DeXter

DeXter (formerly ProjectX) is a community-driven, decentralized exchange (DEX) on the Radix network. The project was initiated by Fred Liebenberg, the founder of AlphaDEX.

History

The inception of DeXter can be traced back to a medium post by Fred Liebenberg, which, in an effort to promote the ideals of Web3, posed the feasibility of extending the capabilities of AlphaDEX and to create a fully fledged exchange app for Radix. The post caught the attention of several Radix community members - including Faraz Abulhawa, founder of Radstakes - all of whom contributed in various capacities such as development, marketing, testing, and more.

Development

Liebenberg was responsible for developing the backend and the cryptographic components essential for the Dex functionality. Dexter serves as the front-end application, facilitating community interaction with these components. The project has seen significant progress with developers working on the front-end and designers crafting the user interface. The next phase of development aims to integrate the front-end and back-end, with beta testing slated for the weeks leading up to "Babylon" at the end of September.

The project aims to incorporate the key features of centralized exchange apps, providing functionalities such as limit and market orders, live price graphs, orderbook details, user order history, and historical reports of trades and transactions. While the initial vision is for a web-based application, plans to extend the project to mobile versions are also considered.

The project's trajectory includes the potential release of a Minimum Viable Product (MVP) around the commencement of Babylon. This MVP will support basic Dex functionality, including market and limit orders. Post-Babylon, the team envisions expanding the Dex's capabilities, possibly introducing features like leveraged trading.

Community Involvement

DeXter is designed to be a community project, with contributors from various fields welcomed and encouraged to participate. These contributors range from UI/UX designers, front-end developers, full-stack developers, community managers, project managers, and marketing enthusiasts, among others. The project promotes an environment where anyone with a skill set that can aid the project is welcomed to contribute.

Tokenomics and Earnings Sharing

To incentivize contributors, DeXter employs a unique tokenomics system. The project issues tokens that represent a share in the earnings of the project. Periodically, these tokens are distributed to those who have contributed to the project over that period, allowing contributors to accumulate tokens over time. These tokens entitle holders to a share of the income from every trade on AlphaDEX that originates from DeXter users, distributed on a regular basis.

Decision Making and Governance

In the spirit of decentralization, decision-making processes within DeXter are also community-driven. For token distribution, anyone can nominate contributors to receive tokens for a given period, with final allocation determined by the proportion of total allocation points allocated to each of the nominated people.

Impact

DeXter represents a significant step towards achieving Web3 ideals, offering an innovative approach to app development that is decentralized and community-driven. By creating a fully functional, decentralized exchange app on Radix, DeXter aims to provide a platform that is not only built by the community but also benefits the community.