Multiple DEX Support for the XRC20 Tokens deployed on XinFin XDC Network

DEXs made a lot of noise in 2020; the trade volume of Ethereum DEXs grew from $270 million in January to $21 billion in December. Ethereum has seen more than $132 billion in DEX trade volume since its inception. In which more than 95% came alone in 2020. More than 1.34 million users spent ~$207 million in the transaction fee (Not including trading fee) to execute 46 million trades on Ethereum.

XDC Network provides multiple advantages over Ethereum network such as near-zero transaction fees with 2000 TPS at 2-second settlement and consumes less energy than all leading network providers. The XDC Network, created by eXchange inFinite (XinFin) — is a delegated proof of stake consensus network (XDPoS), enabling hybrid relay bridges with instant block finality and interoperability with ISO 20022 financial messaging standards, making XinFin’s Hybrid architecture enterprise and developer-friendly. 

Many emerging projects under the XDC (XinFin) Network have the opportunity to enter the market directly after the completion of the development period with the DEX support for XRC20 tokens deployed on the XDC Network. Let’s dive into the two new DEX built on XDC Network, namely GlobianceDex and XSwap. 

Globiance DEX

Globiance DEX, launched on 8 december 2021 is the first automated market maker ( AMM ) on the XDC blockchain where a collection of smart contracts are used to create liquidity pools, provide liquidity, and swap XRC-20 tokens.

GlobianceDex is the LaunchPad for all XinFin based Tokens providing Swap, opportunity to earn tokens and unlock crypto trading benefits of DEX built on XinFin Network. The Globiance community can create requests to list new tokens into the default token list of Globiance DEX. The community can fill out the form at Github and the development team will update on the same. While waiting for the token to be reviewed, users can always trade any token irrespective of it being listed in the default token list. Users simply need to paste the custom token address in the token list and click on “Add” & start trading. Once a token is reviewed & accepted it will be added to the default token list & its pools & trading will be visible to all by default. Currently we have XDC-the native coin of XDC Network, WXDC- wrapped XDC, GBEX- Native token of Globiance, USDG- Stable coin for USD on globiance as base pair. The token list available now on GlobianceDEX are EURG – Globiance Euro Stablecoin, GBEX – Globiance exchange stablecoin, SRX – StorX Network utility Token, USDG – Globiance USD Stablecoin, WXDC – Wrapped XDC, XDC– XDC Network coin.  

XSwap 

XSwap is a fully decentralized open-source exchange that utilizes an automated market maker (AMM) system for XRC20 tokens building on the XDC Network. The XDC coin of XinFin XDC Network will be used in the XDC Swap as a mediator like Ethereum’s ETH in Uniswap AMM. XSWAP is used specifically for XRC-20 tokens running on XinFin XDC Network and is built on an AMM system that relies on liquidity pools fueled by users to enable crypto trades. Liquidity providers will lock their XRC-20 tokens in various pools to earn periodic LP rewards. Thus, farming is the simplest passive income opportunity for crypto enthusiasts with various levels of expertise. Also, XSWAP will have its own native staking module. Unlike liquidity farming, users can benefit from injecting liquidity into a single token with the staking module.

XDC Network has a developer-friendly blockchain with extensive documentation and GitHub resources. Tatum’s API simplifies complex blockchain operations into single API endpoints, greatly speeding up and streamlining the entire developer experience. Also, MyWish platform makes smart contracts development easier for XDC Network without any requirements of coding skills including modules available for token contract creation, airdrop launch, and multi-purpose crypto services platforms.

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