Modern Finance Chain is pleased to announce DDEX as it first exchange listing partner. After reviewing and testing of the DDEX UI, the ease of use, intuitive interface and integration of MetaMask and Ledger support showed us that the DDEX platform, while new, is an advanced and well developed exchange. Users of the DDEX exchange that may miss the opportunity to participate in the MF Chain token sale will enjoy 5 days exclusive listing on DDEX prior to listing on additional listing partners.

The listing announcement represents yet another key milestone on the Modern Finance Chain roadmap is achieved and also provides non-token sale participants the clear path to acquire the MFX token shortly after token sale end.

About DDEX.io

What is DDEX?

DDEX is a decentralized relayer, or you may see it as a decentralized application, which functions as an exchange. Exchanges allow you to trade one asset for another. DDEX is different from other centralized cryptocurrency exchanges you might have heard about — it doesn’t require you to deposit tokens in order to fill an order. That’s why no personal information is submitted and no registration is required. Running as a hybrid model decentralized relayer for Ethereum and ERC-20 tokens, DDEX utilizes both the hydro protocol and the 0x protocol to facilitate a safe and smooth decentralized exchange experience.

How does it work?

Technically, DDEX is a relayer. Relayers relay liquidity information. Relayers essentially craft an order book from cryptographically signed messages made by market makers. A market maker, or maker, is simply anyone signaling an intention to trade a specific quantity of one asset for another at a specific price during a specified period. The instructions the maker issues to the relayer are called orders. Makers are also called liquidity providers. Makers provide the liquidity information that relayers relay. Later on, a taker agrees to trade the asset at the maker’s specific price. When this happens the order is filled. A smart contract is created and the order is settled on the blockchain. This process is called order settlement. Order settlement for ERC20 tokens on the Ethereum network is handled by the 0x protocol. The exchange aspires to be blockchain agnostic eventually. In the future, it will add support for other blockchains.

DDEX, like other relayers, relays liquidity information off-chain and uses 0x at the order settlement layer. This allows it to do fast off-chain order relay, but immutable on-chain order settlement.