A DEX aggregator that accepts limit and market orders, and routes orders through multiple DEXs to optimize every aspect of a trade.
DeFIRE is built on Ethereum and Cardano, and sources liquidity from multiple, pre-audited DEXs to optimize 3 elements of each trade:
- Asset price
- Fees (cost of exchange)
Self described as a “value-generating middle middleman”, DeFIRE sources liquidity for a particular trade placed on their platform from multiple DEXs. Then, depending on the order’s size, the algorithm may splits the order and route it through different liquidity pools in order to optimize the aforementioned factors of the trade.
Users can also choose how their orders are routed i.e. through a single exchange, through several user selected exchanges, or all available exchanges. If the user chooses to route their order through a single DEX their order will be prioritized
For limit orders users can specify their base currency, quote currency, volume, limit price, and an optional expiration date and time.
This expiration time can be selected as a “fill-or-kill” order, meaning that if an order isn’t fill completely by the deadline, the transaction is canceled.
Lit and Dark Books
Lit and Dark books allow traders to select whether their orders are stored visibly on-chain or hashed and kept private.
Token - CWAP
DeFIRE’s proprietary token is required, by means of staking, to use the platform. Specifically it is required to:
- Trade through the platform
- Have orders routed through the platform
Staking the token does provide the following benefits to the party doing the staking:
Traders who stake their CWAP tokens can receive rewards relative to the size of their stake and how much they trade through the platform. These rewards start occurring once a certain staking threshold has been reached.
Stakers of CWAP receive a portion of trading fees, distributed on a pro-rata basis.
Traders also receive rebates in CWAP for using the platform for their orders and when a user unstakes their CWAP they pay a fee for dong so that is then distributed amongst the remaining CWAP stakers.