Bitpie “DeFi Star” 4# DDEX
This is the fourth episode of Bitpie DeFi Star. Today we will talk about DDEX, a decentralized exchange based on the Hydro protocol.
What is DDEX?
DDEX is a decentralized exchange built on the ETH network and providing users with one-stop leveraged trading and lending services through smart contracts. In addition to supporting the decentralized stablecoin Dai in the DeFi ecosystem, DDEX is also the first decentralized exchange to introduce USDT into the DeFi ecosystem and provide the system with liquidity outside the DeFi ecosystem.
DDEX currently supports DAI, ETH, HBTC, USDC, USDT, and WBTC. And 5 times leverage service of ETH / USDT, ETH / USDC, ETH / DAI, WBTC / USDT, HBTC / USDT.
How to use DDEX?
* This is because leverage has a more high risk for ordinary users, this article only provides tutorials on interest-bearing and lending.
The first step is to open the bitpie wallet, find and enter DDEX
For iOS, enter: ddex.global in the search bar on the “Discover” page, and select
For Android, you can find DDEX directly under the ETH DeFi page
The second step, click to “Earn Interest”, enter the Lending / Borrow page
The third step is to select the currency to be deposited and click Deposit to earn interest
Take ETH as an example here
It can be seen that after entering the amount to be deposited, the system will automatically calculate the interest under different deposit cycles. Click “Deposit” and confirm the authorization contract. After confirmation, you can see the interest dynamically provided by the system (DDEX calculates interest in seconds, as shown below).
The fourth step is to select the currency to be borrowed and make a mortgage loan
Take USDC as an example here
Click Supply, the system will calculate the amount of ETH to be mortgaged according to the current ETH / USDC price, and after confirming that it is correct, you can authorize the contract to debit. At that time, the price was 1ETH = 141USDC, and the mortgage rate was 125%, that is, to borrow 1USDC, you need to offset 1/141 * 125% = 0.0089ETH.
After deducting the mortgaged ETH, the system will send the equivalent USDC to your address.