DutchX - Smart Contracts
The DutchX is a fully decentralized trading protocol ("the Protocol"), which allows anyone to add any token pair. The only requirement is for tokens to be ERC20 compliant.
It uses the Dutch auction principle to prevent the problems prevalent at other exchanges (e.g. front running) to facilitate the development of a fairer Web3 ecosystem for everyone.
Please note that depending on how you use this Program, you may be required to satisfy additional local law requirements, which may include but are not limited to instating KYC/AML procedures and gaining legal authorisations from applicable regulators.
Checkout the DutchX Documentation.
Check out the addresses for the deployed contracts in
For developer we recommend to read the documentation and guides in DutchX Documentation.
Setup and show the networks
# Install dependencies yarn install # Compile and restore the network addresses yarn restore # Show current network addresses yarn networks
Execute migrations into a local ganache-cli
# Make sure ganache cli is installed globally npm install -g ganache-cli # Run ganache yarn rpc # Execute the migrations yarn migrate
Set the Ether price and Feed expire date for development
Some migrations allow you to specify some parameter so you can change some values at deploy time:
ETH_USD_PRICE: Allows to set the price of the ETH-USD oracle feed. Just for local ganache-cli. It's
500 USD/ETHby default.
FEED_EXPIRE_PERIOD_DAYS: Allows to set the expiration date for the feed. It's
365 daysby default
Set a different threshold for adding a new token and starting a new auction
The migration that setup the DutchX contract is parametrized, so you can change the default value of the thresholds:
THRESHOLD_NEW_TOKEN_PAIR_USD: Minimum USD worth of a token that the contract requires in order to add a new token pair in the DutchX. It's
10.000 USDby default.
THRESHOLD_AUCTION_START_USD: Liquidity in USD required for the auction to start. It's
1.000 USDby default.
Run all tests
yarn test -s
The flag -s runs the tests in a silence mode. Additionally the flag -g can be added to plot the gas costs per test.
Generate a new version
# In a release branch (i.e. release/vX.Y.X) # Migrate the version to the testnets, at least rinkeby, and possibly mainnet # You can optionally change the gas price using the GAS_PRICE_GWEI env variable yarn restore MNEMONIC=$MNEMONIC_DX yarn migrate --network rinkeby # Extract the network file yarn networks-extract # Verify the contract in Etherscan # Folow the steps in "Verify contract" # Commit the network file git add network.json git commit -m 'Update the networks file' # Generate version using Semantic Version: https://semver.org/ # For example, for a minor version npm version minor git push && git push --tags # Deploy npm package npm publish --access=public # Merge tag into develop, to deploy it to production, also merge it into master git checkout develop git merge vX.Y.X
Verify contract on Etherscan
Flatten the smart contract:
npx truffle-flattener contracts/DutchExchangeProxy.sol > build/DutchExchangeProxy-EtherScan.sol npx truffle-flattener contracts/DutchExchange.sol > build/DutchExchange-EtherScan.sol npx truffle-flattener contracts/TokenFRT.sol > build/TokenFRT-EtherScan.sol npx truffle-flattener contracts/Oracle/PriceOracleInterface.sol > build/PriceOracleInterface-EtherScan.sol
Go to Etherscan validation page:
- Go to Verify Contract Code (version 2.0)
- Fill the information:
- Use the flattened contract
- Set the exact compiler version used for the compilation i.e.
- For the proxy, you'll need the ABI encoded params, you can get them by running
the following script (specify the right network).
yarn get-abi-encoded-params --network rinkeby
- Press validate
An API gathers publicly available data from the Ethereum blockchain on the usage of this Program.
Please note that where you use the Program to auction off a token and no one participates on the bid side of the auction within a 24 hour period, the token to be sold will be valued at zero. Therefore, we recommend that you also ensure liquidity for the bid-side.