Announcing its partnership with ParaSwap, Pangolin stated that it’s looking forward to a mutually beneficial relationship with ParaSwap. The distinctive competence of ParaSwap lies in its ability to aggregate services related to decentralized finance (DeFi) in one single comprehensive package that users can use during their interaction on the Ethereum network. In fact, ParaSwap is quite popular among other blockchain networks and has recently made its appearance on Avalanche via the Rush Program of the blockchain.
By this partnership, Pangolin will become a part of the ParaSwap platform. This will allow users of the platform access to the best exchange rates, thanks to the new-age technology of Pangolin. Powered by the cutting-edge invention that considers data from a large number of decentralized exchanges (DEXs), ParaSwap puts out the best cost-effective option for traders in the DeFi domain. This is particularly useful for the traders who are open to using different swapping methods to come up with the lowest possible slippage for their trades.
The broader expansion ambition of ParaSwap is quite evident because it is entering into partnerships across the industry. The recent boom in the popularity of DeFi also explains the growing importance of ParaSwap. Experts in the crypto domain are particularly impressed by the growth of the platform in recent times. More importantly, the future growth prospects of ParaSwap are promising as the DeFi segment is touted to become the next growth engine for the industry. This means more traders will gravitate towards the segment, and ParaSwap will get its share of the pie. It’ll be interesting to witness how this partnership proves beneficial for both companies and the addition – both in terms of the number of users and profitability – this association will ultimately result in.