@Prince_omobee
Thank you for the question! It means that $METIS on both blockchains, Ethereum and the METIS native blockchain, is added to the list of assets available for swapping on our platform in the Swap and DEX modes. There are about 3,900 coins and tokens that our users can swap on LetsExchange.io. And accordingly, all these 3,900 cryptocurrencies can be exchanged for $METIS.
@Zion_B
Yes, LetsExchange doesnât collect or store usersâ funds. So, as long as users keep funds safe in their wallets and provide all the data needed to make a swap correctly, the user funds are 100% secure.
@crypto4ell
LetsExchange generates revenue from transaction processing fees. This sustainable business model allows LetsExchange to operate without issuing our own token.
@Papijhaytu
When we say that we donât have a native token, we literally mean it.
As for $METIS, the token is already listed on our platform and is available for swaps, including cross-chain swaps. We hope to further collaborate with the Metis community in marketing and promotion to benefit and grow both projects mutually.
@Black322
Regarding liquidity, we use our own liquidity and rely on providersâ liquidity. This allows us to exchange user funds with virtually no restrictions and support the exchange of more than 3,900 cryptocurrencies. Yes, situations may arise when even the providerâs liquidity is insufficient. But these are extremely rare exceptions to the rule. And they may arise either with a less popular asset or vast amounts.
Regarding security, this is an excellent question. LetsExchange provides users with a non-custodial security. Our platform doesnât store usersâ funds. In very simple terms, our infrastructure allows the user to send any coin and instantly receive any other of the 3,900 available directly to a wallet.
Thus, there is no danger that user funds will be stolen. And we donât need to confirm reserves.
A significant part of exchanges occurs without registration. And we donât collect nor store such usersâ information either. Therefore, there is no possibility of data leaks.
At the same time, the AML compliance verification is integrated into our solutions and is conducted automatically. Thus, we can guarantee that our users and partners will get only legal funds.
Finally, LetsExchange has run a bounty program on HackenProof for white hat hackers to find web and API vulnerabilities on its various services and products. No critical vulnerabilities have been found so far.
@SaviourJay
Thank you! We hope that this partnership will be mutually beneficial for both projects.
@Mercysnow
Thank you! We are trying to do our best to meet all the expectations of our partners and satisfy the needs of our users, including the Metis community!
@Metischarter
Thanks for the question. Letâs briefly explain this functionality.
Cross-chain exchanges are available in Swap mode on LetsExchange.io. If an asset is only available on a DEX, it can only be exchanged within one network.
How does cross-chain work? In short, our infrastructure allows us to combine the liquidity of providers in such a way as to accept from the user any of the 3800+ available cryptocurrencies and exchange them for any other. For example, you can easily exchange BTC for the native Metis token. Or, for example, you may need to change USDT-ERC20 to USTD-TRC20. This can also be done by selecting the appropriate tokens in the widget.
However, you need to understand that sometimes, the ârouteâ of such an exchange can be quite long. And involve not one but several liquidity providers. And because Liquidity providers charge a commission, which is considered when calculating the exchange rate, this may affect the exchange rate.
@Emedy
Thank you for the lovely feedback! We have noticed that the need for similar solutions is growing, and thus, we are highly motivated to move on and add new features when such a demand arises.
@grace
From our point of view, user anonymity - one of the cryptocurrenciesâ fundamental principles- is an absolute priority. This is a matter of security - the security of users who do not want to reveal their identity while performing absolutely legal transactions.
However, AML checks are indispensable to ensure that our users receive only clean funds (coins that were not involved in any illegal activities), and this is something we take seriously. Each time a user swaps coins, all funds pass an AML check. If our AML checking tool detects suspicious coins, they will not be exchanged. However, we donât block the userâs funds in such a case. We just send them back to the userâs wallet.
@patoae
Thanks for your support!
LetsExchangeâs infrastructure allows it to support different coins on many various networks. A good example is USDT. LetsExchange supports USDT on 25 various networks. And we have no problem supporting METIS on our own network and on the ERC-20 network.
Regarding the influence on the development of the Metis ecosystem, users can now swap METIS for any of 3,900+ supported coins and tokens or exchange METIS-ERC20 to METIS on its native blockchain and vice versa whenever they need without risking their funds in bridges and overpaying. Additionally, we arrange various marketing activities for our partner, within which we, for instance, share promo codes that users can use to get cashback.
@blesily6688
Thank you for asking this! First of all, Metis can benefit from our solutions for partners such as:
- API integration â this will enable your users to benefit from the extensive exchange functionality of LetsExchange.
- Widget & Button â to allow your users to swap METIS for over 3,900 supported coins and tokens, benefiting from cross-chain swaps and a DEX functionality.
- A branded Telegram bot â to enable your community to swap crypto, buy crypto with fiat, and perform transactions on a DEX directly in the Telegram app.
Regarding KYC: We have decided to prioritize our usersâ privacy, which is why we donât collect any personal information from our users. To ensure that only clean funds are involved in operations, the platform performs automated AML checks for each swap. If coins that were involved in suspicious activities are detected, we may request additional documentation to ensure that the user isnât trying to swap âdirtyâ funds. If the coins intended for a swap were involved in illicit operations, the exchange is not performed, and we refund the funds to the wallet from where they were sent.
@Chieftain
A simple solution may be the most efficient one. We donât use bridges for cross-chain swaps. While this technology is a huge step forward in the development of the blockchain ecosystem, it is still not perfect, and we cannot risk our usersâ funds.
We rely on the major liquidity providers we have integrated into our infrastructure to ensure safe and reliable cross-chain swaps.
1 Like
@Cujo
We collaborate with the major liquidity providers to ensure fast and seamless swaps in all the supported crypto pairs. Also, before listing a coin, we always check that it is traded actively and can ensure enough liquidity to meet the requirements of our users.
Regarding the API, any project can use it. All that you have to do is contact our team, and we will guide you through the process.
@0xTosyn
Hi! We monitor the market constantly to be updated about the most recent developments and demands. We believe that our team is strong and experienced enough to face any challenges. We also rely on our partners, including many high-tech projects with innovative ideas and solutions.
@Tonie
Thank you! We have been working hard to get those partners, and we hope that the partnership with METIS will deliver great results for both teams, too.
@Johnex
LetsExchange is an instant crypto exchange. With LetsExchange, users can exchange cryptocurrency in Swap and DEX mode and can buy coins and tokens with fiat funds. At the same time, we do not strive to become an exchange in the classical sense of the word. Our main goal is to enable as many users as possible to exchange cryptocurrencies simply and quickly. It is around this goal that our development is built.
@Meeessien
We collaborate with the best liquidity providers to offer our users seamless swaps in all supported crypto pairs, including cross-chain swaps.
Regarding other partners, we help them boost the popularity of their tokens and services by opening them to the entire market.
Teams with their own crypto can integrate, for instance, our widget or button on their resource to let their users and customers access the entire functionality we offer. Thus, users can swap a token or a coin for 3,900 other cryptocurrencies.
Whatâs crucial is that we provide our B2B tools for free. From our point of view, this is an ideal tool for promoting new assets on the market.
@jakartinho
Thank you. We really appreciate your feedback and wishes. We are already working on a series of guides for users and partners and now see that it is paying off.
All the necessary information is in our blogâs âHow toâŚâ section.