We got inspired by the stable token from MakerDao and the potential it brings to the crypto community, in particular to the decentralized exchanges.
What it does
It provides an easy way for users to buy/sell any ERC20 token using DAI with a DEX. It aggregates liquidity for different DEX and is able to execute a trade cross different DEXs. It hides all the complexity of using DEX to the user by providing a simple interface where the user just needs to state how much tokens does it want to buy/sell and we do the rest..
How we built it
To get ERC20/ETH liquidity from different DEX we used dexdex platform and to transform the liquidity to ERC20/DAI we use makerDao onchain exchange smart contract.
Challenges we ran into
It took us some time to understand how MakerDao smart contract worked and set up a working local environment that involved deploying smart contracts such as: Weth, EtherDelta, MakerDao, Dexdex, Dai token, etc. Simulating offline liquidity was also very hard.
Accomplishments that we're proud of
We like how our User Interface hides all the complexity of DEX to end users. The user doesn't have to know about things like:
- orders & matchmaking
- wrapping eth into weth
- zrk token fees
- talking to several DEX in the same tx
- buy/selling DAI in order to create liquidity from DAI - ERC20 tokens
We also like, that our app is potentially a widget that can be embeded anywhere, and we have a fmk that let us add different DEX in the future.
We have a mobile first UX too!
What we learned
We learned a lot about MakerDAO, DAI, CDP; thanks to the awesome help guys from Maker gave us. It has opened our eyes to other possibilities that we'll surely explore in the future.
What's next for DaiDex