Welcome to the 1EX Documentation! 1EX is a cutting-edge decentralized exchange (DEX) that leverages the power of Automated Market Makers (AMMs) to facilitate seamless, secure, and efficient trading for users across multiple supported blockchains, including Ethereum, BNB Smart Chain, and Polygon PoS. This documentation aims to provide an in-depth understanding of the 1EX app, guiding users through its features and functionality, and explaining the specialized terms and concepts involved in each process.
Automated Market Makers (AMMs) are a novel approach to digital asset trading that eliminates the need for traditional order books. Instead of relying on buyers and sellers to create liquidity, AMMs use smart contracts to maintain liquidity pools containing various tokens. When users trade tokens on a DEX powered by AMMs, they interact with these liquidity pools rather than with other users directly. This system allows for greater efficiency, reduced slippage, and continuous liquidity for traders.
Key Advantages of 1EX
Broad asset support
1EX facilitates trading of a wide variety of tokens across the supported blockchains.
Competitive fee structure
With four distinct fee levels (0.01%, 0.05%, 0.3%, and 1%), users can choose the most suitable option based on their trading activity.
Enhanced user experience
1EX's intuitive interface and advanced features cater to both novice and experienced traders alike.
1EX's bridging capabilities enable users to transfer assets between supported blockchains, opening up new trading opportunities and increasing overall platform utility.
A Focus on Security and Decentralization
1EX is designed to uphold the principles of decentralization and security. By utilizing smart contracts and a decentralized network of nodes, the platform ensures that users maintain full control over their assets, eliminating the need to trust a central authority. This approach reduces the risks associated with centralized exchanges, such as hacks, theft, or misuse of user data.