Announcing Oasis.Direct — Instantly transfer ETH for MKR/DAI

MakerDAO
MakerDAO
Mar 29, 2018 · 3 min read

We’re excited to announce the launch of Oasis.Direct, the first decentralized instant trading application with a simple interface.

This is the easiest way for users to exchange ETH for the Dai stablecoin, as well as MKR, with no account needed and zero fees. Oasis.Direct was created with the purpose of being a fluid, fast, and instant way to get DAI/MKR, but will also serve more tokens in the future.

The launch of Oasis.Direct provides a convenient dApp to the liquidity pool that OasisDEX provides. OasisDEX will remain in its current form, with a more robust experience featuring charts, markets and volume. We will continue to improve OasisDEX however, on the website and infrastructure front.

To put it simply: Oasis.Direct is for users that want quick and easy, while OasisDEX is for those that want a variety of options.

Both OasisDEX and Oasis.Direct are fully decentralized. There is no third party to any transaction, no central custodianship, all trades are P2P and both the orderbook and settlement are on-chain.

Using Oasis.Direct

The platform is incredibly intuitive, and even the most basic user should find it welcoming.

1) Unlock your Metamask or Parity client

2) Select which pair you’d like to exchange: ETH/DAI, ETH/MKR, DAI/MKR

3) Enter the amount of ETH you’d like to swap

4) Accept the Terms of Use

That’s it!

The swap will take place instantly and you will see the transfer appear in your metamask account. The only cost is Gas cost. You are not charged any fees.

How Oasis.Direct works

Behind the scenes, Oasis.Direct automatically approves the withdrawal of the tokens, wrapping ETH into the ERC-20 compliant token, WETH. It then finds if there is enough liquidity on the OasisDEX (and — in the future — on other Liquidity Provider Contracts) to satisfy the user’s order details, fills the available order, and transfers the requested tokens back to the user.

The magic that allows all this to happen is the use of the delegatecall Ethereum opcode in the ds-proxy library which is part of the broader suite of Ethereum tools created by DappHub.

Follow OasisDEX on Social Media:

We’re also launching a dedicated Steem and Twitter accounts for OasisDEX. This will give users a dedicated channel to stay updated, chat, and interact with the team specifically regarding the Oasis ecosystem.

Other places you can get Dai:

DAI is gaining traction as a standard for stability across exchanges, both centralized and decentralized.

As DAI provides for an entirely decentralized option for stability, it’s a natural fit for decentralized exchanges which offer a completely trustless setup. Fiat deposits come with significant counterparty risk, as was seen in the hacking of Mt. Gox, and the seizure of BTC-e funds. DAI does not have a central issuer, there is no custodianship over any assets, and it can created without any intermediary on a decentralized, autonomous infrastructure without gatekeepers.

You can also obtain Dai on decentralized exchanges such as:

  • OasisDex
  • RadarRelay
  • Paradex
  • DDex
  • Bancor Network

Dai is also available on traditional (centralized) exchanges, including:

  • BiBox
  • Gate.io

Outside of these decentralized exchanges, you can also generate DAI by yourself on dai.makerdao.com.

A Decentralized Future

We believe in a future that leverages the power of decentralization for trustless transactions.

With Maker, we are carrying out our vision of creating a decentralized stablecoin that will unlock unique benefits of a complete financial ecosystem on the blockchain.

Maker is a smart contract platform on Ethereum that backs and stabilizes the value of Dai through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. It is a decentralized infrastructure without a central operator.

Want to Learn More?

MakerDAO:

OasisDEX:

MakerDAO

Stability for the blockchain @ MakerDAO.com

MakerDAO

Written by

MakerDAO

Stability for the blockchain @ MakerDAO.com

MakerDAO

MakerDAO

Stability for the blockchain @ MakerDAO.com

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