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February 17, 2023

SharDex – An All-in-one DEX building on Shardeum

SharDex is one of the first community-driven & all-in-one DEX on the Shardeum ecosystem with utilities such as Trade, Swap, NFT Marketplace, Bridge, Lending, and...

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Shardeum Content Team

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SharDex is one of the first community-driven & all-in-one DEX (decentralized exchange) on the Shardeum ecosystem with utilities such as Trade, Swap, NFT Marketplace, Bridge, Lending, and more. Since its launch on the alpha network of Shardeum, it has had more than 50k interactive addresses within a month, and more than 5,000 users have accomplished the bootstrapping tasks. In this article, we will look into 3 value propositions of SharDex and why you should consider using the DEX to trade your digital assets.

Table of Contents

Accessible to Everyone

The vision and mission of SharDex are simple i.e. to make blockchain technology accessible to everyone. In the past two years, many innovative products have been created in the crypto space, and they have attracted a large number of users. We have to admit that the crypto industry is growing like never before. One of the reasons behind this is that users now have a clearer vision of decentralization and digital currency. Even so, concepts and products like DeFi, DEX, and NFT are still far from mass adoption.

SharDex is committed to improving the on-chain performance while ensuring the decentralization of public smart contract platforms. From the product perspective, SharDex is continuing to develop and upgrade its current set of products to provide a better user experience. From the perspective of decentralization, SharDex is actively collecting feedback from the community to make the platform community driven. As the most sophisticated one-stop DEX in the Shardeum Ecosystem, SharDex will enable convenient solutions for other projects on the network, asset owners, and users.

One-Stop User Experience

SharDex is the first protocol on the Shardeum network that provides a one-stop Dex. One thing that users in a decentralized world often complain about is they need to switch to multiple dApps to carry out simple tasks. Although it is not too different from existing foreign remittance processes, we believe decentralization will be accessible to everyone when it has a far better UI and UX compared to its Web2 peers like PayPal and Western Union.

Just imagine a user has digital assets on Polygon network and he/she wants to use their resource to buy a highly sought-after native asset, say an NFT, on another blockchain. First they need to buy some native token of the new blockchain and use them as transaction fees to transfer their assets from Polygon via a separate bridge protocol. Then, they need to swap the assets for native assets on the new blockchain. Now, they need to look for a NFT marketplace available on the new network and buy the NFT they want. Existing blockchains are notorious for their scalability issues, which means while users jump from one process to another to buy an NFT at a bargain, they may end up losing precious time and come out of it with a bad experience.

We are still in the early days of Web3 which aims to remove intermediaries and give back the power and control of people’s data and money to the people themselves. Decentralized platforms like SharDex are here exactly to help achieve Web3’s noble vision. With the above problems faced by users in mind, SharDex is well positioned to be a one-stop for users as it provides not just a seamless DEX but also the following salient services

Bridge
Swap
Pool / Asset Management
NFT Marketplace
Launchpad
Games

Building On Shardeum

Building on the Shardeum blockchain gives a competitive edge to SharDex. First, Shardeum is a truly future-oriented EVM-based blockchain that is decentralized, faster and secure. Technology-wise, Shardeum adopts a unique method of processing transactions enabling it to scale linearly resulting in very high throughput. Shardeum is the possible solution to the impossible triangle of blockchain trilemma.

Second, Shardeum aims to onboard the world to Web3 and effectively replace Web2. Technology without masses is nothing but a concept in the air. In fact, as the influence and utilities of blockchain increase, an increasing number of people including students are considering it as one of the key infrastructures to facilitate an equitable world. Onboarding new users is crucial in this process because Web3 is the future whether one agrees with it or not at this time. What is even more crucial is to make the systems and processes efficient and easy to use for an average person.

Further, a community-driven approach is what true Web3 networks must aim for and that’s exactly how both SharDex and Sharduem will be operating. Many protocols claim to be community-oriented, albeit, with a centralized product and functions that eventually end up scaling vertically making it more suitable for people who are already resourceful. Shardeum and SharDex instead, puts the community in the first place and aims for horizontal/democratic growth. The proof of community events hosted by Shardeum that includes workshops and webinars for the community is an example of that. You can learn more about the community’s involvement in the daily affairs of Shardeum in its 2022 year-end review here. With 400k+ community members within 1 year of its launch, Shardeum is the fastest growing L1 smart contract platform.

SharDex is More than just a DEX

SharDex is not only a decentralized exchange but also a platform that allows users to generate revenue by deploying and managing their assets. Users can provide liquidity to earn mining rewards, participate in IDO to obtain early access to brand new assets, and trade innovative NFT arts on its NFT marketplace.

As previously discussed, Shardeum needs projects to take advantage of its advanced technology by offering useful products that can bring more users not only from other blockchain platforms but also from Web2. Aside from seeing 50,000+ interactive wallet addresses so far, more than 30 crypto influencers joined and promoted the launch of SharDex on social media. They are also glad that their efforts and hardwork are acknowledged by the community and SharDex remains ambitious to enable mass adoption of Web3 and its use cases.

SharDex Roadmap on Shardeum

Here is a quick glimpse into the roadmap of SharDex. We aim to launch our mainnet at the same time when Shardeum launches.

Phase 1-Glimmer

· Testnet Launch

· Internal Testing Phase

Phase 2-Rosy Dawn

· Public Testing Phase

· Waitlist Activities

Phase 3-Sunshine

· Airdrop

· Swap

· Staking & Earn

· NFT Marketplace

Phase 4-Halo

· DAO

· GameFi

· Launchpad

Where and How to Get Started on SharDex?

Getting on SharDex now will make you an early bird in the ecosystem. The SharDex team has released 2,000,000 Share Points Airdrop Event. By interacting with protocol and completing tasks, users can get additional 200+ share points on top of what they get by claiming SBTs. Getting more share points will increase users’ chances of winning more airdrops in the future.

Users can follow the tutorial: https://docs.shardex.org/products/exchange to start your journey on SharDex now.

Conclusion

SharDex has a simple mission: to provide a place where people can buy & sell with the best interface and boost their experiences in a decentralized ecosystem.

SharDex, further, aims to be one of the core protocols in the Shardeum ecosystem, and will eventually operate on multiple chains to solve the interoperability issue we find today in Web3.

Stay tuned to our socials below and join us as an early adopter of both SharDex and Shardeum ecosystem!

SharDex Official: https://www.shardex.org/

Twitter: https://twitter.com/ShardexOrg

Discord: https://discord.gg/QbSukuXMRd

Telegram: https://t.me/Shardex_official

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