Announcement

Secret Feature: Button Swap

Button Swap is a privacy-preserving DeFi / DEX aggregator by btn.group, offering the best token swap rates on Secret Network.

Secret Network

January 25, 2022

Greetings Secret community!

In the world of DeFi, there are countless number of options. Swap on Osmosis? Sienna? SecretSwap? Users are forced to manually check across a variety of DEXs for specific trades, making decisions based on the depth of liquidity. Manually checking is not efficient and does not enable complex trading routes and paths. This opportunity is where sophisticated DEX aggregators algorithms enter the world of DeFi – key tools used for saving money on swaps.

A DEX aggregator’s main task is to offer a user better swap rates than any specific DEX can offer – and to do that in the shortest possible time. Other major tasks are protecting users from price impact and reducing the probability of failed transactions.

DEX aggregators source liquidity from different DEXs and thus offer users better token swap rates than they could get on any single DEX. DEX aggregators have the ability to optimize slippage, swap fees and token prices which, when done right, offer a better rate for users. For instance, a swap deal split between several DEXs can get a user an overall better price than a swap on any single exchange.

Enter Button Swap – a DEX aggregator built for privacy-preserving DeFi. Button Swap combines liquidity from decentralized protocols SecretSwap and Sienna Network to get you the most lucrative swaps. It’s like 1inch and Auto Swap, but with the added protection from front-running attacks by utilizing Secret Network’s smart contract technology!

How it works

Button Swap analyses and simulates hundreds of thousands of possible swap paths. Once the user enters their swap details, it gathers the best possible swap paths, and then double checks them live via the liquidity pool smart contracts involved.

If the user proceeds with the swap, unless the swap returns the minimum acceptable amount, it cancels the entire swap and the funds are returned.

Fees

Fees are charged only if Button Swap returns the best aggregated swap amount. So if another protocol offers the best swap path, there are no fees.

If Button Swap offers the best swap path, a fee is applied to the difference between Button Swap’s best offer and the other protocols’ best offer. If the other protocols do not offer a swap path, a smaller percentage is applied to the entire return amount.

In this example, Button Swap is the only protocol to oﬀer a swap path, so a trading fee is applied to the entire return amount: 19,455.668039 * trading fee. These fees are based on the user’s VIP level, which is based on their balance of btn.group’s native token $BUTT.

Level	BUTT balance	Commission *	Trading fee *

VIP 0	< 6,250	5%	0.1%

VIP 1	>= 6,250 BUTT	4%	0.08%

VIP 2	>= 12,500 BUTT	3%	0.06%

VIP 3	>= 25,000 BUTT	2%	0.04%

VIP 4	>= 50,000 BUTT	1%	0.02%

VIP 5	>= 100,000	0%	0%
	BUTT

Coming Updates

The btn.group are working on adding benefits for higher VIP levels in terms of speed and analytics. Additionally, they are also working on reverse simulations and general UI/UX updates.

Other existing btn.group features and apps are as follows: