Dexter — Decentralized Exchange and Liquidity Pool for Tezos — XTZ/tzBTC and XTZ/USDtz

Dexter — Decentralized Exchange and Liquidity Pool for Tezos — XTZ/tzBTC and XTZ/USDtz Adam CoxFollow Oct 6 · 4 min read Dexter V1.0 Dapp LogoDexter is a Decentralized Exchange (DEX) built on Tezos. At the time of the writing of this article, the XTZ/tzBTC and XTZ/USDtz trading pairs are available. It is anticipated that more will be added. More information about getting started with Dexter can be found at https://dexter.exchange/. The Decentralized Application (Dapp) can be found at https://app.dexter.exchange/. There are some clear & detailed tutorials about getting started with the Dapp at https://dexter.exchange/docs/dexter-tutorials/. Dexter was built by https://camlcase.io/. Dexter can be used with Thanos Wallet https://thanoswallet.com/ or Beacon Wallet https://www.walletbeacon.io/. Dexter is compatible with Ledger Nano X using the Beacon wallet. Here is a screenshot of Dexter after following the above tutorials, connecting with the Thanos Wallet, and using it’s functionalities: Overview of Dexter Exchange Overview of Dexter Liquidity PoolMy initial liquidity entered into the pool on 10/04/2020 and 10/05/2020 was 123.734794 XTZ + 0.02410143 tzBTC and 126.788729 XTZ + 250.158093 USDtz for the two trading pairs. This was done in several different transactions throughout the day. The following are snapshots of the overall size of the liquidity pool on Dexter. They were collected at the dates and approximate times that are noted in the image captions. 8:00 AM EST 10/05/2020 9:00 AM EST 10/06/2020 8:00 AM EST 10/07/2020 2:00 AM EST 10/08/2020The following are snapshots collected about my share of the liquidity that is provided to the pool. 6:00 AM EST 10/05/2020 1:00 AM EST 10/06/2020 2:00 AM EST 10/07/2020 2:00 AM EST 10/08/2020As of the writing of this article, the only other location to buy tzBTC or USDtz was directly from one of the Tezos minteries. A list of them can be found at https://usdtz.com/. The exchange rate to buy either tzBTC or USDtz does not match the market rate. It is currently more expensive to buy tzBTC or USDtz with XTZ on the Dexter exchange. This could be a great arbitrage opportunity if tzBTC and USDtz can be purchased at their respective BTC and USD price elsewhere and deposited on Dexter. The slippage will increase for a larger size order. The estimated slippage is 0.31% for a 1 XTZ size order. At 11:00 PM EST 10/05/2020, 1 XTZ can be exchanged for 1.93 USDtz while 1 XTZ is has market rate of $2.13 according to Dexter. At 4:00 AM EST 10/06/2020, 1 XTZ can be exchanged for 2.008262 USDtz while 1 XTZ has a market rate of $2.08 according to Dexter. At 4:00 AM EST 10/06/2020, 1 XTZ can be exchanged for 0.00019293 tzBTC while 1 XTZ has a market rate of $2.08 according to Dexter. 11:00 PM EST 10/05/2020 — XTZ/USDtz Exchange Rate on Dexter 4:00 AM EST 10/06/2020 — XTZ/USDtz Exchange Rate on Dexter 4:00 AM EST 10/06/2020 — XTZ/tzBTC Exchange Rate on DexterOn top of the 0.3% fees that will be collected for each trade with the pool funds, the liquidity providers will earn baking rewards for their XTZ while it is in the Liquidity Pool. I will post some more snapshots over the following days, weeks or even months. Feel free to bookmark this page and come back to see the updates. Thank you for taking the time to read my article! Please leave comments or questions below. More data about all the transactions that brought my account to it’s current state can be found at https://tezblock.io/account/tz1Mhe7JSfsoG5tKy7Nv7wiwTgWdWjkPDSNT XTZ Tips can be sent to: tz1Mhe7JSfsoG5tKy7Nv7wiwTgWdWjkPDSNT Find me on Twitter: https://twitter.com/NewBTCOrder Find me on GitHub: https://github.com/AdamCox9