Dexta Mini-Series: Part 1
Welcome back Dexta-ers!
This is the first article of the Dexta mini-series! Today we are exploring the feature of order books on the Dexta platform along with the advantages of building on BSC and plans to scale up Dexta in the future.
Dexta is a decentralized exchange platform that provides traditional centralized exchange capabilities. Initial capabilities will include fully on-chain limit order books with margin trading. Transitioning order book margin trading revenues to decentralized finance is necessary to outgrow traditional centralized finance platforms and to build a fully decentralized future and Dexta is building the ultimate cross-chain exchange that DeFi needs.
Dexta’s automated decentralized on-chain limit order books (Dexta Exchange) will allow users to submit orders with the freedom and control of a centralized exchange. Order books allow for entirely new forms of trading and market makers to participate, which has not been possible on popular BSC exchanges like PancakeSwap. We will extend the protocol to allow cross-chain swaps by building on the Solana ecosystem with Solana Wormhole.
Binance Smart Chain
Dexta is built on top of the Binance Smart Chain (BSC) which will create a fast and low-cost user experience while being able to capture the rapidly growing community migrating from Ethereum to BSC. Currently, the largest volume exchanges on BSC do not provide limit order capabilities due to using an Automated Market Making (AMM) model, exposing a market opportunity.
However, BSC is only the beginning — to scale Dexta, we plan on utilizing Solana Wormhole, a Layer 2 cross-chain bridge. Boasting over 50,000 transactions per second (TPS), the Solana blockchain will fulfill Dexta’s scaling needs. This layer will remain compatible with the BSC layer and allow for more usability and no worry for future scaling as Wormhole’s 50,000 TPS throughout will be more than enough.