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DexTech

The First Gamified Social Dex - Trade, track, and chat with the best traders directly on dex.tech

DexTech

Created At

ETHOnline 2023

Winner of

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🏊 Scroll β€” Pool Prize

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πŸ“§ XMTP β€” Best Encrypted Message

Project Description

Less than 10% of traders consistently turn a profit, presenting a clear gap between novice and elite traders. This disparity isn't just about skill; it's about experience, wisdom, and mentorship.

Enter Dex Tech β€” the revolution in DeFi where trading meets gamification and social interaction.

The fastest way to pick up a skill is by learning from people who have already made thousands of mistakes and honed their craft. We've developed a dApp that allows you to talk and learn from the best traders of all time. It’s as simple as buying their key.

By purchasing a key, users can chat with top traders directly, and profit from their success. In exchange, traders earn a 10% fee from every key transaction and watch as their key prices rise, which can be sold for a profit.

The end goal of Dex Tech is to bring the social aspect back into trading, where PnLs can stand tall next to profiles, and you can bet on the success of traders, everywhere. Whether it's on DeFi platforms, NFT marketplaces, or DEXs, we'll make it easy to bet on others.

How it's Made

We built a dynamic FE with nextjs that communicates directly with our custom smart contracts. At its core, they manage the registration of traders, orchestrate the purchasing and selling of keys, and handle the distribution of trading fees.

Upon registering as a trader, our smart contracts allow users to assign a token symbol to their profile. This token acts as the trader's key. The pricing of keys is dynamic and is directly correlated with the trader's ROI, ensuring that key values are a direct reflection of performance.

Sponsor Technologies: Uniswap: We cloned Uniswap to allow seamless trading and to ensure a familiar and efficient experience for our users.

Scroll: Our contracts are deployed on Scroll, ensuring that our users can leverage a fast and cost-efficient chain.

Graph: Graph is used to index our smart contracts, allowing us to keep track of our registered traders in real-time, ensuring seamless updates and an up-to-date leaderboard for our users.

XMTP: Communication is an integral part of our platform. XMTP powers our messaging system, ensuring direct and encrypted conversations between participants.

Particularly Hacky Details: In order to guarantee the most accurate representation of a trader's skill and to incentivize peak performance, we engineered an advanced algorithm that dynamically adjusts the key prices in accordance with a trader's ROI. This responsive system operates with a latency of 60 seconds, ensuring that key prices remain current and fair. This provides both buyers and sellers with an accurate valuation at any given moment.

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