How to develop a DEX — BotSwap15 Apr 2022
What to trust: a controlled service or a decentralized one? And what to develop?
One of the most frequently used tools in the blockchain is the exchange. Thus, many create their products to operate the most convenient and popular service, and, of course, to get a profit. The exchanges considered the most well-known now are centralized. Should it be so, or will it be so in the future?
Earlier, we wrote the article «Anonymous crypto exchange vs. DEX» about the difference between these two subjects. Take a look if you would like to know about it too.
If you want to trade cryptocurrencies and other tokens, you search for an exchange. There are two types of them:
CEX is a centralized exchange where you provide your assets to the platform, and it stores and transfers them inside itself.
DEX is a decentralized exchange where you connect your wallet and run your assets yourself.
Pros and cons
The pros of DEXes are:
1. No KYC (know your customer). CEXes require proof of identity and address while DEXes don’t. The only thing you need is to connect your wallet.
2. Asset security. Your assets can’t be stolen because they are not stored in the exchange.
3. Additional tokens. If a token can’t be listed on a CEX, it can be listed on a DEX.
The cons are:
1. Long wait. All trades are conducted between users, so you can’t act until there’s an offer and vice versa.
2. Liquidity and pricing. Lack of liquidity is a basic DEX trouble. This can cause unfair pricing or an inability to perform certain operations.
Keeping blockchain decentralized
We consider it important to develop the market of DEXes because they offer anonymity and autonomy, despite the fact that they're still not perfect. Every new client comes up with useful functions and modifications, and at least thanks to this, the whole sphere is developing.
BotSwap is the DEX developed by Rock’n’Block. The features our team has implemented are swap, liquidity pool, farming, staking, and bridge.
What to notice?
The staking function is presented in four pools. Users can lock the native tokens for 10/30 minutes or 1/2 hour(s) with different APR.
BotSwap has a built-in bridge, which means users can easily switch between the desired blockchains anytime.
The stack is:
Despite that BotSwap is the first case we show, we’ve developed several DEXes before. If you are interested in reliable development, choose a company that has enough experience to produce a viable product.
Rock’n’Block’s team is not limited in development. We can help with:
⚡️NFT and NFT Marketplaces development ;
⚡️NFT 10K generator;
⚡️Any other custom request from a crypto wallet development to custom blockchain development.
If you’re interested in building your blockchain project, feel free to contact our team via the Telegram channel or book a call via Calendly.
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