An open-source decentralized exchange, Ox Labs has launched its TX Relay API solution. The exchange confirmed the development in its Wednesday blog post. According to the announcement, the solution will run on the Polygon network, thereby enabling developers to easily build frictionless crypto experiences.
Ox Labs also announced Robinhood Wallet as its first partner to harness the potential of Tx Relay API. In the announcement, the firm emphasized the need for users to hold and sustain balances for the native token of each chains so as to pay for transactions. However, the absence of a solution like Tx Relay APIs had, in the past, forced users to resolve into preloading wallets, transferring balances across applications and sending tokens between addresses. This hurdle, according to Ox Labs, has, over time, affected the widespread adoption of web3.
However, Ox Labs believes the launch of the Tx Relay API will erase the complications associated with approvals, allowances and swaps. This thus enable developers to build efficient user interfaces for their various applications. Further, it will give them the enablement to onboard the next generation of users into the evolving web3 sphere.
Ox Labs highlights the benefits of Tx Relay APIs
Worthy of note that Ox Labs in the announcement, highlighted the various benefits enveloped in the new solution. As revealed, it will help to safeguard users from MEV with proprietary Slippage Protectjon and Request for Quote orders. Further, the Tx Relay API, according to the exchange, simplifies user flows for apps. By virtue of this, users can trade with any asset in their wallet without any hinderance.
Going forward, the open-source exchange boasted that the solution is capable of unlocking aggregated liquidity from Ox private market makers. It revealed that the APIs posssess the capacity to power renowned wallets, centralized exchanges and many more. Notably, Ox Labs, in the announcement, dropped an access link for developers willing to build with the solution.
Worthy of note that Ox Labs aims to continuously equip developers with efficient tools. Through these tools, it believes developers can offer best crypto trading experience for their users. The firm justified its choice of Polygon to run the Tx Relay APIs. According to Ox Labs, Polygon possesses some features that distinguish it from others. It believes these features complement its ambition for the solution. Recall that in recent times, Polygon has continued to be the choice of platforms seeking to onboard billions of users into the web3 sphere. As of press time, it has secured its position as one of the fastest-rising ecosystems after recording numerous collaborations and integrations from projects.