Sukanshi | Coinshift
Nov 24, 2022 10:03:22 PM
Swapping assets through AMM platforms like Uniswap, Balancer, Curve and others, is a routine process using wallets like MetaMask. Still, when it comes to Gnosis Safe wallet, there’s no simple solution. Moving tokens out of the safe or navigating multiple Safe Apps for a simple token swap is not the best user experience. It leads to high friction and time consuming for crypto organizations.
Additionally, for each swap, Users need to approve the token as a multisig transaction leading to more time and gas consumption.
At Coinshift our mission is to build the most sophisticated crypto treasury management platform for companies & DAOs, and today we are happy to announce Coinshift swaps for gnosis safe users — Powered by Paraswap
Better Rates — ParaSwap examines the rate for the given pair on all supported exchanges and displays the effective rate (accounting for slippage) for each. It also optimizes order execution to find the best rates, including splitting your order across several decentralized exchanges.
Multipath Routing — Multipath is ParaSwap’s secret sauce enabling it to consider indirect trading routes (2+ hops) and seamlessly interact with various decentralized services, such as lending platforms like Aave or Compound.
Save Time & Gas Fees. Choose an asset from the supported tokens list and submit a transaction to approve and swap tokens in a single transaction, saving on gas fees and time. Additionally, add a custom description to the transaction and see swap details in the Coinshift dashboard for simple and efficient accounting and reconciliation.
Price Impact/ Slippage. By analyzing multiple token swap routes, the paraswap system optimizes price impact. It minimizes possible slippage to ensure maximum user value, which is especially crucial for large token amount swaps often performed by Companies and DAOs.
As a part of ParaSwap integration, partners can set arbitrary fees for swap transactions and positive slippage percentage fees. We have opted for zero swapping fee and only part of positive slippage in a case where the swapping rate is outperforming the general market rate, so there is no value loss by users.
Learn more here.
Swapping assets on multi-signature safes introduce additional challenges due to the asynchronous nature of the operation. Due to high market volatility, transactions must be signed as fast as possible to prevent undesirable price rates or outright inability to finish transactions. We are exploring potential solutions, such as cowswap — powered by gnosis protocol, to provide the best experience beyond regular token swap flow.
ParaSwap aims to solve liquidity for Defi. It aggregates decentralized exchanges and other DeFi services in one comprehensive interface to streamline and facilitate users’ interactions with Ethereum’s decentralized finance.
Coinshift aims to build the most sophisticated crypto treasury management platform for companies & DAOs. We aim to provide complete data transparency to DAOs by building a shared data layer on top of IPFS & Filecoin.
Thanks to Dima for contributing to this article.