Solana (SOL) is one of the most promising cryptocurrencies. Over the years of its existence, the crypto project has proven its viability and investment attractiveness. For experienced investors, buying cryptocurrency is a matter of a couple of minutes, but for beginners the process may seem complicated.
There are many DEX on the Solana blockchain, each with its own features and advantages, but we will cover Saber DEX in this post, due to its numerous features and benefits.
What is Saber DEX?
Saber DEX is a decentralized exchange that is ranked #139 on popular exchange trackers. Saber DEX has a trading volume of $5,758,299 over the last 24 hours and $1,790,695,503 over the last 7 days. It was ranked in the top 2024 Best Solana DEX Ranking.
Saber DEX currently has 16 cryptocurrencies, fiat currencies and 14 markets (cryptocurrency trading pairs).
Trading Solana (SOL) Using the Platform
Saber DEX cryptocurrency exchange is a decentralized exchange built on the Solana chain. To enable autonomous trading, Saber, like many other DEX protocols, uses the automated market maker (AMM) paradigm.
However, unlike most cryptocurrency DEXs, Saber is primarily focused on USD stablecoins, bridge assets and stabilization fund derivatives.
Additionally, the transaction costs associated with using the Saber DEX crypto exchange are much cheaper than using Ethereum-based alternatives. The Saber cryptographic protocol also benefits from the high throughput that Solana provides, which in turn results in fast processing times.
Since Saber is a DEX, users do not need to go through a KYC process. The platform is only available via the Internet.
Multiple Market Option
The main trading option is the Saber DEX spot market, with USDT/USDC, MSOL/SOL and UXD/USDC Saber DEX trading pairs being some of the most popular. However, with the largest trading volume on Saber DEX, USDT/USDC is the main trading pair on the exchange as of January 2023. Also note that Saber DEX is a cryptocurrency-only exchange.
| Note: There are several assets that Saber specializes in:
USD Stablecoins: There are hundreds of dollar-based stablecoins in existence, ranging from dollar-backed stablecoins like USDC and Tether, decentralized stablecoins such as UST, and native Solana stablecoins such as Cashio. Bridged assets: There are a large number of bridges that lead to Solana, and Saber is the primary liquidity source to exchange between the different bridged assets. One example is the renBTC-BTC pool, which allows swapping between the Ren and FTX versions of Bitcoin. Many stablecoins are also bridged assets; Saber is the primary way for Solana users to navigate between different chains. Staking derivatives: Saber is the largest venue for trading SOL staking derivatives such as Marinade SOL and Lido SOL. |
Less Commision
The exchange imposes less than 1% Saber DEX exchange fees on all executed orders. Saber DEX crypto exchange fees associated with withdrawals are dynamically determined depending on the technology of the underlying coin.
The SBR token is the native token of Saber DEX. It serves two main purposes: rewarding liquidity providers and providing management rights.
Provides Other Services
In addition to trading, Saber DEX also offers liquidity pools. Users can provide liquidity to these pools to earn rewards.
In addition, the Saber DEX crypto exchange offers two farming options – SBR token staking on the Sunny Protocol and income farming on the Quarry Protocol. The Quarry Protocol allows you to run liquid mining and staking campaigns on Solana.
About Saber DEX
The Saber DEX cryptocurrency exchange is a cross-chain stablecoin exchange that operates on the Solana network. It was introduced in June 2021 and registered in the Philippines.
Saber, which serves as the backbone of the Solana cross-chain liquidity network, makes it possible to transfer assets between Solana and other blockchains. In fact, Saber is the first fully automated market maker on Solana built specifically for trading pegged assets. Users of Solana and applications built on Solana, thanks to the Saber protocol, have the opportunity to trade between stable asset pairs and earn profits, providing liquidity to the platform.
The exchange was launched by Saber Labs. They are a small team of blockchain developers led by Dylan and Ian Macalinao. Since its inception in June, Saber has boldly expanded, which has had a positive impact on Saber DEX trading volume.
