On the 2nd of January 2023, DefiLlama emerged on Twitter to announce that they are launching their first meta DEX aggregator, which protects users’ privacy.
We're launching our meta DEX aggregator!
– Get the best price from 8 different aggregators, including 1inch, matcha, paraswap, cowswap…
– Quotes and gas costs are independently verified by us
– Private mode to avoid leaking your IP
– Approval control
– Available in 22 chains pic.twitter.com/3QpB0RbEwn— DefiLlama.com (@DefiLlama) January 2, 2023
DefiLlama, the largest TVL aggregator for Decentralised Finance launches its new meta DEX aggregator called LlamaSwap features an opt-in privacy mode to prevent DEX aggregators from matching the wallet address of a trader to their IP. It carries out this function by routing all queries through its new server which does not store any IP address and can also be utilized without connecting a wallet.
The newly introduced DEX aggregator quotes the best price across eight different aggregators including 1inc, Matcha, Paraswap, and Cowswap. The product is live on their website, offering its service across 22 chains where users are given full control over approvals.
It works by querying multiple DEX aggregators, comparing their quotes and gas costs, and allowing users the opportunity to choose the best one. As per the announcement, DefiLlama will charge no fees for this service, so users should expect the same experience, results, and price they would get from swapping directly through an aggregator’s UI. Instead, DefiLlama will earn its revenue share from the aggregator platform the trades are routed through.
DefiLlama will also independently verify gas prices and trade routes of various aggregators to ensure the accuracy of all quoted information presented to traders, especially stated gas costs.
Users are given full control over approvals as opposed to other aggregators that insist on ownership of infinite approvals which is dangerous if they get hacked. LlamaSwap offers users the benefit to decide whether to approve infinitely or only what is needed for the current swap.
Its availability on almost all chains confers ease of use to the product as users can easily swap on a new chain when they use the DefiLlamas aggregator to show directly, all aggregators that are available on the chain instead of going through the hassle of having to test multiple aggregators first.
Despite the bear market, the new DeFi product has garnered a lot of traction as it seems to be receiving numerous positive sentiments from the Cryptocurrency community, with many users already taking advantage of its benefits and some others tweeting that it just might be the first DEX aggregator that they would use.
It launched roughly 72 hours ago and has already surpassed MetaMask and coinbase, the future looks very bright for DefiLlamas’ innovation.
