BitGW AMM and Swap Review

[00:00:01]Yes, in this video we will look at two important features of BITGW.

[00:00:08]The first of these is AMM.

[00:00:12]The other is swap, which is the feature that allows you to quickly convert cryptocurrencies into each other. If you're ready, let's get started.

[00:00:25]First, I'm opening the AMM page.

[00:00:31]So what exactly does the term AMM mean?

[00:00:35]AMM actually stands for automated market maker. Thanks to the implementation of this innovative system instead of waiting for a specific buyer and a specific seller to match up at the exact same time, the process becomes much more efficient for everyone involved.

[00:00:55]All transactions can be easily carried out using the decentralized liquidity available on the platform. This automated market maker mechanism is a highly efficient liquidity method that is currently widely used throughout the entire crypto ecosystem.

[00:01:11]BITGW also offers features on the platform that support AMM infrastructure liquidity pools.

[00:01:22]Now on the left side you can see the different transaction tabs.

[00:01:27]There are many different trading pairs available for you to choose from including popular options like Tether, Bitcoin, and Ethereum along with a variety of other digital assets to explore.

[00:01:42]Whenever you choose a specific trading pair from the list, you will be able to view the comprehensive 30-day yield range, the total amount of liquidity available, and the detailed transaction ACMI fee statistics, which are all conveniently displayed at the very top of your dashboard interface for easy access. These provide general information about the pool.

[00:02:05]On the right side, there is the liquidity section.

[00:02:10]Here the user can view the liquidity they have added themselves.

[00:02:15]Since I haven't made any transactions yet, there is no data displayed here.

[00:02:21]At the bottom, there are add and remove buttons.

[00:02:26]There are buttons.

[00:02:29]The add button is used to add liquidity when the appropriate conditions are met.

[00:02:38]Remove is used to remove liquidity that was previously added. This section is mainly designed for users who want to use the AMM system.

[00:02:54]Let's move on to another section. Let's take a look at the swap section. Now, we've moved to the swap section in the upper menu. This area is designed to be quite simple and easy to use.

[00:03:07]With Swap, you can quickly convert one of your crypto assets into another crypto asset.

[00:03:14]The platform offers an instant conversion screen for the selected trading pair.

[00:03:20]Let's write an example like this.

[00:03:24]On the left side of the swap interface, you select the coin you own.

[00:03:29]For example, I selected Tether.

[00:03:33]On the right side, you select the coin you want to receive.

[00:03:37]We selected Bitcoin.

[00:03:42]By clicking the arrow in the middle, you can swap the two assets with a single click like this. As you can see, at the bottom, the new reference prices and transaction fee can be viewed. This information is presented to you as a summary before you confirm the transaction.

[00:04:08]If we scroll down a bit, there's a swap history section.

[00:04:13]These are the conversions we've made previously. They are listed here.

[00:04:18]If you're using it for the first time, this area will be empty just like mine.

[00:04:25]Now, let's take a moment to talk about a small but incredibly important difference between an AMM and a standard swap. A swap is essentially the direct process used to convert one specific cryptocurrency you currently have into another different cryptocurrency.

[00:04:44]An AMM or automated market maker on the other hand is one of the foundational liquidity infrastructures that actively supports and enables such digital transactions to occur smoothly.

[00:04:58]In other words, one is the direct transaction interface while the other is a part of the ecosystems operating mechanism.

[00:05:09]That's all for today. See you next time.