Today at CryptoNewsZ, we are joined by Davinder Singh & Domendra Verma, Co-founders of RocketX, the World’s First Global Liquidity Aggregator that support Cross Chain Swaps & Token Transfers.
CryptoNewsZ: Hello Davinder & Domendra! It’s absolutely a pleasure to interview two dynamic & successful entrepreneurs in a highly competitive crypto market. What sparked the idea behind RocketX Exchange?
We (Davinder Singh & Domendra Verma) have been active in the crypto space for a few years now. We noticed that crypto exchanges are plagued with liquidity issues and at any given point of time the user never knows which exchange provides the best rate for the token. It is practically not possible and very inefficient to check each and every exchange for better rates. This leads to the rise to DEX aggregators like 1inch and 0x protocol. But there is no aggregator that also aggregates the global centralised exchanges like Binance, KuCoin, FTX, OKEX, Huobi etc which more often has higher liquidity and offers better prices & lower gas fee.
RocketX Exchange is born to address this problem faced by ourselves. We found an opportunity and started building RocketX.exchange which is the first aggregator of centralised & decentralised crypto exchanges to help users trade any token with best rates across exchanges. In short we are building the “Trivago for Crypto”
CryptoNewsZ: What makes RocketX Exchange stand out compared to other exchanges?
RocketX Exchange is the first to aggregate both centralised and decentralised crypto exchanges that also support Multi Chain Trade. Today there are so many networks and each network has so many DEXs, there is no way even an experienced trader would navigate multiple networks and DEXs to trade his favourite token. It is a nightmare for normal retail user to juggle between so many networks.
This is where RocketX exchange comes to the rescue, where it not only helps traders find best rates to Swap but also gives access to tokens across multiple networks via a single intuitive UI. Apart from Swaps within the same network, we also support Cross Chain Swaps and Bridge operations across multiple networks.
This means, RocketX.exchange is the ONLY dapp trader will ever need to trade ANY token across ANY network and ANY exchange with best rates.
CryptoNewsZ: How is RocketX Exchange able to provide the best rates in the market?
We are the first to aggregate both the centralised & decentralised crypto exchanges. Similar to Trivago which scans rates from every hotel service provider and makes it easy for the user to book hotels with best rates at that point in time, RocketX exchange scans through multiple exchanges (500+), both centralised & decentralised, to fetch the best rates for a specific token at a given point in time. The user can choose which exchange to route the swap operation and complete the transaction in One-Click!
CryptoNewsZ: What is the CEX & DEX Aggregator Protocol and how will it shape trading in the future?
Today the CEX (centralised) & DEX (decentralised) exchanges exist in silos. While both have their own advantages and disadvantages, there is no way for the trader to get the best of both worlds. We at RocketX exchange are determined to give the best of both CEX & DEX via a single UI by aggregating them.
Aggregators are going to be the go-to platforms for crypto trading.
Though the volumes are higher on CEX at the moment, the volumes are catching up on DEXs too gradually.
DEXs’ and aggregators’ share by volume (weekly)
As you can see the DEX aggregators volume has been consistently on the rise.
CryptoNewsZ: What are your goals and hopes for the RocketX Exchange token utility?
The RocketX Exchange Token ($RVF) has multi-folded utility:
- Users can save on platform fees by holding $RVF tokens and even avail up to 100% discount based on the no. of tokens held by the user
- Users can also earn passive income by holding $RVF as we share 50% of the revenue with the token holders. The eligibility criteria is subject to change from time to time. Please follow the social channels to be updated to date with the latest T & C.
CryptoNewsZ: What additional features can we expect to see in the RocketX Exchange?
- Going forward we are determined to support all the major networks like BTC, ETH, DOGE, LTC etc and Cross Chain Swaps between all leading tokens with one-click.
- Very soon we will support both on/off ramping so that our users can directly buy/sell BTC, ETH and 10,000+ other crypto tokens via UPI/Bank transfer/Credit/Debit card. This feature will make our platform self-sufficient and reduce the dependency on centralised exchanges. Currently the user needs to first buy the crypto on centralised exchanges with fiat and then transfer tokens to user’s own wallets to be able to trade on decentralised exchanges.
CryptoNewsZ: What are important points do developers at RocketX Exchange while envisioning your future in the markets?
Our primary focus is to build an intuitive app that is user friendly and at the same time very secure. These 2 are our primary focus while developing the product.
CryptoNewsZ: What future trends do you see in the crypto trading market?
The DeFi market is picking up quickly and it will continue to do so. In 2021, the DEX trading volume increased from a mere $10B to $200B.
- to book a flight ticket, we use an aggregator
- to book a hotel, we use an aggregator
- to book a movie ticket, we use an aggregator
- to order food, we use an aggregator
- to book a taxi, we use an aggregator
Aggregators are going to be the go-to platform for crypto trading. There is absolutely no doubt about it. The aggregators that are going to help users get the best of both cex and dex are going to be the preferred apps for the users, as the users need not worry if they are actually getting best rates.
CryptoNewsZ: In which regions has RocketX Exchange enjoyed the most popularity so far?
We have a very strong community of users that is very diverse in nature. We have users from India, UK, Germany, Switzerland, Mexico, Ukraine etc and pretty much from all over the world. What we are building is a global product and the scope is immense, and sky’s the limit.
CryptoNewsZ: What is it about RocketX Exchange that will draw Indian traders and investors?
Today 95% of crypto traders use Centralised Exchanges in India. We believe there is a lot of scope for growth in Indian market primarily because of 2 reasons:
- Centralised exchanges charge high fees (0.25% and above) and gives limited opportunities (<250 tokens available for trade), while RocketX exchange charges as less as 0.05% (lowest in the market) and supports 10,000+ tokens across 500+ exchanges.
- Due to the recent crypto tax regulations, which is a killer for traders, we believe there will be a major shift of users from centralised exchanges to decentralised exchanges.
We believe users find it helpful, what we are building at RocketX.exchange
CryptoNewsZ: our comments on Unilend’s UFT going live on RocketX Exchange?
Unilend is another great project from Indian developers. We listed UFT on our platform and also supported BRIDGE between Ethereum & BSC networks. Their community loved our platform and the fact they can now bridge UFT with a single click!
CryptoNewsZ: Has the partnership with eCash boosted growth? If so, in what areas?
eCash has an amazing community. Our partnership with eCash has given us very good exposure and their community love the fact that now they can trade eCash on Binance in a decentralised way right from their favourite wallet and do swaps in a single click.
We at CryptoNewsZ, thank you for sharing your time and thoughts with us. We wish you the best for all your future endeavors.