Today we’re announcing Dexible, the Smart Execution Layer for DeFi’s Last Mile of UX.
You can use the Dexible Beta on Mainnet today to create Flexible Market, Limit, and Stop-Loss Orders using liquidity sources like Uniswap. Dexible continuously evaluates opportunities to enter/exit illiquid small and mid-cap assets. It auto-recommends order sizing strategies and executes private and non-custodial orders. We do this through batching transactions into rounds according to the liquidity available in the market, and you have the ability to further customize your order. We plan to release the full version after professional audits.
Dexible’s Stop-Loss orders are the first for retail DeFi traders and have profound implications for exposure to riskier positions.
You can use Dexible today to set market, limit, and stop-loss orders for any DeFi asset. If you’d like to stay updated on our progress, you can join our Telegram or Discord communities and sign up to our newsletter.
We believe in creating incentivized execution layers, that guarantee the resiliency of using public protocol networks. We further believe in democratizing risk management to high-risk assets.
Namely, we seek to tackle the following challenges:
How do we promote accessibility to illiquid assets?
How do we circumvent bots from hacking intent on public protocols?
Are there ways to improve internal arbitrage design of DEXs today?
How do we handle competitive order management & prioritization?
Dexible’s strategy is to digest these tremendous challenges into three stages:
The future of consumer-friendly DeFi hinges on minimal hoop-jumping, transparent transaction estimations, and communicating workflows across applications for best outcomes, regardless of whether traders end up using Dexible’s products.
Dexible aims to to create consumer-friendly decentralized finance by bringing and expanding the necessary UX from TradFi into DeFi.
The Need for Dexible
The decentralized finance industry has matured. In the past three years, protocols have given rise to multiple variations of exchanges and open sources of liquidity for new financial primitives. The success of decentralized exchanges (DEXs) and automated market makers (AMMs) has given rise to the demand for tools that automate these platforms. The aggregation, convenience, order management, and historical analysis tools of centralized exchanges are significantly lacking in decentralized environments.
Newly developed dex tools promise to close the UX gap between DEXs and centralized exchanges (CEXs).
Dominant CEXs, especially those nearest to the point of the crypto-fiat on/off ramp like Binance, Coinbase, Kraken, and Huobi, make it possible to trade privately and with overall less fees. However, using centralized exchanges forces users to transfer custody of assets to the exchange’s wallets, trust susceptibility of an exchange’s prices to internal price manipulation, trust the buy/sell pressure within the exchange regardless of bot arbitrage, and hope for the best. And the recent news of CEX’s required to report identities of private wallet transfers puts financial privacy at risk in certain parts of the world.
Many DeFi traders disagree ideologically about their continued reliance on CEXs. However, many end up returning to them because they provide the tools they expect. Other traders solely rely on DEXs because, in some cases, it’s the only available liquid source for certain assets, or because it aligns with their privacy values. Regardless, many are performing suboptimally using the tools at their disposal for swapping.
To play in DeFi, you will have to swap assets, regardless of whether you’re liquidity mining or lending money. However, make smart swapping decisions is challenging especially since each AMM pool rebalances prices according to the internal buy/sell pressure within the pool and the liquidity being supplied. Current tools don’t take into consideration major design problems that make smart decision-making infeasible for new entrants like signals for price volume, and liquidity.
Furthermore, getting any sizable exposure to relatively illiquid small/microcap assets is a non-starter for many traders.
Dealing with illiquidity makes some of the most promising projects (whether they’re NFTs or personal tokens) far too risky for everyday investors. Thus, new projects are kneecapped by those who have trained themselves with illiquid market price movement.
A great example of this is in the $MIR-$ETH pool on Uniswap. The volume significantly outweighs the liquidity!
Flexible Orders (n.) — any order in which execution is dependent on dynamic price, volume, and liquidity conditions, where transactions are executed across batches to minimize slippage.
Dexible makes DEX’s more flexible. It provides an automated way to break up orders for low-liquid assets on Uniswap. While Uniswap is our only liquidity source right now, more will be added. So far our analysis shows that compared to other sources, traders will experience the best opportunities with Uniswap as the liquidity source.
Flexible orders are complex. Up to now, only crypto hedge funds with teams of 10 in-house developers or full time technical DeFi traders have matched this capability.
Dexible’s Flexible orders have proven within the past two weeks of our small soft launch to be significant for retail nontechnical and technical traders and for whales and funds.
Flexible Orders have the potential to deal with several smart execution cases for swaps.
Of note are teams with tokenized devshares and individuals who need to realize profits from mining and staking rewards. Dexible allows them to create resting limit orders for output maximizing swaps out of those positions to make payroll or pay data center bills.
Before the Dexible team launched, the team was involved in a couple significant hackathon projects and launched products.
The Dexible team first came together for the Conensys Grants 2019 Hackathon, in which the team created a proxy-contract CLI and frontend interface for Truffle work environments.
The team also created a sim-swap protection mechanism called SafeNet at ETH Denver 2020, deploying an early rollup from Off Chain Labs to win its prize.
Most significantly, in November of 2019, the team launched the first version of BUIDLHub, the earliest IFTTT engine for Web3.0 <> Web2.0 and blockchain automation.
BUIDLHub laid the foundation for a signals engine that became the basis for which Dexible operates. BUIDLHub is currently free to use and powers smart integrations for Do it Yourselfers, blockchain developers, and for contract-based state change notifications. The team learned over time through relationships with key users, that smart contract-based automation was the grand vision.
Over the past 6 months, our team has been iterating on portfolio rebalancing tools, automatic Uniswap updates, and working the beginning of a longer play at incentivized execution. Dexible represents a coherent and clear single-purpose product, the go-to stop for anyone performing smart swaps of any significant volume.
To Sum It Up
We identify DeFi’s Last-Mile UX which will be that which DeFi to mainstream crypto adopters and stock traders, where users expect a seamless experience to go from fiat to exposure to yield generating assets.
We see that new users and amateurs still face massive uphill challenges of failed transactions, no automation capability, and limited capacity for liquidity mining exposure, while getting screwed over when trying to play in illiquid markets.
We want to ensure a seamless process to go from standard mainstream crypto (ex: ETH, WTBC) to risk exposure.
We will build risk management tools to make trading in illiquid markets feasible.
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