My project LCNEM(issuing mosaics pegged with legal currency)is in progress.
LCNEM hope to support every legal currencies in the world finally.
If there is DEX for NEM, it is very helpful for LCNEM.
I searched, then I found “nemchange” and “NEMEX”.
However, it seems to be centralized exchange for me…
Please tell whether they are DEX or not.
Anyway , I thought up an idea which make us be able to create DEX.
The idea is this.
- Users log in to the DEX page with their private key, not e-mail address. As I described, it is static HTML page, so users can check that the program
doesn’t do suspicious actions.
- The DEX page starts WebSocket communication with the off-chain matching engine API. Users can get orderbooks via this API.
- Users can create orders by API. To distinct users, the matching engine request Ed25519 signature. The DEX page sends the user’s signature with request data for creating new orderbook.
- If the WebSocket communication was disconnected, the matching engine delete orderbooks of the user.
- If two users matched, the DEX page creates an aggregate transaction.
This simple matching engine will be centralized, but using this simple engine, everyone will be able to create DEX.
And I think this simplicity is better point than “0x”.
Furthermore, users can download DEX pages like Nano Wallet.
How do you think about this idea?
If someone interested in this idea, how about create the engine and a DEX page together?