Cryptocurrency businesses and services love Ethereum compatible .xyz domains. Argent.xyz offers a smart crypto wallet service on their domain. Vega.xyz uses their .xyz for cryptocurrency-based stock dividend trading. FirstEdition.xyz even constructed a unique blockchain art gallery with their .xyz. It’s no surprise to see another new cryptocurrency tool hit the market branded with a .xyz domain: cryptocurrency exchange platform Matcha.xyz.
Launched in June 2020 by 0x Labs, Matcha.xyz is a decentralized finance (DeFi) platform that promises to get crypto traders the best rates on currency exchanges. They do this by using their own “0x API” technology to check 17 decentralized exchanges (DEXs) at once. DEXs are where crypto exchanges take place. Matcha.xyz finds and executes the best prices for their users’ trades which often requires intelligently splitting up orders across multiple exchange sources. Put simply, if you want to exchange one kind of cryptocurrency for another, a DEX aggregator like Matcha.xyz gets you better prices than going directly to a single DEX platform. “Our goal is to save our users time and money,” says Matcha.xyz Community Engagement Lead Brent Oshiro. “Similar to Expedia and Kayak for travel, Matcha.xyz conveniently searches for the best prices across a growing number of exchange networks for you. When you use Matcha.xyz, we do the work to save you money on every trade!”
Matcha.xyz’s service features a simple interface and is designed for ease of use. The platform has gotten a positive reception, with some hailing it as “the Robinhood of DEX trading.” Matcha.xyz works to maintain their “easy to use” label by allowing users to make exchanges without having to create an account. This adds privacy and speeds up the process for users. Matcha.xyz processes all trades using a peer-to-peer system, which means users’ tokens go directly from their wallet to someone else’s. This is valuable for traders because they never have to give up control of their tokens throughout the trade and risk losing them.
The helpful features that Matcha.xyz offers don’t stop there. Matcha.xyz says their service offers lower fees than other exchange platforms and is compatible with most major crypto wallet providers. You can trade all Ethereum-based tokens on Matcha.xyz, including popular coins like Ethereum (ETH), wrapped versions of Bitcoin (wBTC, renBTC, tBTC), and 0x’s own token, ZRX. Matcha.xyz gives users detailed information on exchanges. They do this using tools like an x-ray chart which shows the difference between the current “ask prices” and the current “bid prices.” This chart helps users visualize what Matcha.xyz’s technology is tapping into to get them the best exchange rate possible. Matcha.xyz is also one of the few DeFi services to offer customer service support. This support includes a chat service on their homepage and a help center that guides users through troubleshooting problems quickly themselves.
“Ease of use” was one of the primary factors Matcha.xyz considered during the platform’s creation. As Brent explains, “We set out to rethink the exchange experience and build the foundation to onboard the next wave of crypto traders. Most exchanges and decentralized finance (DeFi) products require you to be an expert going in. We wanted to make sure that our users always feel smart and in control when using Matcha.xyz. We make sure that we tell you what is going on, we use friendly language and protect you and your money.”
Brent says speed is another area where Matcha.xyz stands out from the competition. “Matcha.xyz was built to be intuitive and easy-to-use, but also for speed and efficiency. For example, on other exchanges, navigating to markets requires clicking into two different dropdown menus to find the assets you’re looking for. With Matcha.xyz search, you can quickly type out whatever token or pair you’re looking for and immediately jump into that market to begin trading. Eventually, there will be hundreds of assets with thousands of different pair combinations you can trade. So, we wanted to make it as fast as possible for traders to find and navigate to whatever markets they’re looking for with fewer interactions, no matter where they are on Matcha.xyz.”
The team behind Matcha.xyz also pass on their knowledge about cryptocurrency to users through their blog. The blog features helpful guides on trading basics, introductions to new tools, and even how to increase yield from farming tokens. Matcha.xyz also has a YouTube channel that gives users a visual guide to their product alongside helpful tutorials to get them started.
When it came to choosing a domain name to brand their DEX aggregator, Matcha.xyz’s team valued the memorability and flexibility of .xyz. “Having a memorable product name that reflects your brand values is crucial to a product’s success. By going with the .xyz domain extension, we had many more naming options available to us” Brent says. “Additionally, with 0x Labs being an innovator in blockchain technology, we felt right at home with the growing number of industry-leading companies that selected .xyz as their home, including Google’s parent company Alphabet.”
.XYZ is quickly becoming the go-to domain for the cryptocurrency industry online. With Ethereum compatibility, it’s the perfect domain for businesses and individuals alike to show they are part of the crypto revolution, just like Matcha.xyz. Join the Matcha.xyz user community on Telegram and Discord or follow them on Twitter to stay up to date on new features and news.