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FAIR DEX

AnthonyMiddletonAnthonyMiddleton Posts: 106 admin

FAIR DEX was the 2nd place winner of the Hedera Hashgraph global hackathon out of the San Francisco location. This was submitted by Solomon Wu, amir Youssefi, and Peter Ma.

 

Project description:

Fair Decentralized Exchange, using Hashgraph's power.

 

Problem:

Front-running and other fairness issues are systematic issues in decentralized exchanges. Users who submitted an order later could preempt the earlier orders by fee-bribing or other techniques.

 

Value proposition:

Fair DEX will have fair ordering and fair timestamp with Hashgraph. In addition, it will enjoy high throughput. Demos can be seen: https://www.youtube.com/watch?v=pEWi7xHfpeI We are also spending the time to develop REST/ JSON-RPC/web3 based toolsets: https://youtu.be/TWGMY9wIukc

 

Demo video:

 

HOW IT WORKS

Place orders on exchange
Users place to buy or sell orders on exchange.


Matching occurs
Buy/sell orders that are matched will be matched by smart contract. Partial matching will be supported later.


Settlement occurs
The smart contract will distribute the tokens.


Under the veils
When users do something through web UI, it calls our REST API. Which in turns calls hedera-SDK. Hedera-SDK is used to invoke the solidity contract deployed on the network.


REST/JSON-RPC + Web3.js toolsets
We are also spending the time to develop REST and JSON-RPC based toolsets so that it is possible to allow the community to access it more easily. 

 

See an overview from the team as well as how it works in their attached presentation.

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