Bebop is debuting on Polygon for all users after rolling out a whitelisted service for traders on Ethereum over the summer.
Bebop will be designed to draw newcomers to the industry even though the platform is supported by Wintermute, an institutional-grade market maker in the decentralized finance space. It intends to accomplish this through a few crucial features.
First off, there are only a few buttons available to users on the exchange’s user interface. Users cannot provide liquidity, and there are no yield-earning options.
Bebop is not a decentralized automated market maker (AMM) like Uniswap or SushiSwap, which explains why.
An AMM enables users to make money by offering liquidity on particular token pair pairings. The purpose of this incentive is to provide deep liquidity and little slippage to traders who might want to swap between these two pairs.
Market makers will take over this arrangement in order to ensure that trades are carried out without a hitch.
Second, Bebop is promoting zero slippage on the platform in addition to a slick user interface. This phrase describes the price differential between an order and the execution price.
Buy and sell orders can occasionally increase volatility in a token’s price if that token’s liquidity is low; this can even happen in the few seconds between when an order is placed and when the user receives the tokens.
With just one click, users of the platform can combine a multi-token portfolio into a single token. Similar to that, users can spread their Ethereum holdings among different tokens, for example.
By combining several separate trades into a single batch trade, this feature also allows users to save on gas costs.