*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.

Introduction To Slingshot.Finance

Introduction To Slingshot.finance

The emergence of many AMM platforms in DeFi has brought more trading opportunities for investors but the scattered liquidity can sometimes cause confusion among traders. Finding the best rates is not that easy but with aggregators such as Slingshot many pieces are slowly falling into place for DeFi.

What Is Slingshot? #

Slingshot is advertised as the next generation decentralized trading platform that aims to solve many problems DeFi traders are facing today while also allowing them to extract the maximum value on their trades thanks to positive slippage.

In short, Slingshot aggregates many liquidity protocols and provides users with the best option available depending on the trading pair they are looking for. On top of the best trading options, Slingshot will also give traders any positive slippage that may occur during the trade. This means that traders will almost always get more out of their trades by using Slingshot versus any other available option.

Slingshot first launched on Polygon, but it is now also available on Optimism and Arbitrum with more integrations coming in the near future.

How To Use Slingshot? #

After visiting the homepage launch the dapp and select the chain you want to trade on.

Slingshot chain select

The next step would be connecting your wallet to slingshot and once that is done you will be able to trade almost any token or coin, if it is available on the chain that you selected.

Slingshot connect wallet

Slingshot takes a very simplistic approach when it comes to interface and even complete beginners should have no problem navigating this decentralized trading platform.

You can find the coins or tokens that you want to trade by performing a simple search on the DApp.

Find coin Slingshot

If it can not be found on the default list, turning on “Ape mode” will give you access to all available assets after confirming that you understand all the risks that are involved in these types of trades.

Enable ape mode Slingshot
Ape mode warning slingshot

Slingshot also provides an easy way to track price movements through very detailed price charts.

Price chart slingshot

Positive slippage has to be the main feature of Slingshot as it is very unique. All other protocols either don’t have this feature at all, or they have their own way of handling positive slippage and who it is paid out to.

On Slingshot, all trades are tracked in real time and users can see if there was any positive slippage paid out to the traders.

Positive slippage Slingshot

To execute trades, simply select the asset you are looking to buy or sell, enter the correct amount and the protocol will give you an accurate estimate of the outcome of this trade.

Buy matic on Slingshot

Conclusion #

If you are performing trades frequently on Polygon, Optimism or Arbitrum there is really no downside in using Slingshot. The DApp itself is not an AMM but an aggregator that will always have your best interest in mind.

Positive slippage is also a feature that is rare in DeFi. Sometimes your trades will be a lot more profitable if they are performed through Slingshot thanks to this feature.

Updated on January 20, 2022
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*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.