Decentralized exchange (DEX), ZumoSwap has anchored in the VeChain (VET) network as an alternative to autonomous market maker (AMM), Vexchange.
It is understood that Vexchange charges high trading costs to its users.
For example Uniswap charges 0.3% for slippage. But at Vexchange, a charge of 1% is levied and is higher when compared to Ethereum.
The establishment of ZumoSwap was inspired by Uniswap, just did not involve the presence of all Uniswap and Web3 code.
This DEX is also able to integrate with any VeChain-supported wallets and makes it easy for users to make transactions without having to do two transactions for token exchange.
ZumoSwap has also merged with the “Auto VTHO Farming” function which allows users to maintain their VTHO yields and at the same time also offers liquidity to DEX by supplying VETs for pools.
Meanwhile, earlier this morning, VeChain had announced that the Government of Inner Mongolia, China has selected VeChainThor to operate an agricultural product tracking platform based on government policy.
These two good news managed to push the price of VeChain’s native token, VET which is currently trading at $ 0.094, up over 7% in 24 hours.
While VTHO recorded a jump of over 9%, it traded at $ 0.00652 at the time of writing the article.
