Decentralized exchange based on the 0x protocol

DEX with low transaction fees on Binance Smart Chain
Project goal
Our client is building a De-Fi ecosystem. An important part of it
is the project and partner tokens. It is possible to issue tokens with certain features and sell them to other users in and outside the ecosystem.

An exchange was needed to provide liquidity for the issued tokens.
Duration
5 months
Timeline
2 460
Team
Product Owner
Project manager
UI / UX Designers
Analysts
Developers
QA
Technologies
Android, iOS, Golang, Vue JS, Docker, Nginx, MySQL
Mobile apps
Web development
Product consulting
The client required a simple and transparent solution. It should be able to interact with other exchanges and allow to swap issued tokens outside the ecosystem.

We offered the client to choose between a centralized and decentralized exchange. The second option has many advantages. Firstly, the client does not store the user funds and is not responsible for them. Secondly, there is no need for the KYC procedure and personal data processing. Thirdly, community members can easily add any token for exchange.

In addition, the client prefers solutions based on smart contracts, as he builds a community of Web 3.0 enthusiasts around him.
Development
We have created a web application for displaying the order book.
It included a client-server architecture that displays a list of orders and calculates commissions according to the rules of the protocol. When
the user accepts an order, he opens the MetaMask browser extension and signs the transaction. The order is executed automatically according to the rules specified in the smart contract.

The 0x protocol is quite challenging to implement since it is based on
a multi-layer architecture and a chain of smart contracts that call each other. It took time to debug all exchange processes in a test environment.
Product Value
The web-based decentralized application we created has become an important part of the ecosystem and has increased its credibility. Now all participants can list their tokens on the exchange without centralized moderation. Such opportunities attract new players to the ecosystem and motivate them to promote the product within their communities. The ecosystem also takes part in liquidity networks.
At this stage, the ecosystem community voted to move from
the Ethereum blockchain to Binance Smart Chain. BSC is a hard fork
of the Go Ethereum protocol that provides cheaper transactions. Ecosystem smart contracts have been moved to the new blockchain. Since most of the features have not been deployed to Ethereum yet,
the transition was relatively fast. After testing and debugging smart contracts, we also deployed them to the Binance Smart Chain environment.
Having opted for a decentralized exchange, the client asked us to prepare an optimal solution architecture. It should be simple, reliable, and secure. We suggested using the 0x protocol, which was used by several well-known exchanges.

0x is a pool of smart contracts in the Ethereum network, which call each other and implement the exchange of tokens. The protocol describes
the interaction between a buyer and a seller. Participants create orders, which are placed on the order book and await execution. If there
is already an order from the seller, the buyer can accept it,
and the smart contract will do the rest. It also transfers commissions
to the network and the exchange.
Having opted for a decentralized exchange, the client asked us to prepare an optimal solution architecture. It should be simple, reliable, and secure. We suggested using the 0x protocol, which was used by several well-known exchanges.

0x is a pool of smart contracts in the Ethereum network, which call each other and implement the exchange of tokens. The protocol describes the interaction between a buyer and a seller. Participants create orders, which are placed on the order book and await execution. If there is already an order from the seller, the buyer can accept it, and the smart contract will do the rest. It also transfers commissions to the network and the exchange.
We have created a web application for displaying the order book.
It included a client-server architecture that displays a list
of orders and calculates commissions according to the rules of the protocol. When the user accepts an order, he opens the MetaMask browser extension and signs the transaction. The order
is executed automatically according to the rules specified in the smart contract.

The 0x protocol is quite challenging to implement since it is based
on a multi-layer architecture and
a chain of smart contracts that call each other. It took time to debug all exchange processes
in a test environment.
At this stage, the ecosystem community voted to move from
the Ethereum blockchain to Binance Smart Chain. BSC is a hard fork of the Go Ethereum protocol that provides cheaper transactions. Ecosystem smart contracts have been moved to the new blockchain. Since most of the features have not been deployed to Ethereum yet,
the transition was relatively fast. After testing and debugging smart contracts, we also deployed them
to the Binance Smart Chain environment.
Our client is building a De-Fi ecosystem. An important part of it
is the project and partner tokens.
It is possible to issue tokens with certain features and sell them
to other users in and outside
the ecosystem.

An exchange was needed to provide liquidity for the issued tokens.
The client required a simple and transparent solution. It should
be able to interact with other exchanges and allow to swap issued tokens outside
the ecosystem.

We offered the client to choose between a centralized and decentralized exchange.
The second option has many advantages. Firstly, the client does not store the user funds and
is not responsible for them. Secondly, there is no need for
the KYC procedure and personal data processing. Thirdly, community members can easily add any token for exchange.

In addition, the client prefers solutions based on smart contracts, as he builds a community of Web 3.0 enthusiasts around him.
Having opted for a decentralized exchange, the client asked us
to prepare an optimal solution architecture. It should be simple, reliable, and secure. We suggested using the 0x protocol, which
was used by several well-known exchanges.

0x is a pool of smart contracts
in the Ethereum network, which call each other and implement
the exchange of tokens.
The protocol describes
the interaction between a buyer
and a seller. Participants create orders, which are placed
on the order book and await execution. If there is already
an order from the seller, the buyer can accept it, and the smart contract will do the rest. It also transfers commissions
to the network and the exchange.
We have created a web application for displaying the order book.
It included a client-server architecture that displays a list
of orders and calculates commissions according to the rules of the protocol. When the user accepts an order, he opens the MetaMask browser extension and signs the transaction. The order
is executed automatically according to the rules specified in the smart contract.

The 0x protocol is quite challenging to implement since it is based
on a multi-layer architecture and a chain of smart contracts that call each other. It took time to debug all exchange processes
in a test environment.
At this stage, the ecosystem community voted to move from
the Ethereum blockchain to Binance Smart Chain. BSC is a hard fork of the Go Ethereum protocol that provides cheaper transactions. Ecosystem smart contracts have been moved to the new blockchain. Since most of the features have not been deployed to Ethereum yet, the transition was relatively fast. After testing and debugging smart contracts, we also deployed them
to the Binance Smart Chain environment.
We have created a web application for displaying the order book.
It included a client-server architecture that displays a list
of orders and calculates commissions according to the rules of the protocol. When the user accepts an order, he opens
the MetaMask browser extension and signs the transaction.
The order is executed automatically according to the rules specified
in the smart contract.

The 0x protocol is quite challenging to implement since it is based
on a multi-layer architecture and
a chain of smart contracts that call each other. It took time to debug all exchange processes in a test environment.
At this stage, the ecosystem community voted to move from
the Ethereum blockchain
to Binance Smart Chain. BSC
is a hard fork of the Go Ethereum protocol that provides cheaper transactions. Ecosystem smart contracts have been moved
to the new blockchain. Since most of the features have not been deployed to Ethereum yet,
the transition was relatively fast. After testing and debugging smart contracts, we also deployed them
to the Binance Smart Chain environment.
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