Developing a new DEX on FXCore EVM - Suggestions!?

Hey Pundi X Community,

Recently moved to Singapore so that I can get more closely involved with the crypto space.

The Pundi X project - FXCore - has piqued my interest as of late as they are the first EVM (Ethereum Virtual Machine) to go on the Cosmos ecosystem.

To keep it short, I am thinking of building a Decentralized Exchanged (DEX) on the FXCore EVM.

I am reaching out to the community to see what kind of features the users would like to see on a DEX. Any suggestions, no matter how small, is welcome.

Dexter

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I would love to see a similar feature that KyberNetwork is using.


Source: KyberSwap - Swap and earn tokens at the best rates

Users have the option to choose between maximum return vs lowest gas, depending on the user’s priority at the time of swap.

With charts at the side too, for users to see current price / trends. I’m noticing more and more DEXes are starting to put charts. It provides the user more clarity on the token’s trending price up/down.

The old DEXes didn’t put charts when they first started on it but they added it, example: PancakeSwap


Another one for the future if there are multiple DEXes on FXCore would be something like:

MetaMask Swap (Recently released)
1Inch

They are a DEX aggregator. It finds the best rate and lowest fee from all the different dexes and uses it.

I’m pretty sure aggregators are becoming more and more popular since it gives the user the best possible outcome through automation. It is all about UI/UX nowadays.

It cut the user some slack without having to go and compare prices from each different DEX. I assume there would be a lot of arbitraging going on for traders too, which would promote on-chain activity on FXCore.

Win-win scenario.

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I’m not sure of limitations but for me the ability to DEX trade between all coins that I will have sitting in/on the Core Fx Px networks wallets; to be able to trade them between each other or to a stable coin
( Hopefully FXUSD that will be stake-able to Fx or Px Validators ) this is the most important vision for me. this I believe will give us the greatest ability to increase our own wealth within the Fx Core networks wallets, it would be a super highway DEX trade if the trade can crosschain in the same motion, for example if I wanted to trade some Matic from Polygon network wallet (in my Fx wallet app) on to say FX on my Fx core Next work wallet.

just something to extend of Scene’s last comment, A DEX that can point out great arbitrage opportunities would be a hit as well; just a thought.

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Hi, welcome Dexter. It’s good to see you in the forum and glad that you are nicely camped out in our Singapore office since last week.

FYI community, Dexter have been in touch and took the plunge to move from Australia to Singapore, his idea is to build a DEX on FXCore.

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@DEXter

I really like the idea. My fox project thinking about develope a dex too. Maybe you can join our project team. We are currently developing the „Foxchange“,
an nft marketplace for our loved fx chain.

Foxchange -nft marketplace
Foxswap - dex exchange

I think we should at least discuss the option to integrate you into fox project to make it bigger :slight_smile:

And I really like that you sitting next to @zaccheah :raised_hands::raised_hands::raised_hands: that would be a nice benefit for us :sunglasses:

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Another interesting one i found is an AMM like Balancer.

Currently, majority of the DEXes out there follow the traditional Uniswap model with only 1 pair per pool.

Balancer can have more than 2 crypto and up to 8 tokens in a single pool which makes it stand out amongst the rest of the commoners.

image

Terra is building and funding a Balancer fork AMM DEX on Avalanche called Hexagon Finance.

Full article - Everything you ever wanted to know about Hexagon Finance | by Hexagon Finance | Hexagon Finance | Apr, 2022 | Medium

It is quite interesting actually. Trading multiple tokens in the same pool - something new and modern, away from the traditional v1 Dex.


Lesser chance of getting impermanent loss.

image

Do read the article, pretty interesting.


How cool is this.

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Thank you for all your help, everyone. We will be taking into account all of the information and advice provided by our community. Depending on the business requirements, it may be best that we join Pundi X to ensure sustainable development and follow industry leading best practices.

Dexter

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