Smartex is an open protocol for building decentralized exchanges. Smartex operates as a public set of smart contracts responsible for trade and settlement, with an off-chain group of actors aggregating and communicating orders. The protocol is free, extensible, and serves as a standardized building block for decentralized applications (dApps) that incorporate exchange functionality. Its interoperable standards facilitate trustless, anonymous trading.
An important improvement over current decentralized exchange protocols is the ability for orders to be mix-and-matched with other, dissimilar orders, obviating the constraints of two-token trading pairs and drastically improving liquidity. Smartex also employs a unique and robust solution to prevent front-running: the unfair attempt to submit transactions into a block quicker than the original solution provider. Smartex is blockchain agnostic, and deployable on any blockchain with smart contract functionality. At the time of writing, it’s operable on Ethereum and Qtum with NEO.
With the proliferation of blockchain-based assets, the need to exchange these assets amongst counterparties has significantly increased. As thousands of new tokens are introduced - including the tokenization of traditional assets - this need is magnified. Whether exchanging tokens for speculative trading motivations, or converting to access networks via their native utility tokens, the ability to exchange one cryptoasset for another is foundational for the larger ecosystem. Indeed, there is a potential energy in assets , and realizing this energy - unlocking capital - requires not only asserting ownership, which blockchains have immutably allowed for, but the ability to freely transfer and transform these assets