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The First ERC-223 Compatible Exchange on Ethereum
Decentralized exchanges (DEX) have swiftly emerged as the bedrock of the blockchain ecosystem, fostering a secure and trustless environment for the trading of digital assets. In June 2020, their trading volumes represented a modest 1.69% of centralized exchange trading. However, fast forward to June 2023, DEX volumes have surged, commanding an impressive 16.81% of CEX volumes. This rapid expansion underscores the dynamic growth within this domain, yet it also spotlights two primary challenges: security and the integration of cutting-edge industry technologies.
In response to these challenges, DEX223 has emerged as a groundbreaking force within the decentralized exchange sphere. Developed by a team of security experts led by Dexaran, Founder of Ethereum Commonwealth and Callisto Network, this platform introduces a novel ERC-223 token standard. This standard not only optimizes gas usage but also unlocks new functionalities previously unattainable through the flawed ERC-20 standard, which had resulted in the loss of millions of funds on the Ethereum blockchain. DEX223 stands poised to redefine the landscape, emphasizing paramount security measures, innovative features, and an unwavering commitment to transparency.
Innovation and Unique Features of DEX223:
ERC-223 Support: DEX223 tackles the security issues associated with the ERC-20 standard by adopting ERC-223. This prevents user mistakes and optimizes gas usage by approximately 15%. The platform will also support ERC-20 to ensure compatibility.
Encapsulated Margin Trading: Users can place lending orders, specifying interest rates, deadlines, allowed markets, and required collateral. Liquidation is implemented based on time and expected balance, eliminating the need for external price oracles.
Transparent Auto-Listings: DEX223 allows users to import tokens from established token lists, promoting decentralization. The auto-listing contract enables anyone to list a token without permission, redistributing listing fees among DEX223 token holders.
The primary goals include:
Security First: DEX223 places the safety of users' funds above all else, implementing measures to prevent losses due to user errors, hacks, or any other threats.
True Decentralization: The exchange aims to be truly decentralized and unstoppable, with smart-contracts, token listings, and the interface operating autonomously.
Innovation at its Core: DEX223 introduces revolutionary concepts, addressing the flaws in the ERC-20 standard and incorporating features like ERC-223 support, encapsulated margin trading, and transparent auto-listings.
Comparative Analysis
A detailed comparative analysis showcases DEX223's strengths, including support for multiple standards, deployment on various chains, innovative features like encapsulated margin trading, and a commitment to true decentralization.
Building Trust
DEX223's trust-building initiatives include past achievements with Soy.Finance, a three-year unhacked record, and the efficiency of ERC-223 in terms of gas consumption.
The Team
The experienced team behind DEX223, led by founder Dexaran, includes smart-contract developers, security auditors, and product managers, ensuring a comprehensive skill set to drive the project forward.
Tokenomics
The D223 token, the native token of DEX223, plays a crucial role in the platform's economic model. With a total supply of 8 billion D223 tokens, the distribution includes allocations for pre-ICO sales, core team, project development, private investment rounds, and public sales.
Market entry strategy
To attract liquidity providers it is planned to artificially increase the amount of rewards by deploying a share of raised funds as an "extra reward for the early liquidity providers". This strategy was used by Callisto Network team to increase the early staking rewards during the adoption phase of Callisto Network Cold Staking and proves to be efficient.
Note: Callisto Security team founded by Dexeran performed more than 330 security audits. Not even a single smart-contract audited by the team was ever hacked.
Benefits for D223 tokenholders
Token holders receive a share of DEX223 trading & listing fees, ensuring a sustainable revenue model.
Participate in the configuration of the platform variables:
Trading fee
Listing fee
Liquidity provider fee
Margin trading criteria
Token statuses
Airdrops: D223 tokens will be sold on Ethereum mainnet. DEX223 exchange will be deployed on multiple chains. Token holders who had their D223 tokens on Ethereum will get an equal amount of D223 tokens on every chain at the moment of the DEX deployment on that chain. The following chains are confirmed: Ethereum, Avalanche, BSC, EOS EVM, CELO, Base, Optimism, Arbitrum.
Conclusion
DEX223 is poised to address the shortcomings of existing standards and introduce groundbreaking features. With a commitment to security, transparency, and innovation, DEX223 aims to redefine the decentralized exchange landscape, offering users a secure and efficient platform for trading digital assets.
Token Sale
The first presale round was completed on September 15, 2023 within 24 hours.
The second presale round will start on December 4, 2023. 160,000,000 D223 tokens (2%) can be purchased at a 45% discount compared to the main ICO round.
Currently, a private pre-sale of tokens is ongoing. Contact dexaran@ethereumclassic.org for more details regarding participation.
Author: Dario Cesaro
Editor: Markus Hinrichs, Randall Roland
Sources & References