Matcha just got even better with a serious upgrade to its pricing engine. Trade like a whale with the absolute best prices on trades from $5,000 to $10,000,000 and beyond! Experience the power of the new 0x Swap API v2 and maximize your profits on every trade with the most advanced trade routes in crypto.

• Unbeatable pricing on swaps - outperforms 1inch, Uniswap and the rest to deliver the most tokens to your wallet.
• New liquidity sources for 97%+ coverage on Ethereum, Base, Arbitrum and Optimism.
• Serious security with Permit2 for one-time token allowances.
• New 0x Argon order routing and beautifully detailed routing graphs to match.

Make Matcha your home for onchain trading and join thousands of traders who know there’s no better place to get the absolute best price, every time. Read on to see how we made it happen! 

Serious pricing with new router Argon

Efficient onchain trades depend on having a sufficient amount of liquid tokens available. As trade sizes increase, your trades consume a larger portion of the available token supply, and it becomes more difficult to complete swaps without causing prices to spike. 

That means that even large decentralized exchanges (DEXs) like Uniswap struggle to keep up with demand and give fair pricing when an individual trade can consume $50,000+ of tokens at once! Worse still, they often quote an idealistic exchange rate without accounting for execution costs, leaving you with even less tokens than you expect.

Matcha is a DEX aggregator, meaning it improves the price your trade is executed at by pooling together all the liquidity from many sources, and then splitting large trades into pieces so no individual part is large enough to create a supply shock. This is trade routing, and it’s where the magic of v2 makes the most cutting-edge advances.

Matcha will also show you the real amount you will actually receive to your wallet, after accounting for network fees, slippage, and other onchain variables, instead of quoting an ideal best-case scenario which many competitors do. That means you can rely on the quoted price being the price you get, every time!

Multiplex, multihop

The previous version of Matcha’s swap engine would take your trade and find a way to split it across different market makers - both automated market makers (AMMs) and private market makers (using RFQ) - to maximize profit, in what’s known as a multiplex trade.

The new Argon router built into 0x v2 combines multiplex routes with multi-hop functionality, which allows trades to convert to intermediate tokens before being swapped again to the token you receive, letting it find the absolute best price across all possible routes.  

As an example of how this works, for a $50k trade Matcha may calculate a route that: 

• Sends $15k directly to the token you want via 0x RFQ private market makers.
• Swaps another $10k through RFQ for USDC and then to the token you want via PancakeSwap and Maker.
• $12k could be split across Uniswap pools, with an intermediate trade to USDT then another DEX to complete the trade.
• The remaining $13k might then be distributed among half a dozen smaller market makers, without affecting the price!

To see the route your trade will take, simply click on the Best route icon in your trade module.

Visualize your ideal route

Making sense of trade routes is difficult through written examples or percentage breakdowns. Every trade on Matcha now features a beautiful Sankey diagram that shows exactly what’s going on behind the scenes, from simple one-to-one trades to complex routes involving dozens of cross-pool cross-asset trades to get you the most tokens for your money.

As you can see in the animation above, this token swap from DAI to WBTC involved seven liquidity sources, three intermediate token swaps, and split a $10 million trade across twenty-two pools - including private market makers - for just 0.9% price impact! Making the same trade on Uniswap would result in a loss of around 3 BTC ($180k). Want to learn more? Read our blog on trade order routing.

For serious liquidity

Even with optimal routing, it takes deep liquidity to get consistently great prices on any trade, big or small. That’s why Matcha has integrated new liquidity sources to enable you to squeeze every last drop of profit from your trades. Now, you can access almost all of DeFi protocols’ liquidity from one single interface! 

Check out just how deep our liquidity coverage goes across the top ecosystems, with even more liquidity sources still to come! Data sampled on June 25. 

97%+ liquidity coverage on Base

Matcha proudly connects to every significant liquidity source on Base, ensuring you can access any token you want and always get robust pricing no matter how much you’re trading. As the fast growing L2 ecosystem, Base is leading the memecoin movement as well as positioning itself as the home for new traders, who will all benefit from the flawless coverage of Matcha. 

98%+ liquidity coverage on Ethereum 

Capturing the majority of liquidity on Ethereum means you will always get the best price on trades, with unbeatable routing that calculates the most efficient path through hundreds of DEX pools, private market makers, and even finds the most liquid intermediary token pairs. Get the absolute best price on trades of up to $10 million and beyond. 

99%+ of liquidity coverage on Arbitrum One

Arbitrum is one of the largest Layer-2 ecosystems with over $5B in weekly trade volume. Matcha integrates the major liquidity sources on Arbitrum and achieves the deepest liquidity by tapping into multiple pools at once. For serious trading, you need low network fees, quick settlement and sophisticated routing. Trading on Arbitrum has never been so efficient as it is with Matcha on 0x v2!

99%+ of liquidity coverage on Optimism mainnet

Optimism mainnet is at the heart of the Optimism superchain and powers almost $1B in weekly trading volume on the mainnet alone. With liquidity coverage concentrated to major sources like Velodrome and Uniswap, Matcha lets you tap into up to 99% of all liquidity to get the lowest price impact and the best prices on Optimism.

Serious about security

One crypto statistic that is rarely addressed is that over $6.5 billion of capital is currently at risk of smart contract approval exploits, with $2 billion in DEXs alone! The habitual practice of designing apps which require users to set unlimited token spending allowances is a major flaw which has created a ticking timebomb for most exchanges.

Matcha on 0x v2 now uses Permit2 enforced with one-time allowances, putting an end to this once and for all. While previously designed to enforce a cap on spending limits, offsetting a majority of risk, this new implementation will prevent any amount of funds from being exploited at rest.

What is Permit2? 

Permit2 is a standard that allows greater smart contract security with more efficiency, making it a critical advancement for secure swap application. Where previous apps using Permit2 opted for timebound infinite approvals, Matcha on 0x v2 eliminates risks present in timebound implementations by introducing strict one-time approvals that ensures funds are always protected between trades. 

Built to outperform

Get the best prices fast, without shopping around. Trade onchain with instant swaps and always get the price you’re quoted. No more wasted gas, slippage slip-ups or low-liquidity losses! 

Matcha finds the best route through over 120 DEXs and other liquidity sources in the blink of an eye, so you can catch every opportunity across 6+ million tokens. Everything is built for serious performance: get a quote, sign and trade - with millisecond latency!

There’s no other DEX or DEX aggregator that can provide the execution quality of Matcha across any trade size. And it’s all wrapped into one beautiful clutter-free interface with so everyone from onchain beginners to daytraders, whales and fund managers can get the same unbeatable experience

All you need is Matcha

Decentralization doesn’t have to mean a fragmented experience. Matcha brings together the best of Web3 into one unified onchain trading experience, so you get the best prices with no added fees, for a seriously good trading experience. 

Matcha powered by 0x v2 is the ultimate onchain trading solution that you can rely on to find the best price across all options, with more token options than any other app and the liquidity to back it up. Try it for yourself on matcha.xyz and take one last trip to your old favorite DEX to compare prices - you won’t be going back!