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2020-09-18


New Decentralized Exchange on EOS launched: Evodex

new-decentralized-exchange-on-eos-evodex

The EOS Costa Rica and EOS Argentina team worked together to release a new decentralized exchange on EOS: Evodex, where users vote on the pool liquidity fees, earn part of the generated commission and pay zero gas. It is already accessible on their front-end.

"A decentralized peer-to-peer medium of exchange is the linchpin DeFi tool. Trading leads into lending, which leads to a wider range of P2P tokenized interest-bearing instruments, and this is what makes building Evodex so exciting; it's the first major step to a symbiotic ecosystem of DeFi applications." - Edgar Fernandez, co-founder of EOS Costa Rica

Through Evodex, the two teams want to facilitate the adoption of DeFi on EOS. On Evodex, users can freely launch and interact with continuous liquidity pools in a decentralized exchange.Users who add liquidity will be able to earn part of the generated commissions, in this way, it should simplify and promote the use of EOS for financial instruments.

The liquidity providers of the pools are awarded the right to collect the fees generated by the pool, and can also vote for the amount of fees they want to charge. Since Evodex run on EOS, traders will only have to worry about paying fees to liquidity providers, and will not have to pay any transfer fees.

EOS Costa Rica took care of the development of the Evodex front end, already accessible on evodex.io, while EOS Argentina created the underlying smart contracts. Moreover, the project is completely open-source and can be integrated into any other front-end by other developers, even on other exchanges. In this way it would be possible to share the same liquidity on multiple exchanges.

Evodex features include:

  • Swap between cross-chain wrapped tokens like pBTC
  • Liquidity providers vote and decide on the pool's fees they collect
  • Shared liquidity among all the exchanges that connect to the protocol
  • Fast and fee-less arbitrage trading
  • Trading pair creation
  • Open-Source Smart Contracts and UI

Sources:

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