The blockchain industry over the years has experienced exponential growth with so many companies and individuals leveraging on it to create magic and solve real-life problems.
The cryptocurrency market also continues to evolve at a breakneck pace, with innovations and new projects popping up regularly. In this ever-evolving environment, DEX223 emerges as a pioneering decentralized exchange (DEX) specifically designed to support ERC-223 and ERC-20 tokens. This platform represents a significant step forward in security, gas efficiency, KYC-free and fully decentralized exchange (DEX) built with Ethereum smart contracts.
What is DEX223?
DEX223 is the first Decentralized Exchange (DEX) dedicated to facilitating the trading of both ERC-223 and ERC-20 tokens, offering Passive Income and Governance Rights by locking its Utility Token $D223.
The next generation Decentralized Exchange was founded and built by Dexaran, a security specialist and whitehat hacker who brought a long-expected solution to the critical security and efficiency problems that arose with the ERC-20 Token Standard.
The Significance of ERC-223 and ERC-20 Token Standards
Before diving deeper into DEX223, it's crucial to understand the significance of the tokens it supports. ERC-20 token standards are the backbone of the Ethereum blockchain, allowing for the creation of smart contracts that power a vast array of decentralized applications (DApps) and projects. However, the ERC-20 token standard is faced with limitations, particularly in handling token transfers, sometimes resulting in lost tokens when sent to incompatible contracts.
ERC-223 token standard is here to address these issues, offering a more secure and efficient method of transferring tokens by preventing accidental losses and reducing transaction fees.
Features of DEX223
DEX223 stands out by offering a solution to this problem, providing several key features:
- ERC-223 Token Standard Support: The integration of the ERC-223 token standard addresses the critical flaws of ERC-20, enabling direct control over funds without needing approvals, it promises to enhance transaction efficiency, potentially reducing GAS usage by about 15% and setting the stage for encapsulated margin trading.
Encapsulated Margin Trading: DEX223 will introduce a feature allowing users to create "lending orders" where they can offer their funds in any token, specifying terms such as the interest rate, deadline, eligible markets for trading, required collateral, and other configurations. Another user can borrow these funds by depositing the necessary collateral. Once part of the lending order, the borrower can trade with the borrowed funds in the approved markets as per the lender's settings, but cannot withdraw them from the platform.
Transparent Auto-Listings: DEX223 will enable users to import token lists from https://tokenlists.org or directly from an auto-listing contract, allowing for the listing of tokens on the platform without needing permission or interaction with the exchange team.
Public ICO has started on February 15th. Ends September 25th 2024
There will be no vesting period for the ICO and pre-sale Tokens but for core team Tokens (9.5%) and project development & team incentivization Tokens (9.5%). You can participate here - https://www.dex223.io/
For more information, please visit https://www.dex223.io/