Hydro Protocol based 0x relayer DDEX hits 25,000 users Milestone

DDEX reached a new milestone of 25,000 users and currently ranks #2 on Etherscan’s DEX tracker

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DDEX

4 min readMay 11, 2018

Introduction

DDEX, the first Hydro Protocol based 0x Relayer, just cleared a couple of noteworthy milestones after first launching open beta testing in January of 2018. We are extremely grateful for the tremendous amount of support from both our community and the 0x project team throughout these last several months.

While there is still a long road ahead to reach our vision of a predominately decentralized ecosystem, it’s important to celebrate major milestones as we grow. This is a small achievement along the path towards a much greater vision for not only our team, but for all decentralized exchanges/relayers.

A massive thank you to everyone who has supported us along the way!

Major Milestones

The number of users has grown exponentially to over 25,000!
DDEX is currently the #2 Decentralized exchange (DEX) by number of total transactions according to Etherscan
DDEX is currently#1 DEXon 0xTrackerfor 7 days
DDEX hit over $8M in daily trading volume on May 9, 2018 (from Coinmarketcap)

***DDEX is currently the #2 Decentralized exchange (DEX)-***https://etherscan.io/stat/dextracker

***DDEX is currently the #1 trading volume DEX****on 0xTracker:* https://0xtracker.com/

What makes Hydro unique?

Hydro Protocol relayers currently have at least three key advantages over the previous generation of decentralized exchanges:

Realtime Trading API: Quants and Market Makers are able to instantaneously create and cancel orders for free.

Hydro is looking to collaborate with market makers for Alt Coins from all over the world. Please send us a note if you want to become a market maker on Hydro Protocol (email bowen@ddex.io).

Read more on Hydro Open Source API on Github.

2. No Deposit, No Withdraw

Using 0x protocol allows us to have a decentralized and trustless settlement layer. This means that there is no need to deposit or withdraw currency into/from the relayer. There is no central party which can be hacked to run away with customers’ funds or to be subjected to government regulations.

Funds are always in the users’ wallets while trading on a 0x protocol based DEX. This is one massive security and convenience advantage over other exchange models.

3. Intuitive user interface resembling centralized exchanges

Creating an intuitive, fast, and easy to use decentralized relayer is challenging task. While we still have plenty of improvements coming, we aim to make our user experience both for new and experienced API traders as easy as possible. The Hydro Protocol enables limit trades similar to centralized exchanges, while still maintaining a decentralized settlement layer through 0x.

We still have a great deal of room to improve on all of this and are excited to demonstrate some of these implementations and upgrades in the future.

What’s next?

DDEX Native Mobile Preview

As demonstrated at EdCon 2018 (https://youtu.be/NJ9StJThxZY?t=22654), we are preparing to launch our mobile native app in the near future! Check out a few design layouts below:

Additionally:

Working with other teams to launch the second hydro-based DEX or “hydro node”
New advisers and team members
New partnerships and UI/UX improvements

We are excited to have crossed these milestones, and are eager to share additional developments with our communities in the future. Thanks again to everyone for all of your support, we really appreciate it. Stay tuned for new updates!