Decentrx

Inspiration

Investing in new crypto tokens is a great opportunity to everyone, but this kind of opportunity was only previously available to venture capitalists and other institutional investors. With Decentrx we want to bring DeFi to everyone, even regular retail investors have an opportunity to invest in a promising project at a low price, before it launches publicly and prices shoot up.

What it does

Decentrx is a platform that allows purchasing tokens of new projects before they become publicly available. Decentrx helps new projects to carry out crowd sales easily. Their investors can buy tokens at the lowest possible price. As the project develops, the price of tokens grows. On the other hand, Decentrx is the perfect solution to raise liquidity in a decentralized exchange like Diffusion.

How we built it

At the beginning we started Decentrx as a MVP with only 1 developer who was recently getting started on web3. After a lot of research about DeFi protocols we finally had a functional product with minimum features to create a pre-sale and add liquidity. After this first approach we realized that it was going to be a little more complex, so we added more people to the project and we could add more features, like private pre-sales, emergency withdrawals, pre-sales cancellations, liquidity lockers and more.

Challenges we ran into

One of the greatest challenges we faced building Decenrtx was the one related with the Uniswap Protocol, we had to do a lot of research to clearly understand how Uniswap works in order to interact with their contracts.

Accomplishments that we're proud of

We have developed a DeFi solution which allows a normal user to access to the opportunity to purchase project tokens at a discounted price. Purchasing project tokens early in their life cycle can be a very profitable investment because their value can soar after they go public. With Decentrx we are helping to create a world more decentralized and more fair to everyone.

What we learned

We learned that DeFi security is a must. The world of decentralized finance faces the problem of DeFi token and protocol vulnerability. Only for the first 5 months of 2022, DeFi hacks have amounted to $1.4 billion in financial losses, that is why we had to learn and to apply several security checks like a high code coverage, run code analysis tools, apply security patterns in order to prevent reentrant calls.

What's next for Decentrx

In the next few days, we are looking to audit and deploy our contracts to the Evmos mainnet, also we are looking forward to improving our solution by adding a multichain support feature and creating a new module which will allow users to create their own ECR20 Tokens.

Built With

• defi
• ethersjs
• hardhat
• microservices
• mocha
• mongodb
• mongoose
• nestjs
• react
• solidity
• typescript