Bitmain’s Decentralized Cryptocurrency Exchange? is a new decentralized exchange announced on May 15, 2018. Find out everything you need to know about today in our review.

What is is an online cryptocurrency exchange that uses smart contracts to transfer cryptocurrencies between users. is a truly decentralized exchange. The company’s developers have no access to a user’s private key. Users also never store their assets on Instead, all transactions take place directly between users via smart contracts. The smart contract transfers your cryptocurrency to another user’s wallet at the same time the smart contract transfers the other user’s funds to your wallet.

The exchange is made by a Switzerland-based team of developers. It’s an open-source exchange. has been in a pre-trial period for the past few weeks. A trial is scheduled to begin on May 24.

How Does Work? is a decentralized exchange incubated by Bitmain, the well-known mining hardware company and Antpool mining pool operator.

Unlike a traditional cryptocurrency exchange, where the exchange holds users’ funds and arranges trades with other users via the order book, is built from a smart contract. That smart contract is compatible with both the Ethereum and RSK networks.

During a trade, the smart contract holds all assets from both parties. insists that it has no control over the assets at any time, and that the transaction takes place entirely between the two transacting parties and the smart contract. Users remain in full control of their funds and transactions are always signed by users themselves. also uses Raft’s algorithm for added security and usability. That algorithm creates “replayed on chain” (ROC) trading, allowing to support off-chain and on-chain trading across two ledgers. In more straightforward terms, you can trade assets off-chain and then have that transaction replayed on-chain to complete the transaction.

Here’s how the official website describes it:

“Your deposits directly go to the smart contract, and your orders are signed by your private key. The smart contract ensures that your orders are executed or expire correctly and that withdrawals from your balance always go back to your wallet. has no custody of or access to your funds, nor your private key. It is just a service of order matching and a source of liquidity.”

Users can read the code themselves here.

Users can use Metamask to begin making trades using the smart contracts. With Metamask, can handle fluid transfers with ETH or ERC20 tokens. Users tether their account to their Metamask wallet, then sign to deposit or withdraw tokens.

Right now, Metamask is the main wallet supported by In the future, however, the team seeks to add wallets like Imtoken, Bitcome, and Ledger, the hardware wallet.

The team also hopes to integrate other decentralized exchange protocols in the future. They’ve mentioned integrating with Kyber, IDEX, and DEX, for example, all of which are popular decentralized exchanges with good volume. will also seek to add ERC-721 protocol compatibility.

The developers also claim their exchange is optimized for gas cost efficiency. They’ve added features like “bit-compaction” that minimizes the amount of input data and the size of the contract state. supports batch processing that can significantly reduce the amortized gas cost of trade execution. There’s also no gas cost for unfulfilled orders.

Meanwhile, all trades take place instantly. Order placing, canceling, matching, and executions are all instant with no need to wait for blockchain communication. That’s where the ROC mechanism comes into effect: transactions are securely processed off-chain before being added to the blockchain, giving you the security benefits of blockchain technology without the long transaction times.

Who’s Behind is led by an international team of developers. The team is based in Switzerland, the United States, Singapore, and Hong Kong. Fees currently charges a maker fee of 0.1% and a taker fee of 0.2%, although both fees are subject to change.

The goal of their fee is to cover gas costs on Ethereum.

You’ll also pay a fee to deposit ETH or an ERC20 token into the platform. That fee is between 0.001 ETH and 0.002 ETH.

You can view the complete fee structure for here.


The trial period is scheduled to get underway from May 24 to June 6, 2018. For the past few weeks, the exchange has been in a pre-trial phase.

To learn more about the new decentralized exchange, or to try it out today, visit online at

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