Ethereum Trading With Gas-less, No Slippage, No Fees? (Kromatika)

Ethereum still holds a majority of all Defi activities. This includes trading / swapping tokens through Ethereum chain. Then there is good reason that some developers are focusing on how to reduce the fees for individuals trading within the Ethereum chain. A project called Kromatika is a layer 2 protocol that allows users of Ethereum chain to trade tokens with no swap fees, no gas fees, and no price slippage. Of course there is still some form of payment, however it is no where near the combine cost of paying swap fees, gas fees, and price slippage. So how does Kromatika do this?

Kromatika Decentralized Exchange

The platform allows user to make a trade through Uniswap. The process is straight forward but it will require time and Krom token to perform a trade. If trade needs to be instant than it is more of a swap and that is also processed in the same format except user will pay a Krom fee in lieu of all the normal fees required for using Uniswap. Lets take a look at an example:

How To Buy Krom

Straight out of Uniswap and since inception the token has risen more than 10x. It is close to $0.05 per a token but only 100 million will ever exist. Therefore buyers of the tokens early will essentially be holding an asset that reduces the cost of trading on Ethereum chain. By quarter 2 of 2022 the developers of Kromatika hope to introduce a staking and pooling of the native token so more incentives to buy and hold the token.

Here is the link to perform the trades: app.kromatika.finance

Select the tokens to trade and target price. Also the token you want to trade for. In snapshot above we are showing ETH to DAI and with a limit price of $3000.

The fees for making the limit order trade is 488.31 Krom. This may appear to be a lot but that is all you need to pay to make the trade. Any Uniswap swap fees, ETH gas fees, and slippage is gone. At current price of $0.05 / Krom this transaction would cost around $25. Repeat to trade 1 ETH for DAI it will cost around $25! That is less than 1% in total for the trade at current ETH prices. Not to mention the order set at $3,000 per ETH means its a limit order therefore the trade won't execute until ETH hits $3,000 to make the trade. If trader wants market price they can simply type in the target price equaling to the current price.

Another example and comparing prices of trading 1inch token for ETH on Uniswap officially from Kromatika themselves:

An additional 0.6 ETH if using Kromatika versus using Uniswap alone. This is over 1,000 in additional assets pocketed by the trader.

In conclusion expect to spend less than 1% in total cost to make a swap to different coins on Ethereum chain by using Kromatika. I feel this is a hidden gem that not many are talking about. the savings to do swaps are just not seen in today's Ethereum chain but here we are and Kromatika offers that.

Conclusions

When ever we hear no fees there seems to always be a catch. This is no exception with Kromatika. There is still some form of payment in fee transaction in order to execute a trade and it is in the form of its native token Krom. However the price of Krom and the amount spent of a trade is by far much less than if the same trade was done with the usual platform such as Uniswap. The bottom line here is Kromatika is a great way for big trades to go through to reduce the fees.

In this day in age where crypto bridges and swaps are increasingly used on a daily basis. It is very important for traders to limit fees as much as possible. Kromatika is a platform that performs this for not only Ethereum, but Arbitrum, Optimism and Polygon.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!