This article is a development report of a Dex223 decentralized exchange.
We’re building an exchange to speed up adoption of the ERC-223 token standard. ERC-223 was created to solve a security problem in the older ERC-20 standard. Security issue of ERC-20 caused $200M losses on Ethereum in 2023.
Take a look at Dex223 development reports.
Partnership with EOS Support
Dex223 team and EOS Support established a strategic partnership. EOS Support will represent Dex223 in the EOS community as we are planning to deploy an instance of the exchange in EOS EVM.
EOS Support team will receive 10% of D223 tokens deployed on EOS EVM.
Read the announcement here.
Crosschain deployment strategy
We aim to deploy Dex223 on every EVM-compatible chain as our goal is to prevent the proliferation of the insecure token standards.
Each D223 token purchased on Ethereum during the ICO will provide the buyer with an equal amount of D223 tokens on each chain.
The Dex223 team will seek strategic partnerships in the communities of each network in which we will deploy our exchange. We are willing to transfer a share of the team’s tokens to the influencers who can represent us in their communities.
Read the announcement here.
Dex223 smart-contracts
The implementation of the smart-contracts will start after the pre-ICO round 2 is completed.
We are done refactoring Uniswap v3, SOY.Finance, Bancor v3 and 2Bears smart-contracts. We will most likely use Uniswap v3 contracts as a base but the contracts needs to be modified for ERC-223 standard support.
Dex223 interface
The biggest challenge we faced while designing the UI was preventing user errors related to utilizing appropriate balance. As we are implementing the margin trading feature users of the Dex223 platform will have multiple options to make a trade:
- Use tokens from the users wallet balance
- Use tokens from the open lending orders available to the user — in this case it also matters which orders to use
In order to avoid possible confusion with balances we decided to split the SWAP and MARGIN TRADING tabs apart.
There were a lot of changes in the UI during this month that you can review in our Figma.
The following tasks remain for the UI development:
- Borrowing/Lending tab
- Lending orders management
- Liquidation service UI
ICO smart-contracts
We’ve finished the D223 token and ICO contracts. Deployed them on the mainnet (here and here). Tested, found bugs, fixed, deployed again (here and here).
What makes you a worthy security expert is the knowledge that your contracts needs to be tested and audited 30 times before going live.
Now we have a production-ready ERC-223 Token and ERC-223 ICO contracts on the mainnet:
We will use this contracts to demonstrate the workflow of ERC-223 in production to Etherscan, MetaMask and other service providers while convincing them to support the ERC-223.
ERC-223 Token guidelines
A comprehensive guideline How to create a ERC-223 token is completed. In the next articles we will describe how to work with ERC-223 tokens in more details.
The article does not give much traction on Ethereum media resources so we are looking for an alternative ways to popularize ERC-223 standard. We will be looking for content makers to partner with in order to spread the word about token standards problem.