Axial Exchange is an Avalanche-based decentralized exchange. They list stablecoins. And offer tight spreads on liquidity.
They’re an extension of Snowball. Built by the Snowball DAO. A group that’ve already built a solid dApp around stablecoins and yield farming.
Pros of Axial Exchange
- Concentrated liquidity. Liquidity on the DEX is concentrated on their core whitelist. This is includes popular stablecoins. Saving their userbase’s liquidity spreading to other lesserknown coins. They also do a great job at maintaining their niche this way.
- Low slippage. Liquidity is concentrated, less fragmented, and as such, their liquidity pools are rich. Offering low slippage, even to larger traders.
- Low spreads.
- Built by a well-connected team.
Cons of Axial Exchange
- Competitive niche. There are similar projects fighting for stablecoin liquidity, i.e. Gondola and Platypus.
- They only offer dollar stablecoins. There’re plenty more routes that Axial could pursue. For example stable swaps on wrapped and bridged tokens. Take WBTC/renBTC as an example.
- The AXIAL token doesn’t do much. Sure, it’s a governance token. But I’d like to see more utility. Perhaps some staking rewards to incentivise holding/buying.
- A lot of multiway pools. These are confusing to newbies; better to offer multiple two-sided LP farms instead.
Should I buy AXIAL
Honestly, I don’t see much point. Of the 365million tokens, there’s really only 1 use-case. Governance and voting. There needs to be more to keep AXIAL from being a dump token.
On the other hand, I highly recommend the DEX. The slippage is great, as are the spreads. Very useful. Just, a shame about the token.