How to Use 10K Swap on Starknet
What is 10K Swap?
10KSwap, hosted on 10kswap.com and constructed atop StarkNet, embodies an AMM protocol that evolves in tandem with Ethereum. The mission of 10KSwap is to transform AMM protocol efficiency by harnessing the rollup attribute, aiming to enhance the L2 domain with reduced fees, diminished friction, and superior liquidity, thus fostering DeFi progression.
As one of the initial open-source AMMs on the StarkNet Mainnet, 10KSwap’s team places its confidence in both Ethereum and StarkNet, seen as the forefront of rollup innovation. The Cairo-VM, unique to their approach, offers developers an alternative path for development, boasting higher throughput and negligible computational costs. AMM stands to gain substantially from these two distinctive attributes, as per their belief.
The Cairo-VM significantly reduces gas expenses for calculations compared to state updates. By increasing the calculation volume while lessening state updates, 10KSwap aims to continuously enhance contract efficiency and further slash gas costs. Their goal is to deliver a swift trading experience, secured by widespread consensus, aligning with the aspirations of every DeFi enthusiast. The team eagerly anticipates navigating this exhilarating realm alongside StarkNet‘s trailblazers.
10KSwap has implemented an immutable structure, ensuring that the protocol remains uninfluenced by central entities. Once fully operational, control will transition to the community.
10KSwap is operational with pairs like ETH, USDC, DAI, WBTC, and USDT, including the 10K Pool. Future developments will delve into the possibilities of zk-tech to create a more LP-friendly AMM, offering more precise liquidity management.
The core technological focus revolves around utilizing Cairo to craft the “Rich Convex Function”. The entire development is open-source, serving as a resource to inspire and engage more Dapp creators in the L2 ecosystem and DeFi construction.
How to Use 10K Swap
Connect a Starknet compatible web3 wallet.
For this demonstration, we’ll be using Argent wallet.
Connect to Starknet mainnet.
Once your wallet is connected, you can proceed with using your feature off choice on 10K Swap. To start, we’ll execute a simple swap of ETH to USDC.
Wait for your transaction to be confirmed on-chain.
Pay the transaction fee.
Once your transaction is processed, you can check the StarkScan block explorer for the details.
How to Use Liquidity Pools on 10K Swap
To add liquidity to pools on 10K Swap, simply go to the POOL tab on the interface.
Choose the assets you wish to add. In this demonstration, we are using ETH and USDC.
You can check the estimated liquidity pool tokens (LPT) you may receive in exchange for the liquidity provisioned.
Once you confirm the supply, the transaction will be executed.
All you need to do is simply confirm the transaction and pay the gas fee and you’d have successfully provided liquidity to your chosen pools.
You can also check the analytics on the dashboard.
Key Takeaways
10KSwap, a pioneering AMM protocol built on StarkNet and integrated with Ethereum, is revolutionizing the DeFi space by leveraging the rollup feature for enhanced efficiency. The platform focuses on providing lower fees, minimal friction, and improved liquidity in the L2 ecosystem. It utilizes the unique Cairo-VM for high throughput and low computational costs. Using 10K Swap could also potentially earn users a Starknet airdrop.
Other Starknet DApps to check out include JediSwap, Fibrous, and RabbitX.
