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Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel through a decentralized on-chain application
Dexalot's aim is bringing the traditional centralized exchange user experience without compromising on decentralization and transparency. As such Dexalot implements an on-chain Central Limit Order Book for its trade pairs on the Avalanche platform. Dexalot allows for users to trade ERC20 tokens supported on the C-chain against the blockchain native currency AVAX. Users can also trade supported ERC20 tokens against other supported ERC20 tokens.
What does listing an asset on Dexalot look like today and in the future? How will the listing process eventually differ from the traditional CEX exchange listing? The first pair of Dexalot (AVAX/USDT.e) was listed as part of the deployment process. The deployment script was designed to deploy the smart contracts, add the first pair and transfer the ownership of the exchange to a 3-of-4 multisig wallet. With that said, any new trading pair needs to be listed through an approval process by this multisig wallet. Dexalot project members collectively hold only one out of 4 keys required to execute any operational decision for the exchange.
Dexalot has chosen LayerZero to be its default bridge provider when it launches as a subnet on Avalanche. LayerZero’s best-in-class messaging security plus immutable and perpetual messaging flow mechanism made it a clear first choice for Dexalot. Through the implementation of generic messaging across its blockchains, Dexalot and LayerZero are creating the multichain future of tomorrow.
Previously, trading on Dexalot meant that all user actions were sent to a single blockchain. Today this has changed. Dexalot’s new architecture now allows for interaction between multiple blockchains from its unified frontend. This is not only more efficient for end users but also paves the way for future innovations. LayerZero’s secure and flexible architecture allows Dexalot to combine the deposit, withdrawal and bridging functions into one-click and thus provide a seamless experience for users.
This novel dual-chain architecture allows Dexalot to unload more demanding operations to the subnet, reducing the gas cost while increasing speed. In the same regard, by settling on generic messaging connectivity instead of using cross-chain token transfers, operations are kept cost-effective. This design gives users an affordable alternative that would not have otherwise been available.
Integration with LayerZero will help make this omnichain experience even better. All crypto enthusiasts as well as traders are invited to explore its capabilities and become part of the Dexalot community.