DEX’s (Decentralized Exchanges) have brought people a financial freedom with benefits such as asset custody, a lack of listing limitations, and trades without relying on intermediary institutions. Stemming from the monolithic days of pioneering crypto when Mt. Gox constituted over 70% of all BTC (Bitcoin) transactions in 2013, DEX’s have developed to harbor sophisticated smart contracts, aggregation ‘all over the blockchain’ while still offering a ‘seven-year-old simple’ UX (User Experience).
Putting into perspective the progressions there have been numerous technical evolutions that have taken place, leading up to the notoriety of DEX darling Uniswap, which was trading nearly $1 billion daily back in Sep. 2020. Some of these technicalities include HTLC’s (Hash Time Locked Contracts) popularized by organizations such as LocalBitcoins, which trustlessly performs peer-to-peer atomic swaps off-chain of any two assets.
Other early DEX’s like Shapeshift and Changelly, brought into play a semi-decentralized transactional element where funds are sent into a controlled address while they await a counterparty trade. After that, shortcomings of costly and slow on-chain orderbooks ultimately made way for the popularity of AMM’s (Automated Market Makers) that execute trades in liquidity pools based on particular formulas in their respective smart contracts.
Then aggregation based DEX’s came into being, to solve a similar issue that arose out of AMM’s. High gas fees and network congestion (Specifically Ethereum), put up an ‘army-like blockade barrier’ to the average retail investor, which is why a ‘deluge of digital developers’ began making DEX’s on different chains (Binance Smart Chain, TRON, EOS).
Looking over from a ‘bird’s eye view’ the abundance of crypto assets and blockchains, spark an urgent need to facilitate cross chain exchange, while also factoring in the prevalence of how Layer 2 will eventually need to be incorporated for viable scale and inclusion. Taking into account the history of DEX’s and formidable foresight of future implications, SmartDEX was created.
Built on the 0x platform (a professional grade liquidity aggregator) SmartDEX consists of an interface of classic Orderbook and Swap style. As an enhancement of AMM’s, SmartDEX contains an IMM (Intelligent Market Maker) that has the capability of combating impermanent losses, arbitrageur manipulation prevention, and risk management with stop losses. AI powered pricing policy within the IMM protocol also effortlessly facilitates multi-chain exchange including instant deposits/withdrawals to give flexibility and functionality.
The orderbook is in integrated with NIOX Swarm, a liquidity mining provision within the NIOX Suite (Autonio Ecosystem), that brings crowdsourced liquidity. There is also a 0% fee on order cancellations, which accentuates a high order throughput. Integrating as well with the Matic Network (Now Polygon), SmartDEX alleviates the horrendous headaches of expensive gas while improving overall user speed with its underlying Layer 2 innovations.
Taking into consideration the cross-chain bridges that unify liquidity across several chains and protocols, SmartDEX is prominently positioned to serve a global group of crypto users. As the first truly intelligent decentralized exchange to trade digital assets, SmartDEX has the capacity to bestow another revolution within the DEX space and DeFi (Decentralized Finance) as a whole.
You can get started trading at www.dex.smartdex.app