Unlike other exchanges that only use a single liquidity source, Matcha aggregates liquidity from a growing number of sources, including 0x, Uniswap, Balancer, Curve, Kyber, Oasis, and others. Similar to how a media aggregator works (ex. Google News or HuffPost for news, and MetaCritic or Rotten Tomatoes for reviews), Matcha pulls pricing data from all liquidity sources at the time of your trade. Matcha then uses an automated process called "smart order routing" to split your trade across all liquidity sources to provide you with the best price/lowest slippage possible. Smart order routing is especially helpful for larger trades where a single source is unlikely to offer you the best pricing. As we continue to add additional liquidity sources to Matcha, the pricing that you’ll receive will only get better and better!
Check out our Matcha blog to learn more about how How Matcha finds the best prices for DeFi traders.