While decentralized exchanges (DEX) have been in existence since 2014, it was not until November 2021 that the sector recorded its all-time high (ATH) of over $235 billion in trade volume. Since then, the market has suffered a massive decline, averaging $44.2 and $59.85 billion in September and October 2023, respectively. With Bitcoin currently hovering around the $67k mark (at the time of writing) and speculated to hit a new ATH, DEXes have experienced a boost in volume, albeit still lower than its November 2021 record.
This decline in trading volume points to a few unresolved sticking points. Some of these include; liquidity constraints, performance and scalability issues, and technical challenges. With the crypto market growing at an exponential rate, fast and scalable transactions have become a prerequisite. The influx of new users further complicates the matter, promptly begging for an authentic DEX with centralized exchange (CEX) performance, liquidity, and simplicity.
Fortunately, the Foundation DEX has been launched to cater to the teeming population of new users searching for a DEX with CEX-like performance capability.
Foundation is a reflection of the unprecedented technological advancement we’ve witnessed in the crypto space since Bitcoin’s launch more than a decade ago. By seamlessly merging all of the best features of CEXes with the standout, revolutionary aspects of DEXes, Foundation aims to redefine industry standards and introduce a newfangled era of crypto platforms and users.
Foundation seeks to create a fast-lightning trading engine on par with the biggest and best CEXes—capable of processing hundreds of thousands of transactions per second while concomitantly managing billions in trading volumes. Although the team is working to deliver ultra-fast transactions, it does not compromise the ethos of a genuine DEX. The platform prioritizes trustlessness, transparency, security, and permissionless transactions.
To deliver on its scalability promise, Foundation adopts the order book trading engine; an electronic list that contains all of the buy and sell orders for a specific crypto asset. It is done based on a set of rules stipulated by the order-matching system. Flexibility in order types, better-decentralized price discovery, scalability, and availability of more options make the order book model advantageous, especially for a DEX. With this model, Foundation will enable liquidity providers to expressly manage risks and accurately reflect market demand and supply.
The Foundation team integrates a peculiar and advanced Exchange Explorer that enables all matching orders, trading accounts, trades, and reserves to be conveniently available for monitoring in real time by users.
This new feature will set Foundation apart from existing DEXes and further solidify its claim as a revolutionary in the industry.
Foundation’s advanced order book trading engine enables fast and convenient transactions across blockchain networks, guaranteeing deep liquidity. Unlike the Automated Market Maker (AMM) trading model which is prone to high slippage, Foundation’s adoption of the order book system minimizes slippage.
The DEX introduces robust APIs, allowing developers to create unique protocols for market trading and trustless, complex trading strategies. This enriches the ecosystem with advanced, cutting-edge solutions while increasing accessibility.
Thanks to the perpetual synthetic trading system, Foundation is capable of offering an array of trading options—forex, cryptocurrencies, and commodities.
The Foundation DEX team is committed to building and sustaining a truly open and dynamic market environment and the permissionless token listing feature is one way to prove that. It empowers developers to list their tokens with little to zero constraints.
The team adopts an ambitious yet highly feasible roadmap which is currently in the “orbit preparation” phase. The Foundation beta test version scheduled for Q1 2024 is live. According to the team, this stage emphasizes the integration of key features such as spot trading, perpetual trading, Exchange Explorer, etc.
The “Liftoff” and “Deep Space Journey” phases will see the team roll out the mainnet as well as turn the protocol into an independent, sovereign blockchain, respectively.
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