Ethereum is the most popular platform for decentralized applications (DApps) and smart contracts, but it also suffers from high transaction fees and network congestion. Polygon is a layer 2 scaling solution that aims to solve these problems by providing faster and cheaper transactions on a sidechain that connects to Ethereum. However, swapping tokens between Ethereum and Polygon can still be costly and complicated, especially for users who are not familiar with bridges and wallets.
Fortunately, there is a new trading API that allows users to swap Ethereum and Polygon tokens with no gas fees and minimal hassle. The API is called News Explorer, and it is powered by 0x, a protocol that aggregates liquidity from various decentralized exchanges (DEXs) on both networks. News Explorer is a simple and user-friendly interface that lets users select the tokens they want to swap, and then executes the trade in the background using the best available rates and routes.
What is News Explorer?
News Explorer is a new product from Decrypt, a media platform that covers the latest news and trends in the crypto space. News Explorer is designed to make it easy for users to access the benefits of Polygon without having to deal with the technical complexities of bridging and swapping tokens. News Explorer is not a DEX or a wallet, but rather a trading API that connects to 0x and other DEXs on Ethereum and Polygon.
News Explorer works by using a smart contract called the Forwarder, which allows users to swap tokens in a single transaction, without having to approve or wrap them first. The Forwarder also covers the gas fees for the swap, so users only pay a small fee in the token they are swapping. For example, if a user wants to swap ETH for MATIC, they only pay a fee in ETH, and not in MATIC or any other token.
News Explorer also supports meta-transactions, which means users can swap tokens without having to hold any ETH or MATIC in their wallets. This is possible because News Explorer uses a relayer service called Biconomy, which pays the gas fees on behalf of the users, and then deducts the fee from the swapped tokens. This way, users can swap tokens with just a single click, and without having to worry about gas fees or network congestion.
How to use News Explorer?
Using News Explorer is very simple and intuitive. Users just need to follow these steps:
- Visit the News Explorer website and connect their wallet. News Explorer supports MetaMask, WalletConnect, Coinbase Wallet, and Fortmatic.
- Select the tokens they want to swap, and the amount. News Explorer supports over 200 tokens on Ethereum and Polygon, including popular ones like USDC, DAI, WBTC, AAVE, UNI, LINK, and more.
- Review the swap details, such as the price, the slippage, the fee, and the estimated time. News Explorer shows the best available price and route for the swap, using 0x and other DEXs on both networks. News Explorer also shows the gas fee that is covered by the Forwarder, and the fee that is deducted from the swapped tokens.
- Confirm the swap and sign the transaction. News Explorer will execute the swap in the background, and notify the user when it is completed. Users can also track the status of their swap on Etherscan or PolygonScan.
Why use News Explorer?
News Explorer is a convenient and cost-effective way to swap tokens between Ethereum and Polygon. Users can enjoy the following benefits:
- No gas fees. News Explorer covers the gas fees for the swap, and only charges a small fee in the token being swapped. Users can save money and time by avoiding the high gas fees and network congestion on Ethereum.
- No hassle. News Explorer simplifies the swapping process by using the Forwarder and meta-transactions. Users do not need to approve or wrap their tokens, or hold any ETH or MATIC in their wallets. Users can swap tokens with just a single click, and without having to deal with bridges and wallets.
- No compromise. News Explorer offers the best price and liquidity for the swap, by aggregating multiple DEXs on both networks. Users can access the most competitive rates and routes for their trades, and swap any token they want.
News Explorer is a new trading API that allows users to swap Ethereum and Polygon tokens with no gas fees and minimal hassle. News Explorer is powered by 0x, a protocol that aggregates liquidity from various DEXs on both networks. News Explorer is a simple and user-friendly interface that lets users select the tokens they want to swap, and then executes the trade in the background using the best available rates and routes. News Explorer is a product from Decrypt, a media platform that covers the latest news and trends in the crypto space.
