User address:
0xbe73BECC91072326bCa0f457209deCE10C21eF03
Is it related to other projects already posted on the Forum?
No
Project goal:
A decentralized exchange lets you trade cryptocurrencies and tokens without a central middleman, and you keep your tokens the whole time. It is built on automated smart contracts deployed on the Xriba Chain.
Briefly summary of the project:
A decentralized exchange lets you trade cryptocurrencies and tokens without a central middleman, and you keep your tokens the whole time. It is built on automated smart contracts deployed on the Xriba Chain.
How it can help the Xriba community and ecosystem?
Automated market makers rely on liquidity pools and liquidity providers to function. A liquidity pool is a cryptocurrency reserve used to facilitate future trades. Those who provide their funds to these pools are referred to as liquidity providers.
Having an AMM here opens the way to new liquidity entering the Xriba Chain. Having a DEX is the key to making a DeFi, so this makes it possible for new ecosystems to grow in the Xriba Chain.
Project description:
Create a fork of Uniswap with its own graphical interface.
Uniswap is an automated liquidity protocol that is backed by a constant product formula and built on the Ethereum blockchain as a system of smart contracts that can’t be changed. It obviates the need for trusted intermediaries, prioritizing decentralization, censorship resistance, and security. Uniswap is open-source software licensed under the GPL.
Each Uniswap smart contract, or pair, manages a liquidity pool made up of reserves of two ERC-20 tokens.
Anyone can become a liquidity provider (LP) for a pool by putting in enough of each underlying token to get pool tokens in exchange. These tokens track pro-rata LP shares of the total reserves and can be redeemed for the underlying assets at any time.
Additional resources: