PulseChain is finally here, and chain activity is very intense. PulseX is operating most swaps on the network, and the Pulse Ramp bridge is finally open to let people in and out of PulseChain – Ethereum. The queue is very long, and people can’t wait to bring their funds in. Blockchains other than Ethereum are cut off direct transit, but Portal X brings an aggregator system that will find you a route to your destination.
What is Portal X
Imagine that you want to send a token from PulseChain to Avalanche. It can be done, but to do that, you need to swap your PRC-20 token for a coin that can cross the bridge, then swap that token on the destination chain for a native currency, and then, in the end, swap it for the token you wanted to obtain. This is not only confusing and time intensive, but also very expensive. You need to find all the DEXes and the bridge and deal with multiple interfaces and perhaps even different wallets. If you count the number of clicks that will take you from here to there, it can be around 40–50.
Portal X is here to help you. It’s your taxi, in which you say where you want to go, and it takes you there. It’s an aggregator of different DEXs and bridges, finding for you the best way to your destination.
Portal X does everything for you in one transaction. You’re shown the rates and the route, and you accept them or choose another one. Everything is done in a completely trustless way, where you remain in control of your keys the whole time. Portal X doesn’t manage anything for you; it only finds you the way and lets you through.
The team partnered with Multichain, one of the biggest and perhaps one of the safest cross-chain routers in blockchain. They use MPC nodes and sign transactions in a trustless way.
Hacks on bridges are very common, and they’re one of the pain points in the blockchain space. This is because most are centralized, but Multichain splits the keys across many nodes, which makes it difficult to exploit.
Pulse Ramp is for now the only bridge on PulseChain, which makes it the main route to all the other 47 networks.
How does Portal X work
When you connect your wallet, you will be able to choose the starting network and a token from the dropdown list. Each of the tokens has a trust score and a star if you wish to add it to your favorites. You choose the destination and the desired token. You’ll be shown different routes, their costs, and the required execution time. By pressing the button in the upper right corner, you will be able to insert the destination address and set the slippage.
What is Portal X Limit Order
Pulse X also has Limit Orders in their wab app, which execute limit orders for you. What is a limit order? It’s an order to sell or buy a token at a specified price. You set the allowance of the token or coin you want to exchange for another asset and the time frame in which you’re willing for that trade to execute. If the limit order you set expires automatically, you aren’t charged a fee. The fee is charged only if you cancel your order manually.
What is Revoke
Revoke is the third tab in the interface of Portal X, and it serves to revoke permissions you gave to different dapps. For example, to trade on Uniswap or OpenSea, you’re required to give an allowance for using your tokens. The dapp is free to spend the tokens within the limits you set, but when you don’t want the dapp to be able to use these tokens anymore, you need to revoke the access, and you can do this with this tool. You’ll need to connect your wallet and scan your allowances. Then you can remove them.