Introducing Shiftly— The Most Simple Decentralized Exchange for Ethereum Based Tokens

Trade Ethereum tokens using your own private wallet.

With dozens of new tokens created every day and while we are shifting towards a tokenized economy, existing token trading tools are still lagging behind. Because of the lack of security, transparency, and efficiency of centralized exchanges, the need for decentralized platforms has never been greater.

Decentralised exchange mainly differ from centralised exchanges as they let users remain in control of their funds. We leverage the blockchain technology behind crypto-currencies themselves to enable a safer, cheaper, more efficient and truly transparent trading: as it should be.

We have developed our own solution, Shiftly, an instant peer-to-peer token exchange where users can buy and sell Ethereum tokens in a decentralized manner.

We’ve decided to build our platform on top of the 0x protocol, which provides us with an efficient, simple and riskless way of handling customer transactions and settlements without having the need of taking custody of our client’s assets.

In addition, we will be integrating Kyber Network’s liquidity pool to our DEX. Kyber Network’s shared liquidity pool will provide us with Guaranteed Liquidity for a large number of ERC20 tokens. You can lean more about the concept in this video.

No Accounts. No Deposits. No Middlemen.

Truly Trustless — no middlemen:

Shiftly lists popular token pairs which you can trade directly from your digital wallet via the 0x Protocol. No additional registration is required — you can start trading right away. Also, this means your funds and information don’t suffer custodial risk. Never entrust your assets to a centralised exchange again.

Guaranteed liquidity:

Our model allows for fast transactions via the 0x’s shared liquidity network, so you won’t experience those annoying race conditions that result in failed order fills. This also eliminates front-running, and reduces overall trading fees. We envisage our trading to provide superior liquidity than other relayers thanks to our order aggregating algorithm, partnerships with market-makers and projects.

As mentioned earlier, we will also be integrating Kyber Network’s shared liquidity pool to our back-end. We believe that this will enable us to match trades more efficiently thanks to their Guaranteed liquidity for a large number of ERC20 tokens.

Trading fees:

Other cryptocurrency trading services charge you with withdrawal fees and commissions. Because settlement is done peer-to-peer, directly on the blockchain, you will never have to pay fees for withdrawals! This is a certainty and not just a promise!

We plan have no fees during our beta version.

An Easy-to-use, simple User Interface:

Our goal is to solve the trust problem which centralised exchanges have always faced while allowing our users to trade tokens using a state of the art, simple and efficient UI. In order to do so, we are engineering en an efficient order-matching model combined with an innovative and easy-to-use interface.

Further, One of the big barrier that a lot of exchanges (and relayers) have is that they have a complicated UI, which requires to educate people and therefore limit access to experienced users. We will disclose previews of our UI in a later blog post. We are striving to offer the best possible user experience to our users.

Finally, we will also do our best to provide our users with transaction times comparable to the best centralized exchanges, at the best possible price while conserving a reasonable fee structure. We’ll make another article to talk about our fees in the coming weeks!

Team

We are a team of finance, technology and design professionals based across Europe between France, Switzerland, Monaco and India. Of course, you’ll get to know us better in the next months as we share updates and interact with you. We are always looking for additional talents to join our team and grow.

Get in touch with us

We encourage you to follow our updates here and to follow us on Twitter or Telegram. We also have a slack if you wish to discuss with us and follow the development of our project. Your feedback is more than welcome and we are looking to hearing from you!

Join our mailing list to stay up to date on the latest news and announcements! (just leave your e-mail in the “Request Access” box)

We are also looking for partnerships with market makers, liquidity providers, crypto-funds as well as people interested in using our trading platform and API.

Feel free to contact us at team@shiftly.io!