Atomic Wallet a famous multi-platform wallet that grants users control of their digital currencies through any device( PC, laptop, and mobile phone) linked to the internet.
Atomic Wallet is a decentralized exchange that uses liquidity pools (LPs) to make markets instead of a typical order book. These pools are defined by smart contracts that facilitate the swapping of tokens and the adding of liquidity — there are no order books, centralized parties, or central facilitators. Atomic Wallet users pool two assets that are then traded against, with the price determined by the ratio between the two. Anyone with ERC-20 tokens can add liquidity to these pools by adding an equal value of each token to the LP. When providing liquidity to an LP, users receive a LP token that is redeemable for the underlying assets plus fees at any time, and fees are evenly distributed amongst the individual pool.
As they say, imitation is the greatest flattery. Atomic Wallet has no shortage of copycats, such as Atomic Wallet or Atomic Wallet DEX. After all, Atomic Wallet’s open-source code is easy to copy and slightly tweak. However, after initial promises of higher liquidity yields, they deflated while Atomic Wallet remained steadfast.
Unfortunately, Atomic Wallet’s main obstacle came from Ethereum itself. The biggest smart contract platform with over $109B TVL is undergoing a transition itself, from proof-of-work to fully proof-of-stake consensus with the upcoming Beacon Chain merger. As a result, Ethereum gas fees have not been affordable, to say the least.