There’s a decentralised exchange that enables you to trade any token on any chain at the best rates and with the lowest fees, its name is —RocketX.
What is RocketX Exchange?
RocketX is a decentralised exchange that allows you to swap over 30,000 crypto assets across 113 chains at the best rates and fees.
It is a hybrid aggregator that combines the features of both centralised and decentralised exchanges to provide the best prices and liquidity for your trades.
RocketX aims to “simplify crypto swaps for everyone and enhance the interoperability of all blockchains”.
The project has been working to make it easier, faster, and cheaper for anyone to buy, sell, and swap cryptocurrencies since 2021.
Before we go into the details of how RocketX works and its various products and features, let’s take a look at the people behind the project.
The RocketX Team
The RocketX team comprises financial services, marketing, technology, and blockchain experts with vast experience.
According to their website, the project core team consists of 3 members who are fully doxxed.
1. Kiran Mannam (Project Lead):
Kiran is a financial services expert with over 19 years of experience in the traditional financial services industry.
Before joining RocketX in June 2021 (between 2003 and 2019), Kiran was:
- Banking Implementation Consultant at Infosys Technologies Ltd for about 7 years.
- Senior Banking Consultant at ING Nederland for over 3 years.
- Founder of xPay, Business Process Sr. Consultant (SAP Transactional Banking) for over 9 years, and
- Senior Banking Consultant at Lloyds Banking Group for over 2 years.
…according to his LinkedIn profile details.
2. Davinder Singh (Chief Technology Officer)
Singh is an accomplished developer who before joining RocketX in August 2023 (between 2019 and 2022), was:
- App Developer at We Care The Green Movement NIT Raipur for almost 3 years,
- Software Developer at Innovation Cell NIT Raipur for 1 year,
- Full Stack Developer for Virtuous Health for 2 years,
- Full Stack Developer at Rx.Health for 2 years, and
- Member of Technical Staff at Ford Pro Charging for 9 months.
…according to his LinkedIn profile.
- Intern >Full Stack Developer >Senior Full Stack Developer at Autoninja for almost 2 years.
- Senior Full Stack Developer >Software Architect at Rx.Health for over 3 years.
Other known members of the RocketX team are:
4. Adira (Marketing and Social Media)
Adira is a marketing expert, who before joining RocketX in September 2020 (2016 and 2020), was:
- Marketing Lead at Unilever for almost 3 years.
- Head of Marketing at SAP for over 4 years.
…according to details on her LinkedIn profile.
How Does RocketX Exchange Work?
RocketX has its own proprietary smart order-routing engine that taps into the over $100 billion liquidity of 450+ DEXs and 6 leading CEXs, including KuCoin, OKX ByBit, Huobi, etc.
This enables it to automatically optimise your swaps for the best rates and lowest fees by comparing prices across hundreds of liquidity sources and routing your trades through the best path.
RocketX works, both as a DEX and a cross-chain bridge as it supports on-swap (swapping tokens on the same chain) and cross-chain swaps, all in a simple user interface (UI).
It’s as simple as using a regular DEX like Uniswap or PancakeSwap but with the power to do more —e.g. you can trade on top CEXs directly from your wallet.
Just connect your wallet and start swapping.
RocketX Products and Features
RocketX products and features are what make it a powerful tool for active crypto trader traders and DeFi investors.
1. RocketX Swap
The RocketX Swap is its primary product which allows you to seamlessly swap thousands of crypto assets across over a hundred chains at the best rates and fees.
Using the Rocket Swap simple interface, you can swap tokens on the same or a completely different chain. It’s both a DEX and a cross-chain bridge.
2. Fiat On-ramp
RocketX has integrated with On-Ramper and Tranzak to enable you to buy crypto with or convert your crypto to fiat.
3. Tax Reporting
RocketX has partnered with Kryptoskatt, an all-in-one crypto tax and accounting software that allows you to import your wallet or exchange accounts, generate your tax reports, and see a detailed overview of your portfolio and its performance.
This is not really a product of RocketX though. It’s a kind of link exchange partnership that helps both projects tap into each other’s audience.
The RocketX team have confirmed they will be partnering with more tax reporting projects in the future to give you more options.
RocketX is a feature-rich hybrid aggregator. Below, we discuss the various features of the platform that help it stand out from the competition and make it a powerful tool in your trading arsenal.
1. Access to global liquidity
RocketX gives you access to over 30,000 tokens and taps into the deep liquidity of 450+ exchanges.
Allowing you to trade a wider range of cryptocurrencies than you could on any single exchange at the best rates.
2. Swap to any wallet
RocketX allows you to swap tokens from one wallet to another with just one click. This makes it easy to move your cryptocurrencies between different exchanges and wallets.
RocketX makes it easy to trade crypto assets on 113 (and counting) blockchain networks without having to go through a centralized exchange. The goal is to support all known blockchains to enhance interoperability.
4. Best Rates
RocketX compares prices from hundreds of exchanges and liquidity providers to give you the best prices for your trades.
Allowing you to save costs on every trade with better rates and lower fees.
The platform does not hold your tokens as CEXs. You can trade on leading CEXs on RocketX directly from your wallet and maintain full control of your funds at all times.
6. Trade History
RocketX helps you track your trading history in real time, showing you the amount of fees saved in USD, total trading volume, and number of trades.
You can also see the full details of each swap, such as the tokens, the route used, the prices, the fees, and the status.
7. Referral program
You can refer your friends and contacts to RocketX and earn from 20% to 50% commission depending on their total trading volume each month.
It’s a cool way to earn passive income while introducing your friends to the best omnichain trading platform.
Limitations of RocketX Exchange
1. Unsupported Pairs/Routes:
You may see an error message: “COMBINATION NOT SUPPORTED” when doing certain cross-chain swaps on RocketX.
This is because RocketX only enables trading pairs or routes supported by their liquidity partners.
You will have to use a different cross-chain or centralised exchange for such trades until RocketX liquidity partners support them.
2. Daily Limit
You will be asked to complete KYC if you exceed the daily limit for trades via CEX. But this only applies to each address, so you can use a different address to evade this limitation.
3. Transaction Limit
There’s a $25,000 limit per transaction on RocketX. If you want to trade a higher amount, you can do multiple swaps of $25k.
RocketX Exchange (RVF) Token and Tokenomics
RVF is the native token of RocketX with a maximum supply of 100 million (100,000,000), of which 85% is currently in circulation, according to CoinGecko.
There used to be a buyback and burn using 1% of the platform revenue but that’s been stopped and may be resumed in the future.
But before it was stopped, 700,000 RVF had already been burnt, so the actual maximum supply right now is 99,300,000, according to the vision paper.
The token is available on multiple chains: Ethereum (ERC20), BNB Smart Chain (BEP20), and Polygon (ERC20). And you can trade or bridge it across chains seamlessly on RocketX.
RVF Use Cases
- RVF gives its holders up to 100% discount on platform fees.
- Holding more than 10,000 RVF gives you early access to new product features.
- You can use RVF to buy gift cards from CryptoCart and shop from over 2,000 top brands, across 53 countries on the platform.
A dynamic % of RocketX revenue will be used to buy back RVF tokens from the open market every day, starting from the next BTC halving event in mid-2024.
According to the team, bought-back tokens will be used for increasing RVF liquidity on the exchanges, future fundraises with long vesting or any other means that will help the growth of the project on a need basis.
As per the RocketX vision paper, the following were the RVS allocations.
- Operations: 7,500,000 (7.5%)
- Marketing: 7,500,000 (7.5%)
- Advisors: 6,000,000 (6%)
- Development: 12,000,000 (12%),
- Pre-Seed Round: 16,000,000 (16%)
- Seed Round: 17,000,000 (17%)
- Strategic Round: 5,000,0000 (5%)
- Private Round: 5,000,000 (5%)
- Public Round: 3,000,000 (3)
- Staking Rewards: 5,000,000 (5%)
- Exchange Liquidity: 3,500,000 (3.5%)
- Team: 12, 500,000 (12.5%)
All tokens have already been released and distributed over the years except for 9.5 million RVF unlocking by Dec. 31, 2023.
This is a combination of the marketing, operations, team, and development tokens.
But liquidity remains locked until Dec. 31, 2024.
Where Can I Buy RVF Tokens?
Or, you can just trade it on RocketX itself for the best rate.
RocketX Exchange Community
RocketX currently has a super active community of 6,600+ raving fans on Telegram, 35,000 followers on Twitter, over 36,000 total active platform users, and a growing list of partners both within and outside crypto.
The team is constantly present in the community, regularly sharing updates across all channels, and engaging with members.
Overall, the project has a vibrant community of loyal users.
Is RocketX Secure?
Though an audit does not guarantee that a project is secure and invulnerable, it enhances its security as any bugs and flaws would’ve been identified by the auditors and fixed.
It also shows that the team is transparent and serious about the security of the platform and the protection of users’ funds. Thus building trust with the users.
Also, Your funds are not stored on the platform as you’re transacting directly from your wallet. So, there’s no risk of the platform being hacked and funds stolen.
RocketX Exchange Fees
Here’s a breakdown of the RocketX Exchange fees.
- No trading fee for swaps below $5 via DEXs.
- RocketX has a dynamic fee structure that starts from 0.1% on a select few chains.
- The minimum fee for on-chain swaps via DEX is $1. And for cross-chain swaps via DEX, it’s $2.
- For Swaps via CEX, RocketX charges a dynamic fee that starts from $2 minimum to a maximum of 0.4%.
- You can avoid all these fees by HODLing 1,000,000+ RVF tokens (gives you 100% discount). Holding 2000 RVF gives you a minimum of 25% discount.
- But a minimum fee of $1 applies for all Swap transactions via CEX regardless of your RVF holding.
Every year, the RocketX team releases a new roadmap. And so far, they have delivered on everything in them.
The 2023 roadmap is only left with a few items to check out:
- New Wallet Integrations,
- Partner APIs – Beta Launch,
- Monthly Referral Rewards in USDT,
- Optimisations for improved UX,
- New Blockchain Integrations
And going into 2024, the team has already listed some cool new products and features to go live as soon as Q1:
- Wallet-less Swaps (no wallet, no account, no Login)
- RocketX Earn
- Limit Orders
- NFT Marketplace Aggregator
- RocketX APIs / Swap Widget
- Launchpad for new blockchains
- Android & iOS app for Wallet-less Swap
- Limit Orders
Clearly, RocketX is positioning itself to capture the maximum share of both the personal and crypto B2B markets.
My Thoughts on RocketX and RVF
RocketX is far from being perfect right now, mainly because it doesn’t actually enable you to trade ANY token on ANY chain.
There are limitations to these “ANYs” but that’s where they’re heading.
I love omnichain DEXs
I love concentrated liquidity
I love fixed and limited-supply tokens
I love multiple token use cases
I love investing in projects I use regularly
I love revenue share
I love token buybacks
I love simple and effective products
I love that almost all tokens are already in circulation
I love teams that are committed, responsive, and continue to BUIDL
I love to see an active community and raving fans
You get exactly where I’m going. I love RocketX, even though it has certain limitations which I already highlighted above (with some workarounds).
Also, RocketX is positioning itself to capture a good share of both the personal and B2B (business to business) crypto markets.
Its target audience is all crypto traders using its Swap feature; and every crypto wallet, exchange, or dApp potentially uses their APIs and Swap Widget.
The growth potential of the project is massive, and I just recently started accumulating RVF and will be HODLing for the really long term.
It’s on my “Gems” list.
If you want to trade any token on any chain at the best rates and lowest fees, consider using RocketX Exchange.
It is the most advanced CEX and DEX aggregator, providing simplified access to over $1 billion of liquidity across 450 DEXs, 6 top CEXs, 20+ bridges, and 200+ blockchain networks.
The user interface is so simple even normies can easily find their way around it.
But beware of all the limitations discussed above and use the workarounds if needed.