PHUTURE INTEGRATION with 0X API
Phuture Integration with 0x API, to have access to all major exchanges on each blockchain they support.
Phuture builds crypto index funds to make investments simple and accessible to anyone. Their mission is only achieved by delivering continuous improvement to their products and their architecture. As Phuture announced its integration with 0x API.
A key part of their index architecture is tapping into liquidity sources, but that also comes with many challenges:
- Firstly, tokens often have fragmented liquidity, meaning that their liquidity is spread across multiple decentralised exchanges.
- Secondly, integrating with the ever-growing number of decentralised exchanges is very time-consuming, amplifying this challenge.
- Thirdly, deploying Phuture on new blockchains requires a complete refactoring of the supported exchanges
- Developing a protocol to split trades across multiple exchanges is laborious and requires a dedicated team.
Phuture and 0x
Their integration with 0x is pivotal to the Phuture product architecture. Instead of integrating one DEX at a time, Phuture has integrated with the 0x API and will have access to all major exchanges on each blockchain they support.
Furthermore, this integration will allow Phuture to focus on their core products. Crypto index funds, while 0x finds the best trade rates for tokens and sources liquidity across all DEXs.
“The innovation that is happening in DeFi is exciting. The parallels to traditional finance are clear. We see the need for indexes for cryptos and we’re excited to see Phuture using our enterprise-grade APIs to improve their product architecture for entering, exiting, and rebalancing their indexes on a continuous basis.” said Fulvia, Group Product Manager at 0x.
What changes in Phuture’s products?
- Swaps and mints are now routed through the 0x protocol.
- All index rebalancing is executed through 0x.
- The functionality above will be available across all other chains Phuture intends on supporting.
About Phuture
Phuture (PHTR) is a decentralised crypto index platform that simplifies investments through automated, themed index funds on Ethereum. Moreover, accessible by anyone with an internet connection, Phuture is perfect for investors looking to upgrade their crypto investment strategy. Furthermore, founded in 2019, Phuture has raised USD 3.75 million from VCs, crypto funds and investors such as Chaudhry, a previous CEO of Bitcoin.com.
About 0x API
0x API is a free-to-use, professional-grade Web3 liquidity aggregation, and smart order routing API trusted by businesses like Coinbase, MetaMask, Brave, Matcha, Zapper, and GameStop. Furthermore, by using the 0x API to easily and reliably tap into aggregated multi-chain DEX liquidity you’ll have more time to focus on what matters: your product.
SOURCE
https://www.phuture.finance/blog/0x-api-powers-all-phuture-index-funds-for-improved-trade-execution
