We are happy to announce the release of FiroDEX to the public! FiroDex is powered by AtomicDEX which allows cross-chain swaps and interoperability and supports a wide range of chains via atomic swaps such as Ethereum, BSC, Avalanche, Matic, HECO, Qtum and any UTXO based coin.
Atomic swaps are a key technology in enabling censorship resistant exchanges. FiroDEX is trustless and non-custodial as you retain full control of your keys and coins. As such it also does not require any KYC and there is no geo-restriction. Order books are also decentralised and anyone can run a FiroDEX node and contribute to its infrastructure.
FiroDEX is also not based on smart contract technology which means there is much less risk of entire liquidity pools being drained due to vulnerabilities. Unlike automated market makers, FiroDEX uses an order book style allowing much greater control of liquidity and capital efficiency.
There are no restrictions on what pairs you can provide liquidity for but you can view current active order books on FiroDEX that are paired with FIRO on Dexplorer. Currently, the most active pair is FIRO/FIRO-BEP20 allowing people to swap seamlessly between the two to buy/battle with FiroPunks NFTs or participate in the Binance Smart Chain ecosystem.
FiroDEX also enables Liquidity Multiplication, a protocol that allows the same funds to be used in multiple pairs/orders on FiroDEX "orderbooks." The first request to fill completes the trade, and all outstanding requests are immediately cancelled. This feature is available to the user when providing liquidity to the exchange. Liquidity Multiplication therefore allows an initial amount of funding to create an exponentially higher amount of liquidity on the exchange. Unlike centralised exchanges, all orderbook entries on FiroDEX are 100% backed by real funds.
You can download the latest FiroDEX on the Github Release page! Mobile versions are also coming soon and are in testing now! While FiroDEX is still in beta stage, all core functionality is there. The underlying DEX infrastructure has been stress tested and has seen peak swaps of 10,000 swaps per minute. We are proud to be working with the AtomicDEX team to support and build decentralized crypto infrastructure.
We encourage our community to provide liquidity to FiroDEX by placing buy/sell orders on FIRO pairs!