Dexible v1.2 Released - BSC & Fantom Networks are LIVE
v1.2 unlocks Algorithmic & Conditional Execution on BSC & Fantom and why that is valuable for traders
Dexible is proud to announce the launch of v1.2. This version introduces Binance Smart Chain and Fantom liquidity pools to the execution management system. This brings Dexible’s total liquidity sources integrated up to 57.
The launch of v1.2 follows the successful deployment of v1.1.5 — which introduced Stop Limit Orders. Read more here on how Stop Limit orders catch bounces in bearish market conditions.
Integrating BSC & Fantom
Integrating new networks means more dex liquidity can be accessed through the Dexible aggregator. The UI and SDK have been updated to enable more tokens on these networks to be swapped. Alt chains possess some competitive advantages for early-stage projects bootstrapping liquidity. These advantages come with a higher potential for price risk, rapid up and down swings in price rates, and available liquidity. This is where Dexible shines. Dexible specializes in low liquidity environments across these networks by automatically applying order splitting to the parent order and subsequently timing child transactions of that order across several rounds.
Since the tokenization thesis stands to continue on despite bearish signals, the problem of liquidity access and market timing optimizations are growing, not shrinking.
Michael Coon, team lead at Dexible, frames the significance of successfully aggregating multichain liquidity as a “game-changer” for economic opportunity and early-stage investing. “As a technology, blockchain has, and should continue to remove gatekeepers, creating a system where anyone who wants to participate and interact can.”
“On Ethereum today, there may not be a gatekeeper per se,” he continued, “but there’s a substantive financial barrier with high fees. It’s simply too expensive for most to interact on that chain.” This has been measured and observed with new users migrating or starting their path down the decentralized self-custody journey on Terra, Avalanche, and Solana.
Mike Powers, VP of Engineering, Mike Powers added: “the way people exchange value for value is changing. Right under our nose. And blockchain, being an open platform, is the catalytic means.”
While BSC launched its mainnet in April 2019, it wasn’t until January 2020 that degen traders started flooding the network, and with it, many microcap assets and early-stage ventures. The goals of BSC essentially functioned as a better market timed version of EOS. By reducing block time, shortening threshold for txn confirmations, using a POS consensus, and achieving cross-compatibility with Ethereum, BSC sought to gain a market share of developers and traders concerned with obstructive and surging network fees.
BSC has since experienced challenges with its proposed model. Increasing the blocksize and reducing block time requires serious resources and support from the development team to enable ease of use from 3rd party developers, but that support hasn’t materialized well enough for the community (Github issues). Moreover, launching and further operating a node on BSC is nothing short of nightmarish (Quicknode).
While most of the work to integrate BSC and FTM was done in late January, challenges to connect the state of those networks between the API and Dexible frontend had persisted. Our team needed to ensure the UI components would operate as expected. The main challenges for integrating BSC involved adapting the Dexible UI to higher transaction throughput on that network to keep up with txn rates. Furthermore, there was additional work required for cost calculation and internal time series had to be updated.
Even though integrating Fantom Opera required adjustments for higher block throughput and some effort for cost prediction, these efforts weren’t as challenging as they were for BSC.
Like Ethereum, the Fantom network has a single consensus layer with now multiple execution chains. The base layer is called Lachesis, and the EVM compatible smart contract chain is called Opera. Opera is a Proof of Stake layer that launched in December 2019. Opera introduced multi-asset token standards on Fantom including ERC-20 and BEP-2 in early 2021, which enabled the network to gain significant DeFi adoption by October 2021. The surge in adoption came especially from the influence, technical advice, and leadership from the Yearn Finance founder, Andre Cronje (Messari).
Both BSC and Fantom’s Opera chain are EVM compatible. The Ethereum Virtual Machine is the market leader for runtime execution of smart contracts, essentially allowing Solidity programming to compile into standard assembly code (aka bytecode) that would be interpreted by computers servicing the network to act on the logic. The most successful dapps are deployed on networks and alt-L1s that target the EVM. This is why alt L1s prioritize launching their own EVM-compatible chain on their protocol (MetisDAO).
This means that Ethereum smart contracts can be deployed, giving a boost to user adoption by siphoning users off from Ethereum to an identical user experience on this other network. There is increased complexity with running these EVM chains for each protocol. As one user puts it, “The EVM is like Javascript, it’s not perfect but the network effects are so strong, its hard to fight” (r/CryptoTechnology). BSC had the first tremendously successful EVM compatible launch followed by the Polygon L2 aka Matic.
For traders, fees are considerably less on each of these networks.
v1.2 Features
It felt natural to advance from v1.1 to v1.2 with the new network integrations.
In October 2021, Dexible introduced our v1.1 roll-out integrating both Polygon and Avalanche networks plus a shipload of other improvements. Dexible v1.1.5 launched in late January 2022. And now, by this point, Dexible has started to harness the momentum by establishing a new baseline, whether its been from merging the shared mental capacity of the team towards completing an internal product roadmap or by onboarding new employees and transferring productivity systems, the baseline for productivity across Dexible teams is increasing.
We’ll run through what v1.1.5 introduced as well as what v1.2 is working towards.
Stop Limit Orders introduced:
Stop Limit Orders work magic on dexes to catch market dips. They are limit orders that wait first on prices dipping below a stop price threshold before triggering. This limit order then swaps and only continues to swap when the spot market price of Output Tokens per Input Tokens is below the limit price threshold.
Order Type Selector introduced
Now traders can get more information on each order type before they select it. The graphics, text, and tooltips will be educational for new traders and old traders alike.
Order Logs Overall Bar & Expected Versus Order rates introduced
In the Order Logs page, you can now get more clarity into active and historical order insights. A top bar lays out details more clearly, comparing any limit or stop prices to the active spot price rate.
The Expected versus Actual rows in the Order rates containers compares expected minimum output after fees to the actual output after fees as well as the output versus expected.
Near Term v1.2+ Roadmap
We are working towards objectives specified in our internal Dexible Team Product Roadmap. Over the coming months we are focused on enhancing Dexible and execution system improvements.
- We will be improving our existing website and integrating this blog onto https://dexible.com.
- We will be introducing at least 2 new order types
- We will be creating a new UI/UX for conditional order workflows (ex: having either a limit order or a stop loss order fire based on price movements)
- We will create chained order flows (ex: fire a TWAP to be succeeded by some Stop Order)
- We will be enabling appended orders (ex: complete a TWAP then follow up immediately with a stop order on that new asset)
- More enterprise changes (talk to us to learn more!)
About Dexible
Dexible routes across 57 liquidity sources and has processed over 12k transactions and $400m in cumulative trading volume. With new integrations of BSC and Fantom, we’re excited to share the next stages of our growth in stewarding the future of multichain DeFi coexistence.
If you are looking to seriously trade or add risk on Fantom or BSC, Dexible is the best place to start. Dexible accesses all existing liquidity sources on Fantom, like Spookyswap and Beethoven X, and BSC, like Pancakeswap and Apeswap, for order fulfillment and introduces conditional and algorithmic orders for low liquidity environments.
Traders can use both the Dexible web app user interface or the low-code SDK for programmatic order submission, available in both Javascript and Python versions.
You can find our updated user documentation here.
Reach out to us on Telegram or Discord for general inquiries or questions
