Wormhole Frens — Atlas DEX
In our new series “Wormhole Frens” we introduce web3 projects that implement the Wormhole protocol and leverage its potential. This edition covers Atlas DEX, a cross-chain protocol connecting leading blockchains.
What is Atlas DEX?
Atlas is a cross-chain DEX and liquidity aggregator, designed to create a seamless trading experience for anyone looking to exchange tokens. It splits trades across different liquidity pools to provide users with minimal slippage. Atlas currently enables swapping for over 1,500 tokens between Solana, Ethereum, BNB Chain, Polygon, Avalanche, and Fantom (with more to come).
The recent SushiSwap proposal to build cross-chain swaps using Stargate shows the DeFi community’s need for such features. That’s exactly what the Atlas DEX🤝Wormhole collaboration allows users to do.
How does it work?
Unlike the traditional AMM which only allows users to trade from its own liquidity pools on a single chain, Atlas DEX’s unique proposition to users is their combination of cross-chain swaps, minimal slippage, and fast transactions.
Atlas makes use of the Portal bridge to trade any token across multiple supported chains, in a permissionless, decentralized way. The DEX automatically splits up the trades across different AMMs to access the best price and minimize slippage. No longer do you have to search DEXs for the lowest slippage for the trading pair, Atlas provides users with the deepest pool of aggregated liquidity from all over DeFi.
Atlas utilizes Portal’s underlying bridging protocol: in a fee-less bridging process, the origin token gets locked in a smart contract, and a new portal wrapped token gets minted 1:1 on the target chain. Subsequently, Atlas swaps the portal wrapped token on one of the target chains DEXs — chosen by the lowest slippage and sufficient liquidity. This allows users to have a seamless experience, swapping one native token for another native token across chains.
How to use Atlas DEX?
1. Set up the trade
- Select source chain and destination chain
- Select the tokens you would like to swap to and from
- Enter the amount you would like to trade
2. Connect your sending & receiving wallets
- Select connect wallet
- Select the wallet you’ll send tokens from
- Continue & repeat the step for the wallet you’d like to receive tokens into
3. Swapping your tokens
- Click on Swap to confirm your swap
- Approve all wallet pop-ups to initiate the transaction
- Wait for the transaction to be completed (note: depending on the selected chains, this may take several minutes)
- All processes (wrapping, unwrapping, bridging, exchanging) are completed in the background
Wait for the transaction to be completed
- Success! You just swapped your tokens cross-chain!
What’s next for Atlas DEX?
The Atlas DEX team is currently building key features to pioneer cross-chain interoperability, making it a go-to platform for DeFi users. Here are a few things they are working on:
- An all-in-one DeFi dashboard
- Cross-chain NFT & IDO launchpads
- Bridging $ATS to EVM chains
Join the ever-growing Wormhole community
If you have questions, need support, or want to connect, join the Wormhole community and keep up to date with our up-and-coming announcements. We’re always happy to hear your feedback, join our discord, and drop us a comment!