Tezos joins DeFi with Dexter exchange platform

After more than a year of development, Dexter, a decentralized exchange powered by Tezos, was launched.

Like similar projects on Ethereum, the platform offers incentive liquidity and automatic market making

The advantages of the project over other MAs are unclear, but the developers claim to be audited by reputable companies.

The Trust Project is an international consortium of news organizations based on transparency standards.

After a long waiting period, the decentralized exchange Tezos Dexter has finally launched. Whether it can differentiate itself from other altcoin DEXs remains to be seen.

DeFi is no longer just for Ethereum. On September 30, 2020, camlCase, a product developer for Tezos, announced the launch of Dexter, a decentralized exchange for Tezos tokens.

Although the announcement comes amid a craze for DeFi , the product has been in the works for some time. The exchange was originally announced over a year ago on July 15, 2019.

We’ve been working on a decentralized exchange for Tezos for a little over a year, and it’s been a great trip. The day has finally come… Dexter is online!

Dexter Laboratory

While the interface of the exchange platform is relatively straightforward, the Dexter portal includes documentation and explanations of the service .

According to camlCase, Thanos, Beacon (web wallets) and Magma (mobile wallet) should integrate seamlessly with Dexter. Dexter manages tokens adhering to FA1.2, a Tezos standard similar to ERC-20 on Ethereum.

So far, the only cryptos available on Dexter are Tezos‘ ‚wrapped‘ bitcoin (tzBTC), the dollar tied to Tezos (USDtz) and Tezos (XTZ) itself. According to data on Dexter, the platform only has 12,500 USDtz or 6,257 XTZ available on server pools.