This is a free open source project developed by the community, for the community. The DEX utility token powers an upcoming community made Tron Decentralized Exchange, anyone who believes in the vision of TRON blockchain and has basic developer skills can join the development and add new features to this exchange.
There are two main problem with Decentralized Exchanges, they are slow because of the blockchain network they are deployed on, and they set too high fees. The first problem is solved by TRON itself with the high TPS it provides to the network. I believe a project like this can solve the second problem.
High fees are understandable for Centralized Exchanges, they have server costs, people who work there. But there is no reason why Decentralized Exchanges has high fees:
- there is no server cost, nobody operates a full dex, it is possible to create an entirely static website that connects directly to the blockchain and interacts with it to create new orders and transfers, order books stored on the blockchain and nobody can change it
- open source projects have no need for a dedicated development team, everybody can join to the code development and add any function to the exchange
I think it is possible to create a new Decentralized Exchange that is fast and has very low fees, if we the Tron community work together.
UPDATE: Tron Foundation mentioned recently that these TRX10 tokens (what DEX token is) don't have TVM functionality and can't be used with smart contracts, they forgot to mention this in the documentation. It is necessary to create a new custom token contract, these old TRX10 DEX tokens are invalid.
This is the burn address for the old tokens: TTTTTTTTTTTTTTTTTTTTTTTTTTT11FTUs4 This address owned by no one and nobody can access this.
The release date for the new custom token contract is not specified yet, to make sure it is safe to use. When you receive it it may not show up in the transfer of your address only in the transactions.
This Tron Decentralized Exchange consists of a Website, after the authentication of the user address it can connect to an Exchange address that is a deployed contract on the TRON network, this Exchange smart contract:
- can modify its own state (add, remove new orders in the Sell/Buy order book)
- can submit transactions to fulfill orders and move tokens between different TRON addresses (this requires TRX fee to be paid for the TRON super representatives)
- can accept fees to be paid by a Token contract
Discount: (up to 90%) The Exchange contract may use a token configured in the code for the fee (DEX token by default), but it must use some TRX, submitting transactions requires some TRX. When the Website call functions in the Exchange it will first calculate how much TRX it needs to submit the transaction. With (DEX) token the user may reduce this TRX fee, up to 90% discount, because 10% of the TRX fee always required for the TRON network. It is similar to a coupon, the user may give the (DEX) token to the Exchange, the Exchange consume it and let the user to use the functions with less TRX fee. However this does not mean that (DEX) token worth any TRX, DEX tokens worth nothing, it will not be possible to convert directly to TRX, and it has no value, no use outside of this Exchange.
Creator of the (DEX) Token contract and developer only writes code for the exchange and will NOT start/operate/deploy this Tron Decentralized Exchange and the Exchange smart contract. It is up to the community to use the source code and deploy the Exchange smart contract to the TRON network and connect the Website to it, they may configure it in a way where the Exchange contract will not use DEX token and use another token, in that case DEX tokens will have no use.
All the Website, Exchange and Token source code is open source and free to use, modify or deploy by anyone, but it should not be deployed until it is stable and bug free.
During the DEX token creation the crowdsale was disabled by setting the start/finish time to invalid dates. Please note that the exchange rate that is displayed on the DEX Token information page in Tron explorers is invalid and means nothing since the crowdsale was disabled. It is not possible to buy DEX tokens on the tronscan blockchain explorer or anywhere else. Beware of impostors who copy developers name and profile pictures! Creator of this DEX token will never sell/buy any DEX token publicly neither privately!
This is essentially a non-profit open source project, the developers work for free in their free time to create an exchange for the Tron community. The exchange will be a DEX (Decentralized Exchange), it has no costs, the goal is to collect no fees from the users (just enough fee that is necessary for the smart contract to send transactions in the TRON network). Because of this there will be no ICO, no any crowdfunding, 100% of the tokens will be send as gift to the community for free, you can't buy the DEX tokens.
Only nationals of South Korea will receive the DEX tokens, nationals or citizens or residents of other countries are forbidden to receive, own or use DEX tokens.
DEX tokens will be airdropped every day to the Tron addresses where the incoming TRX transactions only originated from the big South Korean exchanges Tron withdrawal addresses, these exchanges only allow South Koreans to sign up to their website.
If you want to receive DEX tokens you must agree with these terms:
-
Owning any amount of DEX token does NOT entitle the owner to anything, other than owning said amount of DEX token.
-
The token creator and the exchange can freeze and invalidate any DEX token anytime, these invalidated tokens will not be usable.
-
You agree that DEX token is not a security and this is not an investment, tokens given for free so it is mathematically impossible to give refunds, because the DEX tokens worth nothing.
-
The DEX tokens are designed to be utilised and consumed by this Exchange, it has no value and it is unusable outside of this Exchange.
-
It is different than basic tokens because the exchange smart contract may print infinity amount of new DEX tokens to function properly, the supply is limitless therefore DEX tokens will NEVER increase in its value.
-
Creator of the (DEX) Token and developer only writes code for the exchange and will NOT start/operate/deploy this Tron Decentralized Exchange and the Exchange smart contract.
-
It is up to the community to use the source code and deploy the Exchange smart contract to the TRON network and connect the Website to it, they may configure it in a way where the Exchange contract will not use DEX token and use another token, in that case DEX tokens will have no use.
-
The goal of this Decentralized Exchange is NOT to generate any fee or revenue for anyone, however because how the TRON blockchain works it is necessary to set a minimum fee to submit the transactions to the blockchain.
-
Any fee that is generated by the Exchange smart contract belongs solely to the person who deploys that Exchange smart contract.
-
The DEX tokens may be used only by this Exchange and has no any other use, DEX tokens gives you no any right.
-
The DEX tokens are non-assignable and are void if transferred, bought, sold, traded from the original receiver to any other person or address.
-
You will NOT receive any TRX, DEX or other token by owning DEX tokens.
-
You will NOT receive money or anything valuable by owning DEX tokens.
-
You will NOT receive any revenue or fee that the Tron Decentralized Exchange may generate by owning DEX tokens.
-
You will gain NOTHING by owning DEX tokens.
It is a decentralized community project with no central development team and no owner, anyone can join the development team and anyone can contribute to the Exchange website and smart contract code, anyone can modify and deploy the smart contracts.
Because of the uncertain legal state of Decentralized Exchanges it is advised for developers to remain private, since this is a free open source project (no ico, no crowdfunding, no investment) you can use pseudonym.
Developers list:
- Reinhard: Pseudonym name and profile picture is from a popular cartoon video game character.