zenlink supports trade mining so as to encourage more users to trade on it.
- X-Transfer
X-Transfer is a new feature that Zenlink has added to integrate cross-chain and token transfer functionalities so as to provide huge convenience for the community.
How does Zenlink work?
There are several activities that you can carry out while using this DEX. These include:
- Trade tokens
- Add liquidity
- Yield farms
What can you buy on Zenlink?
These are some of the coins you can trade on this ecosystem:
- Moonriver
- ZLK
- KAR
- USDC
- DAI
- BUSD
- USDT
- ETH
- WBTC
- BNB
- madWETH
- madDAI
- GLMR
- ceUSDT
- FRAX
- FXS
- xcKAR
Is Zenlink safe?
Zenlink is said to have passed SlowMist’s smart contract security audit hence making it a secure platform for its users. The software is also inherently safe, given that it is a decentralized exchange. What do we mean by this? Well, it doesn’t have a central server which people with malicious intents can hack and obtain access to your funds. Furthermore, a smart contract is used to lock any funds you provide to a liquidity pool. The only factors that may put the software at security risk pertain to user errors.
Zenlink fees, compatible wallets, and transactions
Zenlink only supports a single wallet-Metamask. So, it may lock out traders who would want to have a variety of wallets to choose from. At the moment, the maximum transaction fee charged on users is 0.3% of the amount of each transaction. Depending on the situation at hand, the transaction fee of different parachains may be in different tokens. Therefore, the transaction fee fund pool may theoretically have multiple tokens.
What are the ways to trade on Zenlink?
- Liquidity provision
As of now, the DEX has developed 2 liquidity pools: TKSM/TUSDT and TKSM/TMOVR, which you can switch for direct Swap operation.
- Farming
You can also stake tokens and continue to earn rewards until the rewards in your pool are completely released or you actively redeem your tokens. The devs indicate that the stake tokens must be ERC20 tokens (XC-20s), which can be LP tokens or single tokens. Many farming pools can be developed with one or more reward tokens and different “reward release rates.”
- Swap tokens
It is possible to swap tokens on this DEX to earn profits, especially when a token concurrently rises in value.
Customer support
If you have any questions regarding the service, you can contact the support team at their email. You can also join the Zenlink community through Twitter, Medium, Discord, or Telegram. These channels provide a platform for interacting with other users, even allowing you to post any questions you have about Zenlink and get invaluable feedback. Moreover, there are a number of resources, including user-guides and FAQs that you can capitalize on to comprehend the workings of the software.
Should you trade with Zenlink?
Zenlink summary
Zenlink summaryPros
- Fairly safe
- Offers several useful features
- Gives users a chance to earn rewards
Cons
- Only works with a single wallet
